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 another Bank Account (Bank Transfer)
The following Vouchers can be done through the Contra Vouchers :
(a) Cash Deposited into Bank
(b) Cash Withdrawal from the Bank
(c) Funds Transfer from One Bank to another Bank
(d) Cash Transfer to Petty Cash
Gateway of Tally > Vouchers > Press F4 (Contra Vouchers)
Alternatively, press Alt+G (Go To) > Create Voucher > F4 (Contra Vouchers)
Transactions : ₹. 5000 deposited in State Bank Of India as on 1-09-2020.
Transactions : ₹. 5000 withdrawn from Axis Bank Ltd. as on 1-04-2020.
Transactions : ₹. 5000 transfer from Axis Bank Ltd to State Bank Of India as on 1-04-2020.
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