sir kisi party ne cash bank m deposite karaya to ye contra entry h kya
26 Replies
prasad Nilugal
(3924 Points)
Replied 26 July 2018
yes. Contra entry
entry. will be
Bank. A/c Dr
To cash A/c Cr
( Being cash deposited in the Bank )
entry. will be
Bank. A/c Dr
To cash A/c Cr
( Being cash deposited in the Bank )
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 26 July 2018
No...
Contra entry available between Cash to Bank and Bank to Cash...
If you or parties directly deposit cash in bank then you ll be enter Receipt / Payment entry to Cash after enter contra entry from cash to Bank...
Contra entry available between Cash to Bank and Bank to Cash...
If you or parties directly deposit cash in bank then you ll be enter Receipt / Payment entry to Cash after enter contra entry from cash to Bank...
Sarath Rajendran
(Nil)
(2791 Points)
Replied 26 July 2018
If the party (debtor deposit) deposit money into the bank account Entry is Under Receipt category
Personal ( Company or the organosation) deposit and Withdrawal come under CONTRA
prasad Nilugal
(3924 Points)
Replied 26 July 2018
All cash to Bank ,, bank withdrawn from bank , cash to petty cash are treated as contra entry
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 26 July 2018
Yes agreed.
But, Party deposit cash into bank then what?
But, Party deposit cash into bank then what?
Dimple
(STUDENT)
(39 Points)
Replied 26 July 2018
If party deposits directly into bank then it's not a contra entry... It is receipt from party hence receipt entry would be made.
Entry would be
Party account Dr.
To Bank
And if you are using tally there is an option under bank allocation screen wherein you can show transaction type as CASH.
Hope you answer will satisfy
Entry would be
Party account Dr.
To Bank
And if you are using tally there is an option under bank allocation screen wherein you can show transaction type as CASH.
Hope you answer will satisfy
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 26 July 2018
@ Dimple,
Is it bank receipts or cash receipts?
Is it bank receipts or cash receipts?
RAMESH PATEL
(STUDENT)
(93 Points)
Replied 26 July 2018
for receipt from party entry would be
bank Dr
to party account
bank Dr
to party account
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 26 July 2018
Can explain about Bank payment/ Receipts and Cash payments / Receipts....!!!
prasad Nilugal
( GST Practitioner & Accounts )
(14870 Points)
Replied 26 July 2018
I am sorry I have not read the query properly or due to oversight its in Hindi , so any party or sundry debtors deposited cash directly in the bank its not contra entry
entry will be
First if we book the entry
1) Sundry debtors
To sales
(booking of entry )
When party deposit directly in the bank as per query
Bank
To sundry debtors
( Beign payment received )
So ,sorry , Its due to oversight mistake , I thought cash deposited in the bank
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 26 July 2018
Dear Prasad Nilugal Sir... Once again your states is wrong... Please check it again
prasad Nilugal
( GST Practitioner & Accounts )
(14870 Points)
Replied 26 July 2018
Whats worng Mr raja sir ?.
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