Account Master - general ledger contra accounts functionality

How do General Ledger Contra Accounts work?

• Account master

• Contra Accounts

• General Ledger

General Ledger Contra Accounts have the 'opposite' sign as normal accounts.

Expense contra accounts would have a Credit original budget instead of a Debit. Actuals work similarily.

Revenue contra accounts would have a Debit original budget instead of a Credit. Actuals work similarly.

MUNIS Help

Contra Account - Indicates that the account is a contra account, when selected. In Next Year Budget Entry, accounts identified as contra accounts show on the Account Info screen as a negative amount in black for expenses and a positive amount in red for revenues.

The system does not perform available budget checks for contra accounts.