What is contra entry in SAP EPM-FC - SAP BusinessObjects Financial Consolidation?

SAP Term: contra entry

• Component: EPM-FC

• Component Name: SAP BusinessObjects Financial Consolidation

• Description: A journal entry which is generated when a journal entry is reversed. Its value is the reverse of the original journal entry.

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• Key Concepts: 
  Contra entry is a type of journal entry in SAP BusinessObjects Financial Consolidation (EPM-FC) that is used to offset the amount of a transaction. It is used to adjust the balance of an account or to transfer funds between accounts. The contra entry is recorded as a negative amount in one account and a positive amount in another account. 
  
  How to use it: 
  Contra entries are used to adjust the balance of an account or to transfer funds between accounts. To create a contra entry, enter the negative amount in one account and the positive amount in another account. The total of the two entries must be zero. 
  
  Tips & Tricks: 
  When creating a contra entry, make sure that the total of the two entries is zero. This will ensure that the accounts are balanced and that no funds are lost or unaccounted for. 
  
  Related Information: 
  Contra entries are similar to journal entries, but they are used specifically for adjusting the balance of an account or transferring funds between accounts. For more information on journal entries, please refer to SAP's documentation on journal entries.