contra tally

 Contra

Fund transfers within different accounts of your company, such as transfer from one bank account to another, deposit of cash to bank account, cash withdrawals from ATMs or, withdrawals from banks using Cheque or DD, can be recorded using Contra Voucher in TallyPrime. Such fund transfers from one account to the other – say Cash A/c to Bank A/c or vice versa – appear on the same side of the company’s balance sheet, and do not impact your company books. This does not include transferring money to any third-party account as part of a payment. Keeping a record of the contra entries helps to track internal fund transfers done month-wise or voucher-wise, for different business needs. You can get a periodic view of the contra entries to have a better understanding of the fund transfers from one account to the other using Contra Register in TallyPrime.