When an account is opened with a bank. Read more about debit and credit rules for better understanding of debit and credit accounting heads. If you leave this processing option blank, the system uses version ZJDE0001. One of those options is ‘F4 – Contra’. For example , If you are withdraw 10,000 AED from Bank account, select the bank account under Account name, Dr/Cr as Cr and click save and new, same way again you have to enter one more entry with same amount, select petty cash /cash account under Account name and Dr/Cr as Dr and click save and close, Under this contra voucher Bank account is Cr and cash account is Dr. (Fig-5). Contra Voucher Me Hum Ya Phir Bank Se Paise Nekalte hai, Ya Phir Bank Me Paisa jama Karte Hai,Ya To Transfer Karte Hai, Ek Bank Se Dusare Bank Me To Hum Contra Voucher Ka Use Karte Hai. Main Menu > Financial Management > Transaction > Voucher Entry. With the help of contra vouchers in Tally, accountants can also generate deposit slips for recordkeeping. Andhra Pradesh … The voucher which records contra entry is called “Contra Voucher.” Again, we can say, any transactions relating to transfer of Cash between one cash a/c to another cash a/c, or one cash a/c to another bank a/c or one bank a/c to another bank a/c or cash a/c, is called a contra entry. Contra Voucher is used to transfer the money from one Bank Account to another Bank Account. Such as cash deposit, cash Withdrawal etc. 45 TALLY ERP 9 EBOOK – MULTIPLE CHOICE QUESTIONS WITH ANSWERS; by Gkseries; BUY NOW. Option: [C] Go To 20 of 100+ Questions→ Rs. leaving a net amount due of 800 (1,000 – 200). Reply of your all question relating to voucher entry is available here. 2. remove what you typed into a field. Tally also provides exact currency denominations to monitor and print the deposit slip while also depositing the amount. Mandatory fields for voucher entries through voucher interface. In Voucher entry mode, press F12: Contra Configuration and set the following to Yes: Skip the Date field in Create Mode (faster entry!) There are lots options available. A box will show ‘Voucher … Line Account : This account is debited. Payment Voucher. You enter the Receipt Voucher, Payment Voucher, Contra Voucher and Journal Voucher. Description- A Payment Voucher entry is prepared when a firm pays money in cash or by cheque, Demand Draft or any other means to a customer, supplier or to any other source. Payment Voucher is used to keep record of payment mad in cash and by cheque. That is cash/bank account, through which payment is done. Debit and credit aspects of a single transaction are entered in the same account but in different columns. Contra Voucher in Tally ERP9 When you do internal funds transfer from one bank account to other bank account or cash withdrawals from bank or cash deposited in bank account in these cases you have to pass entry by using the contra voucher in Tally ERP9. Select By to enter Debit Amount, select To enter Credit Amount. See in right side. Contra Entry Journal; Account Debit Credit; Accounts payable: 200: Accounts receivable: 200: Total: 200: 200: The Accounting Equation. contra voucher is used for _____ Question Contra Voucher is used for _____ A Reports. Fig-4. you have to use a Contra Voucher (Gateway of Tally > Accounting Vouchers > F4)to pass cash deposit entry in Tally.ERP 9. Press Ctrl+H (Change Mode) to select the Double Entry mode. C Cash Account to Bank Account or Bank Account to Cash Account. In the dual entry accounting system, a contra entry is an entry which is recorded to reverse or offset an entry on the other side of an account. State-wise Current Affairs. There are many … The business has agreed with the customer that the balances are to be offset by contra entry. a. Therefore, you need to select the stock items that come in or move out at the time of purchase or sales voucher entry. Usually, the contra entries will appear in the following occasions. You want to enter a purchase voucher. Contra Voucher Ka Use Hum Tab karte Hai Jaha Par Bank Se Related Entry ki Baat Aati Hai. Apart from the Sales and Purchase V ouchers that record the inventory movements, the following vouchers are used to record the stock movements. Contra Entry Journal. Select this icon with the help of mouse or press ‘F4 key’. display next voucher during voucher entry: Enter : To accept a voucher or master. Use single entry mode for payment/receipt/contra vouchers; Use payment/receipt as contra voucher; Payment/Receipt/Contra > Ctrl+H (Change Mode) > Single Entry; Related options, like bank ledgers, are available by default in the selection table. It estimates 10% of its accounts receivable will be uncollectible and proceeds to create a credit entry of 10% x $40,000 = $4,000 in the contra account, allowance for doubtful accounts. aapne sabse pahle i no par jo option aata hai voucher entry par click karna hai ya fir aap enter bhi kar sakte hai. Specify the version of the Voucher Entry MBF Processing Options program (P0400047) that the system uses to create voucher records. Basically, a clerk will create a Journal Voucher where they believe the dollars should be posted to specific GL Accounts. 