Banking account
MPR Sanjay Kumar (3118 Points)
07 March 2022
what is mean by contra entry why some Bank entries are entering into the contra entry in accounts in Tally?? give some examples
4 Replies
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 07 March 2022
Cash deposited into bank
Cash withdrawn from Bank
Bank to bank transfers
These can't be entered in payment or receipt.. Accounting rules prescribed to Account these under contra entry
Cash withdrawn from Bank
Bank to bank transfers
These can't be entered in payment or receipt.. Accounting rules prescribed to Account these under contra entry
Nilesh
(Account Executive)
(85 Points)
Replied 06 June 2022
Contra entry passed when internal fund / cash transfer by bank, there is no receipt or payment for company
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 07 June 2022
Contra entry specifically for booking cash deposit, Cash withdrawal, bank to bank transfer within the organisation
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