Contra Entry in O2VEND | How to Create and Manage Contra Transactions

A contra entry is used to record transactions that involve both cash and bank accounts.
In O2VEND, contra entries help you manage internal fund transfers accurately without affecting your overall business balance.

What Is a Contra Entry?

A contra entry is an accounting transaction where:

  • Both debit and credit involve cash or bank accounts
  • The entry is recorded in the cash book

Since the transaction happens within your business, it does not affect profit or loss—only the movement of funds is tracked.

Contra Entry Examples

Here are some common examples:

  1. Cash received from customers and deposited into bank
  2. Cash withdrawn from bank for office use
  3. Transfer between cash and bank accounts

These are internal transactions, not income or expenses.

How to Create a Contra Entry in O2VEND

Follow these steps to create a contra voucher:

  1. Open Back Office
  2. Go to Vouchers
  3. Click on Contra
  4. Click Create Contra (top-right corner)
  5. Select:
    • Creditor account
    • Debitor account
  6. Enter details in the Narration field (optional but recommended)
  7. Enter the total amount and press Enter to add it
  8. Add multiple debit/credit rows if required
  9. Click Save

Create Contra Entry (Screenshots)

Create Contra Entry

Contra Entry Form

Viewing Contra Entries

Once saved, all contra entries are listed in the Contra section.

Contra List View

To view a specific entry, open it from the list:

Contra View

Contra Entry in General Ledger

Contra transactions are automatically reflected in the general ledger, as they impact both cash and bank accounts.

Contra General Ledger

Best Practices

  • Always verify creditor and debitor accounts
  • Use narration for better tracking and audit clarity
  • Record entries regularly to maintain accuracy
  • Use contra entries only for internal fund transfers

FAQ – Contra Entry

What is a contra entry in simple terms?

A contra entry is a transaction that moves money between cash and bank accounts within the same business.

Does a contra entry affect profit or loss?

No, it only changes the location of funds and does not impact income or expenses.

Can I add multiple debit and credit entries?

Yes, O2VEND allows multiple rows in a single contra voucher.

A contra entry in O2VEND helps you record cash-to-bank and bank-to-cash transactions accurately.
By using contra entries correctly, you can maintain clean financial records, better tracking, and easy reconciliation.