1. Dealing with contra entry in tally is very easy. Contra Voucher: Entries which affect the Cash and Bank Account together are termed as Contra Vouchers. If a debit entry is recorded in an account, it will be recorded on the credit side and vice-versa. When you post Journal Entries from Journal Voucher it gets finalize for accounting. Now, select date icon or press’F2’ key. For example, withdrawal from bank is one such transaction. The Payment Voucher can be used as a proof of payment made from an account. ‡ Debit Note for Goods rejected and returned to supplier. CONTRA Voucher-F4 (Deposit / Withdrawal/Transfer) in Tally.ERP9: As per accounting rules , contra entry is a transaction indicating transfer of funds from.. Cash Account to Bank Account (Cash Deposit) Bank Account to Cash Account (Cash Withdrawal) One Bank Account to … Use Cr/Dr instead of To/By during entry . Journal Voucher: Entries which are affecting neither the Cash Account nor the Bank account are termed as Journal Vouchers. The business records the agreed offset with a contra entry journal as follows. If you are taking cash out of the bank for office use : Dr. Cash A/c Cr. Under Particulars in the To field, select the source ledger account that you want to Credit. accept anything you type into a field. Record Contra Voucher in Double-Entry Mode. By / To. The function of each voucher type is explained. Answer & Explanation. If a debit entry is recorded in an account, it will be recorded on the credit side and vice-versa. CONTRA ENTRY (F4) According to accounting rules, Contra Entry is a transaction indicating transfer of funds from: Cash account to Bank account; Bank account to Cash account; Bank account to Bank account; To view the Contra Voucher Entry Screen: Go to Gateway of Tally > Accounting Vouchers ; Select F4: Contra from the button bar or … Header Account : This account is credited. Particulars. you may use F4 or press contra from the voucher entry screen. Debit the destination account and credit the source account. Journal Voucher in Tally; Unlike other vouchers, a journal voucher in Tally can come under the roof of both accounting and inventory vouchers. The firm's cash is deposited in the bank. jaisa ki mene sabse pahle samjhane ke liye payment voucher open kiya hai. B Master Entry. Hence We should know what type of voucher to be selected For example, if you are withdrawing cash from your bank’s ATM, the cash ledger should be debited and bank ledger should be credited. If I have to elaborate and give an example in this matter. D None of the Options. Eazy Auto Voucher : Create Payment, Receipt, Contra, Journal, Sales, Purchase bulk voucher generator with multiple inventory, multiple cost centre, multiple country taxes, postdated voucher, auto bill by bill, etc…. Setup : In Voucher entry mode, press F12: Contra Configuration and set the following to Yes: Skip the Date field in Create Mode (faster entry!) In the dual entry accounting system, a Contra Entry is an entry which is recorded to reverse or offset an entry on the other side of an account. c. The cash is withdrawn from bank for office use. So, no configuration is available ; Gateway of Tally > F12 > Voucher Entry > Accounts. iske baad aapne agar aap ne receipt voucher me entry karni hai ya fir payment voucher me entry karni hai us option par enter karna hai. b. Contra Entry according to me is, If a transaction requires entries on both the debit and the credit sides simultaneously, it is called 'Contra entry'. There are normally 6 types of entries or vouchers in tally Purchase Sales Receipt Payment Contra Journal We have to Select Correct type of voucher/Entry Only then we can pass the entry . Journal Entry is the final Account Posting and Journal Voucher is just a Save as draft in which Journal Entries are saved as draft. Answer: There are conceptual differences between the journal voucher entry and the contra vouchers entry. Contra Entry. Bank A/c If you are depositing cash into the bank : Dr. Bank A/c Cr. ExampleSuppose Rs 5000 cash withdrawn from ICICI Bank ATM on 1 AugustEntry will beCash Dr 5000To ICICI Bank 5000Note:It is a Contra Entry as Cash is debited and Bank is CreditedAlways Pass in Double EntryIt is always better to pass Contra Entries in Double Entry to prevent wrong entriesProcedure fo A Journal voucher is used to book all the expenses or income whereas the contra voucher is used to payoff or receive the outstanding balances that are shown in the journal entry. Contra Voucher Description Records funds transfer between cash and bank accounts Voucher Entry Account Amount Amount State Bank of India Credit (Bank Accounts) Petty Cash Debit (Cash-in-hand) Use a Contra Voucher to record the entry. Voucher Entry Version. Esc : came out of a screen. As per the Accounting Principles, a Contra entry is a transaction involving transfer of cash between one Cash A/c to another (e.g.