Whether passing of contra entry is mandatory
This query is : Resolved
Niranjan Patel
(Querist)
16 March 2017
Whether passing of contra entry is mandatory in case of transfer of money from one bank account to another bank account or we can pass a payment voucher in place of passing contra entry?
CA Shubhanshu Jain
(Expert)
16 March 2017
transactions between banks can be passed only through contra entry
Message likes :
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Niranjan Patel
(Querist)
17 March 2017
Sir thanks for your reply. Now my query is whether it is compulsory to pass a contra entry Or we can pass a payment voucher in tally?
CA Shubhanshu Jain
(Expert)
17 March 2017
Yes, it is compulsory
and even if you want to pass it through payment voucher tally itself won't allow it because if you pass it through payment voucher bank names won't appear under expenses.
and even if you want to pass it through payment voucher tally itself won't allow it because if you pass it through payment voucher bank names won't appear under expenses.
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