What is contra entry?

- Newsfeed
- Find People
- More
- - Products By Bayt.com
    
    Bayt.com
    
    Shagheel
    
    Specialities
    
    Learning
    
    Companies
    
    Salaries
    
    People
    
    Blog
    
    Podcasts
- - العربية
- Use Our Mobile App
  
  Get contacted by recruiters directly with our newest chat feature!
  
  Download Now

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Next Question:
What is contra entry?
Posted by:
Vrushali Dixit Dixit
10-September-2017

Question added by Deleted user
Date Posted: 2014/04/19

Upvote (0) Views (2) Followers (0) Answers (1) Report Question

Write an Answer
Register now or log in to answer.

1 Answers

by Adel Hafouda , Finance Analyst II , Amerada Hess Libya Exploration LTD.

If a transaction requires entries on both the debit and the credit sides simultaneously, it is called 'Contra entry'

Upvote (0)

Downvote Reply () Report

Popular Searches

Engineers Jobs Sales Executive Jobs Accountant Jobs Software Engineer Jobs Engineering Technicians Jobs

Write Your Answer

More Questions Like This

What is contra entry? how to record in journal?
Top Answer: Cash Account Dr Bank Account Cr Or Bank Account Dr Cash Account Cr See More

Answers (4)
Why contra entry in tally both account are debit?
Top Answer: NO ONE ACCOUNT IS CREDITED AND THE OTHER IS DEBITED See More

Answers (1)
In Accounting "Contra Entry" Used to reverse between Cash and Bank only? If "No" then why itis in Tally only for Cash and Bank Transaction only.
Top Answer: Yes, contra voucher is used only to post cash to bank and reverse entries. See More

Answers (3)
What is Contra Asset?
Top Answer: A contra asset is a negative asset account that offsets the balance in the asset account with which it is ... See More

Answers (3)