Contra Entry in tally

In this chapter we will discuss about the contra entry.

Contra entry is used for, when we withdrawn cash from bank and cash deposit into bank, also the  funds transferred from one bank to another bank.

When deposit cash into bank

bank a./c dr (debit the receiver)

to cash a/c (credit the given or credit what goos out)

when we withdrawn cash from bank …..

Cash a/c dr (debit the receiver or debit what comes in debit comes in)

to Bank a/c (credit the giver or credit what goes out)

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Contra Entry in tally

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Just make online payment for Rs 100/- for below a/c
A/c Name : Subramanyam
S.B.A/c No : 912010018059202
Name of Bank : Axis bank Ltd
Branch : South Mada st, Mylapore
Chennai 600 004
RTGS , NEFT, IFSC code : utib0001596