What are contra notes & contra vouchers ?

Describe in details, contra notes & contra vouchers .

1 Answer(s)


I can tell you about contra vouchers. contra vouchers are used for intra-company transactions (or transactions within the company that affect two ledger accounts) for e.g. cash withdrawn from bank for petty cash use in office or factory.

In the above example no outside party is involved and cash is going from one company 'pocket' (bank account) to another company 'pocket' (petty cash till).

you can create contra vouchers by following the below navigation path :
Gateway of Tally > Accounting Vouchers > F4

hope that answers your question about contra vouchers. I will try to find out about contra notes as well but at the moment I don't have any idea what they are about.