list of ledger accounting groups in tally erp 9

Ledger Accounting groups list

To display list of groups

Go to gateway of tally--->Account info--->groups--->Select Display in single or multiple group options.

1.Bank/divisions-->all of your branches of company or branches of bank comes under bank/division.

                             

                             ex: mumbai branch,kolkotha branch.

2.Capital account--->Capital account is your own account(propriter or owner).

                  

                              ex: shares capital,your partners capital.

3.Current assets--->assets means anything that can be converted into cash easily by selling them.assets  are                                just like properties or things,that you can sell easily for cash.

                              ex:Cash at bank,cash in hand,recievables,sundry debters.

4.Current liabilities--->Liabilities are payments you need to pay to others in a short period.

          

                                 ex: Electricity bills,shop rent,sundry creditors ect.

5.Direct expences--->These are manufacturing expenses or trading expenses.

                                 ex:wages,transport charges ect.

6.Direct income--->

7.Fixed assets--->The assets which are you cant converted into cash easily are known as fixed assets.

                           

                            ex: buildings,mchineries.

8.Indirect income--->Incomes which comes regularly.and these indirect incomes are non-sale incomes.

                                 ex: commission income recieved,rent recieved.

9.Indirect expenses--->Indirect expenses are expenses which are in regular and fixed.these are non sale account expenses.

                                 ex: rent,salery ect.

10.Investments--->In this account you can group your investments in shares-stocks,government securities.

11.Loans liabilities--->Long term Loans taken from others.

                                   ex:Bank od accounts.

12.Misc.expenses--->Theses are accounts with unexpected expenses in nature.

                                   ex:Accidents,fire ect.

13.Purchase account--->Purchase related account.

                                      ex:goods purchase,raw material purchase.

14.Sales account--->Sales related account.

  

                               ex:goods sales.

15.Suspense account--->In this account you can enter the transactions which you dont know the nature of transaction.

16.Bank account--->In this account all bank account and there diffrenet kind of accounts like current account,savings account ect are placed.

                                 ex:sbi bank,HDFC bank

17.Bank o.d. account--->O.D is over draft account.if you have current account then bank will give you the facility of O.D.This facility is only for comapanies and organisations.

18.Cash-in-hand--->Tally automatically creates cash account.you can create or open more than one cash account.

19.Deposit(assets)--->It includes security deposits,fixed deposits and other deposits if company made any deposits.

20.Duties and taxes--->Includes all the duties and taxes you recieved or paid through sales or purchase transactions.

                                    ex:VAT,excise duty,cst

21.Loan and advance(assets)--->The loans and advances that given to employes and suppliers.

                                                  ex:Salery advance ect.

22.Provisions--->In this account you have to group all payables.

                           ex:salery payables,rent payables ect.

23.Reserves and surplus--->This includes ledgers like capital reserves,share reserves,reserves for depreciation ect.

24.Secured loans--->when loans given to you with the security you provided to banks then this terms as secured loans.

25.Unsecured loans--->Loans taken without providing any security is termed as unsecured loans.These type of loans you can get from your partners or from family.

26.Stock in hand--->This accounting group includes stocks in hand.

                                 ex:raw materials,work in progres,finished goods.

27.Sundry debtors--->When you sell your products or services the pary will be sundry debtor.

28.Sundry creditors--->when you purchase a product or service then the party will be sundry creditors.