Monday, 20 June 2011

What is contra entry how to post the entry

The Contra Entry means Bank - Cash or Cash - Bank or Bank - Bank Tanscation made a entry as contra entry.

FOR EXAMPLES:

CASH DEPOSITED IN BANK:

BANK A/C DR.
CASH A/C CR.

CASH WITHDRAWN FROM BANK:

CASH A/C DR.
BANK A/C CR.

FUNDS TRANSFER: (A COMPANY A/C IN VARIOUS BANKS)

ICICI BANK A/C DR.
IDBI BANK A/C CR.

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