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A journal entry, in accounting, is the logging of a transaction in an accounting journal that shows
a company’s debit and credit balances.The total of the debits must equal the total of the credits
or the journal entry is considered unbalanced. Every organisation will pass journal entry for Asset
depreciation. Now i will show you how depreciation recorded in Moiboo.

Step1>Go to“Journal” under “Accounting”Tab.
Step 2> Click on “add Journal”.

Step 3>Add Notes.
Step 4>Select date.
Step 5>Select Asset.
Step 6>Add credit amount.
Step 7>Select depreciation ledger.
Step 8>Add debit amount.
Step 9>Click “Save”.

As per the accounting principles, a contra entry is a transaction involving transfer of cash between
one cash A/c to another and one cash A/c to another bank A/c i.e., is a transaction indicating
trans- fer of funds from:

  • Cash account to bank account.
  • Bank account to cash account.

Step 1>Go to“Contra”under “accounting” tab.
Step 2> Click on “add Contra”.

Step 3>Select Amount.
Step 4>Select Date.
Step 5>From cash and To Bank name.
Step 6>Add a notes for your reference.
Step 7>Click “create”. Payment Deposited successfully.

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