What is Contra entry

Answer Posted / abdullah amer

contra entry is the transaction which is recorded on the
both side of triple column cash book that is cash and bank
columns on the opposite sides.in other words the double
entry aspect of the transction is completed in the cash
book itself

Is This Answer Correct ?    2 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

can we change date in tally.erp s/w in educational mode ?

1149


as  per partnership deed, salary to working partner is rs 8000/ per month (96000 annually), suppose if i have book profit of rs 50000/ only,then what is the procedure to give salary

2135


Detail your responsibilities in accounts receivable

602


Purchase and sales sahres accounting entry which have stt brokerage and other taxes

3573


What other careers are you considering?

675






Spinoff,Spelloff

1821


Sir how the enter of GST adjust of sales return

1193


Can anybody tell me the steps involved in Budgeting / Forecasting generally..?. Hints would be appreciated highly.

1930


When we paid TDS on commission how will journal entry come

885


kindly send the TDS tariff on Security expenses, rents, transport charges etc.,

1560


Scheme is given by a company to his distributors on sale of goods, what is the treatment of this scheme distributors hand Direct income or indirect income

1376


What is entry of Dishonored cheque issued to supplier

879


when receieve cheque from a party and we deposite cheque in bank how do this entry

4209


What is process of Vendor Reconciliation and which items will be Add and Less from ad per customer books likes step by step 1-Credit Note shown in vendor a/c but not booked in our a/c- Add or Less 2-Debit Note not shown in vendor a/c but booked in our a/c - Add or Less 3-Invoices not booked in our a/c but shown in vendor a/c- Add or Less 4-Payment booked in our books but not shown vendor- Add or Less If our balance is plus or minus rules is same. like 20000, (-20000) Sir, Provide your mobile n for clarify

1240


What are a debit note and credit note with an example?

620