A contra voucher is used when a transaction involves bank and cash transactions, for examples transferring funds between banks, withdrawing funds from bank and depositing cash in bank, so lets learn how to create a contra voucher in tally prime
Gateway of Tally
Open tally prime and select your company and you will see gateway of tally screen
Voucher Screen
From gateway of tally screen press v for voucher
Contra Voucher
Access Contra voucher screen by pressing F4 (F4 is the shortcut key of contra voucher)
Voucher Details
Enter the date as per your bank statement
F2 is the shortcut key to change the date when you are in a voucher screen
Account Details
Select the account which needs to be crebited (eg cash or bank) in accounts
And in particulars select the account which needs to be debited (eg cash or another bank account)
Enter the amount of transaction
In narration enter a note (for example – Cash deposited in bank of india)
Accept the voucher
Press enter to accept the voucher or press Ctrl + A to save the voucher
Examples of contra entries in tally prime
Cash Deposited in Bank Account
Credit the cash account
Debit the bank account in which you are depositing the amount
Cash Withdrawn from bank account
Credit the bank account
Debit the cash account
Bank to bank Transfer entry in tally prime
Credit one bank account and debit the another bank account in tally prime
Tips for creating contra entry in tally prime
Create proper ledgers under proper groups
For example Cash under cash in hand group and bank under bank accounts
You can also choose options like a single entry system and double entry systems
Ctrl H is the short cut key for changing the voucher mode