contra entry

contra entry
An item booked to a *general ledger account to *offset, cancel, or partially reduce another item. A contra entry is not restricted to the same general ledger account as the item to which it relates - the related item may be made in any general ledger account. The Latin word contra means "against" or "opposite."

Auditor's dictionary. 2014.

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  • contra entry — ➔ entry * * * contra entry UK US noun [C] ACCOUNTING ► an amount that is included in one part of a set of accounts as the opposite of an amount in the other part. For example, the contra entry of a €100 credit (= amount added) is a €100 debit (=… …   Financial and business terms

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  • entry — / entri/ noun 1. an item of written information put in an accounts ledger (NOTE: The plural is entries.) ♦ to make an entry in a ledger to write in details of a transaction ♦ to contra an entry to enter a similar amount on the opposite side of… …   Dictionary of banking and finance

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