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what is a contra entry how it is passed in journal and
cashbook
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Answer / praveen kumar
contra entry is use in two conditions only cash with drawn
from bank for office use only
2. cash deposited in to the bank for office use only
| Is This Answer Correct ? | 13 Yes | 3 No |
Answer / k k ganguly
Conta is Entry Which is use that time when Cash Withdrow or
Deposited into bank. its passed on the time of cash
withdrow cash book is dr & Bank a/c is Cr Simple
| Is This Answer Correct ? | 5 Yes | 2 No |
Answer / srinivas annavarapu
Contra entry is that where there will not be any effect in
TB.
For ex: Cash of Rs.1000/- deposited in Bank
in this case cash balance is decreased by Rs1000/- and at
the same time Bank balance is increased by Rs.1000/-. As
such there is no difference in your liquid balance.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / vijay bhaskar reddy(vijji_tv@y
It is the entry which effected the both sides in cash book.
It is occured in three times, i.e., 1.Cash deposited in to
bank, 2.Cash withdrawn from the bank for office use, and
3.Receivable cheque deposited in to the bank in another day.
| Is This Answer Correct ? | 0 Yes | 0 No |
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11 Answers Capital IQ, FactSet Systems,
I have a existing Oracle applicttions and need to bring one of the new business on it. The new business will use GL, AP and FA. We will use existing COA. This business will have 3 sets of books (1- tax book, from April to March; 2- Primary book, from July to June; 3- Reporting book, from July to June); All books will have same currency; HOW DO I TRANSFER DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY MONTH OR ON WEEKLY? IS THERE ANY STANDARD ORACLE PROCESS WHICH CAN BE SCHEDULED? THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX BOOK?. HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS? Thanks, KK
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