Pastel then automatically generates your contra entries.

If part of the price of a property is paid to the solicitor in the form of a cheque made out to a third party, the cheques should be recorded on the face of the ledger card as a contra entry. 12.

If any cash is transferred from the office to the bank or a cheque is cashed for office use a contra entry is made, which means an entry is made on the debit and credit side of the cash book showing the transfer and c is written in the folio column.