Jan 29, 2009

Contra Entry (F4)

Gateway of Tally > Accounting Vouchers > selecting F4: Contra > displays the Contra voucher entry screen. As per accounting rules, Contra Entry is a transaction indicating transfer of funds from:

  1. Cash account to Bank account

  2. Bank account to Cash account

  3. Bank account to Bank account

Contra Entry screen appears in the Single Entry Mode by default. You are prompted to choose the account, which will receive the amount (the debit ledger).

For example, you wish to transfer of funds from Cash Account into Bank Account – you will debit the Bank Account and credit the Cash Account > the entry appears as:

The ledger selected in "Account" (Axis bank ltd) is the destination ledger – debited.

Advantages of Single Entry Mode:

  1. Faster data entry!

  2. Selection of Multiple Ledgers to be credited with a Single Ledger to be Debited OR Multiple Ledgers to be debited with a Single Ledger to be Credited -> depending on the nature of transaction.


Krishna said...

How can i do contra enty in tally 9.bank to bank is a contra entry. but how can i do this entry.

Anonymous said...

May I know how to c/f the closing balance of the previous financial year of the co. as the opening balance for the current year for a particular books of accounts without affecting the other books of accounts of the last yr as well as tis year?

The company accounts are also already split.

Awaiting for your reply