What are Contra Entries

Contra entries are used in the context of cash book; it refers to those entries which are passed when a transaction affects both cash and bank account of the cash book in the opposite direction. Example of contra entry is when you withdraw or deposit cash from or into the bank. No ledger posting is required in case of contra entries because double entry of it is complete in cashbook itself.

0 comments… add one

Leave a Comment


Related pages


meaning of balance sheet in hindidisadvantages of bill of exchangewhat is autocratic leaderwhat is implicit and explicit costweakness of socialismdifference between induced investment and autonomous investmentforex reserve meaningdifference between overdraft and cash creditautocratic decisionslr in banking termsadvantage of dictatorshipthree golden rules of accountingwhat is substitute goods in economicsadvantages of a debit cardfor a monopolistic competitorwhat is vertical analysis in accountingadvantages of federalismbarter trade systemmonopoly price makerprogressive tax advantagesdisadvantage of vertical integrationdisadvantages of commodity exchangefeatures of consignmentcarriage inwardsdefine securitisationdisadvantages of fifoexpenses meaning in hindiwhat is fifo in accountingwho is autocratic leaderpros and cons of command economydeffered revenue expendituredecentralised structuredisadvantages of deficit financingexplain the difference between fixed and variable costsslr and crr differencefeatures of marginal costingupselling exampleswhat is marginal costing in cost accountingconglomerate companiesmethods to calculate national incomeadvantages and disadvantages of socialist economytrade discount accounting treatmentdisadvantages of industries wikipediawholesale loan operations meaningissued vs outstanding sharesreasons for failure of mergers and acquisitionsmerits and demerits of nationalizationwhen is a trial balance preparedwhat is complementary goodsdefine penetration pricingquota tariffscarcity examples in economicsdemerit of capitalismadvantages and disadvantages of economic globalizationadvantages and disadvantages of bank accountswhat is full form of slradvantages and disadvantages of cashless societyeffect of advertisement on monopolistic competitiondefinition of bill discountingexample of law of diminishing returnscontingent liability exampleswhat is consignee and consignormonopolistic competition definition and exampleswhat is penetration pricing strategyadvantages and disadvantages of rural and urban lifeconglomerate strategycapital account convertibilityventure capitalist advantageswhat is slr crrmeaning of trial balancedefine bartering systemconglomerate mergerswhat does the law of diminishing marginal utility stateexample of monopolistic competition companymain features of globalisationfright means in hindiadvantages of an autocratic leader