What is the meaning of contra entry

Answer Posted / naresh babu

Which accounting entry is recorded on both the debit and credit side of the cash book this is called as contra entry

Is This Answer Correct ?    0 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Can a firm claim preliminary expenses incurred(manufacturing) or only its is applicable to Companies? can a firm claim ,1/5 of such expenses incurred as deduction as in case of Companies? or any other procedure.

1729


Which steps in Procurement to Pay process does FI documents get created.

1611


shyam consigned 200000 unit @ rs 5/-each to mr ram and paid freight and insurance amounting to rs 100000.ram spent further following amount: 1) insurance rs 5000 2) godown rent rs 4000 3) clearing rs 6000 2000 unit were damages during transits due to heavy rains. Ram sold 100000 unit @rs 10 per unit . ram realisec solvage value of damage unit rs .2000 ram is get 5% commission on sale determine the abnormal loss?

1861


Are there any questions you would like to ask?

579


pls. tell me with detail (what is the rate of service tax and w.c.t. for a contractor who do civil work -make building and repairing. what is the format of generate a bill for (with material and labour both ) what entry should i pass in my accounts bokks. general and sales entry.

1636






How to make a entry in tally for Land & Building Purchased for RS.1,65,00,000/-(Total Consideration)Paid Installment wise as 30 lakh,10 lakh,20 lakh & 1,30,87,500

37484


hi i want to run vendor debit memo after he paid all amount i want to give discount through miro i am giving the price and quantity and run in through miro the system will pass another two more line iteams extra and shwoing dr/cr balance +/- when i will increase the amount this is also increasing what is the reason i dont know please send me immediately

1443


What is an accounting loss?

599


Describe the proof of cash type of bank reconciliation?

1436


HOW CAN I OPEN A CC A/C ? WHAT ARE THE MINIMUM REQUERMENT TO OPEN A CC A/C ? WHAT ARE THE FACILITY OF A CC A/C IN THE BUSINESS FIELD ? WHAT ARE THE BANK CHARGES AND INTEREST IN CC A/C ?

2229


Is it possible contra entry in SAP FICO

1752


What do you know about this position?

621


hi...this is chaitanya fresh bcom computer graduate i need job in finance feild will i get in genpact, deloitte, bank of america, or any other mnc...?

1481


What is the disadvantage of double entry system?

610


what is the right process for input credit of Service tax. and on which service i can take credit.

1354