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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 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:
1.      Debit the Bank Account
2.      Credit the Cash Account
The entry will be displayed as shown.


Advantages of Single Entry Mode:

·         Faster data entry.
·         When there is a Single Debit and Multiple Credits in the entry.

Creating Contra Entry in Double Entry Mode

The Contra entry can be passed using Double Entry mode where we have the option to select multiple Debits and multiple Credits. To select multiple Debit and Credit ledgers in the Double entry mode, set Use Single Entry Mode for Payment/Receipt/Contra to No in F12: Configure.

 

Entering in Double Entry Mode

Go to Gateway of Tally > Accounting Vouchers
1.      Select F4: Contra from the Button Bar or press F4.
If you pass the same entry in Double Entry Mode, it will be displayed as shown:


Note: If you require Cr/Dr instead of To/By, as explained in the Configuration section, activate the option Use Cr/Dr instead of To/By during entry in F12: Configure.
  

Use Payment / Receipt Voucher as Contra

The Contra Voucher is used to indicate transfer of funds from
·         Bank account to Cash account
·         Bank account to Bank account
·         Cash account to Bank account.
·         Cash account to Cash account.
When you are passing a Payment voucher, you do not get the Cash and Bank Ledgers for selection in the list of Ledger Accounts on the Debit side and when you are passing a Receipt voucher, you do not get the Cash and Bank Ledgers for selection on the credit side.
However, for users who wish to use the Payment and Receipt vouchers for this nature of transaction, Tally.ERP 9 has the flexibility of defining Payment and Receipt behaviour as per Contra voucher.
Go to Gateway of Tally > Accounting Vouchers
1.      Select F5: Payment from the Button Bar or press F5.
2.      Set the option Use Payment as Contra to Yes in F12: Configuration screen.


3.      Click Accept to save.

If the option Use Payment as Contra is set to Yes in the F12: Configure screen, the cash and bank accounts will be displayed for selection.


If the option Use Payment as Contra is set to No in the F12: Configure screen, the cash and bank accounts will not be displayed.


Example:
Ramesh encash a self Cheque for Rs. 15000 from State Bank of India on 1st April 2012. How can we pass this Contra entry?

Answer: Create a Voucher entry & Press F4: then Press F2 for Change the Date. In Credit Side we Enter the name of Bank because we withdrawal from Bank & debit side we enter cash. See Below Image.


Note: You can see the red rectangle in the above image. This section is (Bank Allocation) for Enter the Cheque Details, Means Drawee name (Ramesh) withdraw Rs. 15000 from Bank & we enter Ramesh Name in favoring of, Cheque date is 1/4/2012, nature of payment (Self or A/c Payee). It is useful to reconciliation our Bank Statement in TallyERP.9






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