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Payment to od accounts

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 September 2012 If i paid to my OD Loan account through bank transaction which entry i need to Pass either Contra or Payment.

Note:- Transaction is Bank a/c to Bank loan a/c but i am clearing my loan.
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CA Lokesh Pokharna

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CA Lokesh Pokharna (Expert)
22 September 2012 bank od a/c dr.
to bank a/c (from which payment has been made)
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
22 September 2012 Yes, You Can Make This as Contra .
Since OD Also a Bank Account.
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