Tally Ledger Groups List (Ledger under Which Head or Group in Accounts)

Tally Ledger Groups List

  •  Group means Type of account and decides how transactions takes place in accounting.
  •  Out of these 28 Groups, 15 are Primary groups and 13 are sub-groups. They are:

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1.    Capital Accounts: Handles owner’s account.

2.     Branch Accounts: All the Names of Branches/Divisions & Subsidiaries of the company.

3.    Current Assets: are divided into 6 sub-groups

a)     Bank accounts

b)    Cash in hand

c)     Stock in hand

d)    Sundry Debtors

e)    Deposits

f)      Loans & Advances

4.    Current Liabilities: covers all types of liabilities as follows

a)     Sundry Creditors

b)    Provisions

c)     Duties & Taxes

5.    Direct Expenses: used to record all Direct Expenses like

a)    Wages

b)    Purchase of Raw Materials

6.    Direct Incomes: all direct incomes like

a)    Sale of Goods

b)   Sale of scrap

7.    Fixed Assets: all types of Fixed assets like

a)    Machinery account

b)    Furniture account

c)     Buildings account etc.,

8.    Indirect Expenses: maintaining all expenses excluding direct expenses like Salaries paid, Rent paid, Depreciation etc.,

9.    Indirect Incomes: maintaining all incomes excluding direct incomes like Rent received, Interest Received etc.,

10. Investments: Keep overall record of all investments like shares, Govt. Securities etc.,

11. Loans: loans taken by the company 7 sub-divided into 3 groups:

a)    Bank OD

b)   Secured loans

c)    Unsecured loans

12. Misc. Expenses (Assets): covered which not covered in Direct & indirect expenses

13. Purchases account: maintain record of all purchases

14. Sales account: maintain record of all sales

15. Suspense account: enter the transactions whose details are yet to be finalized.

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4 comments on “Tally Ledger Groups List (Ledger under Which Head or Group in Accounts)

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