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What is contra entry?

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

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Question ajoutée par Vrushali Dixit Dixit , Accountant , Mazda Agro Agency
Date de publication: 2017/09/10
ivor kivuyo
par ivor kivuyo , HR Officer

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

Abdullah Khaan Mohammad
par Abdullah Khaan Mohammad , Assistant Accounts Manager , Texture Group

Contra Entries Reflect in both Bank cash Books at the same time for deposit and withdrawal of Cash 

mochamad imron
par mochamad imron , Sr. Database , TechMahindra

Contra entries are those entries in which same account can be debited and credited in contrary situation

Iqra Zahid
par Iqra Zahid , Software Quality Assurance Engineer , Digitify Pakistan Limited

Transfer of cash between one cash A/c to another or one cash A/c to another bank A/c.

Sethumadhavan krishnan
par Sethumadhavan krishnan , Personnel Affairs Supervisor , Saudi Catering & Contracting

related between bank and cash records

Tehmeena Asif
par Tehmeena Asif , Librarian , School of Modern Skills (American School)

Contra entries are related with the transaction between the cash and bank account.

Cyrus Aya
par Cyrus Aya , Business Operation Manager (e-Commerce) , Magnate FZ-LLC

Contra entry is an adjustment entry between banker and customer.

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