contra entries
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ok im having a bit of bother with the contra entries on Unit 3. im not sure how to balance it of twice. can anyone show me an example????
its a contra entry of £550 between the service income and plca
or email me denise_southard@hotmail.com
many thanks
:oops:
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Comments
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Re:contra entries
Mmmm could just be me but a "contra" entry is:
Company X owes you money.
You also owe company X money.
You match the two off canclelling the same amount on both.
If you mean journal entry im afraid youll have to supply more info, unless your question rings a bell with someone else on here?
Adrian0