Contra account
You can use a contra account within an allocation to maintain the balance in the original account for reporting and inquiry. If you use a contra account, then you can use it for the post from detail lines in the journal entry that is created for interface to GL.
Example
To allocate 50 percent from account 41000's balance of $5000 while maintaining the original balance, you can use contra account 42000 to allocate $2500.
| Account | Posting option | Percent | |
| Post From | 41000 | C | .50 |
| Post To | 40000 | A | |
| Override |
55000 55250 |
| Account number | Debit amount | Credit amount |
|---|---|---|
| 41000 | 5000.00 | |
| 42000 | 2500.00 | |
| 55000 | 2000.00 | ‘ |
| 55250 | 500.00 |