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Whether passing of contra entry is mandatory

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16 March 2017 Whether passing of contra entry is mandatory in case of transfer of money from one bank account to another bank account or we can pass a payment voucher in place of passing contra entry?

16 March 2017 transactions between banks can be passed only through contra entry

17 March 2017 Sir thanks for your reply. Now my query is whether it is compulsory to pass a contra entry Or we can pass a payment voucher in tally?




17 March 2017 Yes, it is compulsory

and even if you want to pass it through payment voucher tally itself won't allow it because if you pass it through payment voucher bank names won't appear under expenses.



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