Contra account meaning

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A contra account is used in a general ledger to reduce the value of a related account when the two are netted together. A contra account's natural balance is the opposite of the associated account. If a debit is the natural balance recorded in the related account, the contra account records a credit.Contra Account Definition - Investopediawww.investopedia.com › Corporate Finance & Accounting › Accounting關於精選摘要General Ledger Definition - InvestopediaA general ledger is the record-keeping system for a company's financial data, with debit and credit account records validated by a trial balance. tw | twContra Asset - Examples, How a Contra Asset Account WorksA contra asset is an asset account in which the balance of the account will either be a zero or a credit balance. A contra asset account. | What is a contra account? | AccountingCoachDefinition of Contra Account A contra account is a general ledger account with a balance that is opposite of the normal balance for that account classification. tw | tw6 Types of Contra Asset Accounts and What They Mean | Indeed.com2021年2月22日 · This type of asset account is referred to as "contra" because normal asset accounts might include a debit, or positive, balance, and contra asset ...What is a Contra Account? - Back Office PartnersA contra account is simply a general ledger account that you can use to reduce the value of a related account. Note that contra account's balance is opposite of ...What Is a Contra Account & Why Is It Important?A regular asset account typically carries a debit balance, so a contra asset account carries a credit balance. Two common contra asset accounts include allowance ...General Ledger - Meaning, Process, Examples & Control Accounts2021年6月10日 · Posting of debit and credit part of entries will be carried on for every journal entry resulting from transactions. With automation playing its role, this ...What is Contra Account in Accounting2015年12月28日 · Contra means against. A contra account is a general ledger account which is planned to have its balance be the opposite of the normal ...Contra Expense Account | Double Entry Bookkeeping2019年12月17日 · Contra means against. In bookkeeping terms, a contra expense account refers to an account which is offset against an expense account to ...