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Contra entry is passed common entry for Cash Withdrawal and Receipts from Bank and for Internal bank Transfer.Its is common entry of both bank and Cash book
Is a transaction involving transfer of cash between one cash A/c to another cash a/c or bank a/c to bank a/c
Contra Entries Reflect in both Bank cash Books at the same time for deposit and withdrawal of Cash
Contra entries are those entries in which same account can be debited and credited in contrary situation
Transfer of cash between one cash A/c to another or one cash A/c to another bank A/c.
Contra entries are related with the transaction between the cash and bank account.
Contra entry is an adjustment entry between banker and customer.
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