A “Contra Entry” is an entry on general ledger when funds are moved from one account to another account. This is to be used is cases like withdrawing cash from Bank account, or depositing cash into bank account, or moving funds from savings to fixed deposit etc.

To make Contra Entries, go to Accounting -> Bank Accounts and click on the ‘Transfer Funds from this account to another account’ icon (green arrow) present in the actions column.

Upon which, it redirects you to a page to transfer funds from one account to another.

You can also bulk upload Contra Entries into the portal by using ‘Bulk Transfer Entries’ button on the Bank Accounts screen.