How to create Contra Entry in Single Entry mode?
The Contra Voucher can be passed using Single Entry mode or Double Entry mode. To toggle between Single Entry and Double Entry mode, we need to change the setting for the option Use Single Entry mode for Pymt/Rcpt/Contra to Yes/No in F12 configuration.
To view Contra Voucher creation screen in Single Entry mode:
Go to Gateway of Tally > Accounting Vouchers > Select F4: Contra
For example, to transfer funds from Cash Account to Bank Account:
Debit the Bank Account
Credit the Cash Account
The entry will be displayed as shown.