As per accounting rules , contra entry is a transaction indicating transfer of funds from..
- Cash Account to Bank Account (Cash Deposit)
- Bank Account to Cash Account (Cash Withdrawal)
- One Bank Account to another Bank Account (Bank Transfer)
The following Vouchers can be done through the Contra Vouchers :
(a) Cash Deposited into Bank
(b) Cash Withdrawal from the Bank
(c) Funds Transfer from One Bank to another Bank
(d) Cash Transfer to Petty Cash
Gateway of Tally > Vouchers > Press F4 (Contra Vouchers)
Alternatively, press Alt+G (Go To) > Create Voucher > F4 (Contra Vouchers)
Transactions : ₹. 5000 deposited in State Bank Of India as on 1-09-2020.
(B) Cash Withdrawal Voucher
Transactions : ₹. 5000 withdrawn from Axis Bank Ltd. as on 1-04-2020.
Transactions : ₹. 5000 transfer from Axis Bank Ltd to State Bank Of India as on 1-04-2020.