What is a Contra Account? Types & Examples Explained
A contra account is an entry on the general ledger with a balance contrary to the normal balance for that categorization (i.e. asset, liability, or equity). There is almost always…
A contra account is an entry on the general ledger with a balance contrary to the normal balance for that categorization (i.e. asset, liability, or equity). There is almost always…
Journal Entry Management impacts the financial close process, allowing firms to achieve a 30% reduction in days to close. This function provides automated posting alternatives, which considerably speeds up the…