Contra

A Contra voucher in accounting is a document used to record a transaction where both the debit and credit entries are made within the same company, typically within different accounts. It is often used when money is transferred between two accounts, such as moving funds from one bank account to another or from cash to a bank account.

To access the Contra, go to: > Home > Application > Finance > Operations > Contra

How can I get Benefit ?

ValueBot offers a useful feature for account ledger through Contra

• Simplifies Internal Transfers : It provides a clear method to record and document internal fund transfers between accounts, such as between cash and bank accounts.
• Ensures Accuracy and Balance : By recording both debit and credit entries for internal transactions, it helps maintain balanced and accurate accounting records.
• Improves Transparency and Auditability : Contra vouchers create a clear audit trail for internal transactions, making it easier to verify and track financial movements during audits.
• Supports Compliance : They help ensure that internal transfers are recorded in accordance with accounting standards, promoting proper financial reporting and regulatory compliance.

Properties

Primary Properties

Property	Description
Voucher No	Voucher Entry Number will generate default
Date	Date refers the Transaction date
Reference No	Can Enter other references number related to Voucher
To Credit	You Can Select Bank Account from list
Amount	Enter Amount you want to Receive
By Debit	You Can Select Bank Account from list
Amount	Enter Amount you want to Receive
Narration	Can Enter information related to Voucher

Line wise Properties

Property	Description
Type	If we select 'To-Credit,' the amount will be posted to the credited account
Type	If we select 'To-Debit,' the amount will be posted to the debited account
Ledger	You Can Select Account ledger from list
Amount	Enter the amount you need to post to the ledger

Create New Contra Voucher

• Go to the Contra

• You can observe Voucher Number is generated by default.
• Under the To Credit you can pick the Bank Account or cash on hand from the list you have already created.
• Enter the Amount which you have Pay.
• Under the By Debit you can Select the Bank Account or cash on hand from the list you have already created.
• Enter the amount to post to their Receive.
• By Clicking Add New You can you use Line wise Entries to post amount to other Bank Account or cash on hand.

• Enter any additional information in the Narration field for your reference.
• Click Save

Edit a Contra Voucher

• Go to the Ledger Summary
• Select Account Ledger and Choose the transaction

• Make Necessary changes
• Click Save

Delete a Contra Voucher

• Go to the Ledger Summary
• Select Account Ledger and Choose the transaction

• Click Delete

warning

Deleting a Contra from the ledger will cause a variation in the closing balance.

See Also

• Payment
• Purchase