CONTRA VOUCHER
Contra
voucher is used for fund transfer between cash & bank accounts (ledger
placed under groups; Cash in hand, Bank Accounts & Bank OCC) only.
Following
transactions should be entered in Contra voucher:-
· Cash deposited into bank: Cash outflow, equal inflow at Bank Account.
· Cash withdrawn from bank: Outflow from bank account, equal cash inflow.
· Cheque of one bank deposited to another bank: Outflow from one bank account equal
inflow to another bank account.
· Cash given to / received back from petty cash: Outflow from one cash account, equal
inflow to another cash account.
VOUCHER RULES
The entries
in Contra Voucher follow the rule shown below:
Particulars
|
Debit
|
Credit
|
Cr Source
of Funds
Dr Destination of funds
|
(Amount)
|
(Amount)
|
Entry Rules: The 1st entry is always
credit. From 2nd entry on-wards you may Debit or Credit a ledger Cash, Bank Accounts and Bank OCC Group
only.
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