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List of Group

List of Groups in Tally – Meaning – Tally ERP 9 Tutorial Notes

List of groups is used for creating ledgers category and it is the important process for creating ledgers

Gateway of Tally >Accounts Info > Group

Bank account Bank Account
Bank OD account Branch/division
Capital account Cash in hand
Current asset Current liability
Deposit Direct expenses
Direct income Indirect expense
Indirect income Duties and tax
Fixed asset Investment
Loans and advance Loan (liability)
Miscellaneous expenses Provisions
Retained earning Reserves and surplus
Purchase account Sales account
Secured loan Stock in hand
Sundry debtor’s Sundry creditors
Suspense Unsecured account

List of Group in Tally ERP 9

Tally ERP 9 : Meaning Of Accounts Group

Current Asset:            
It is converted into cash within a year. Ex. Bills receivable

Direct Expenses:        
These are the expenses which are directly related to manufacturing of goods.
Ex. Wages, factory rent, heating, lighting etc

Indirect Expense:       
These are the expenses which are indirectly related to manufacturing of goods.
Ex. Salary, rent, stationery, advertisement, printing

Depreciation:                          Decrease the value of the asset.          

Sundry Debtors:                      The person who is the receiver or customer

Sundry Creditors:                   The person who gives or supplier.

Expenses Outstanding or Unpaid Expenses or Expenses Due:
Expenditure incurred during current year but the amount on which is not yet paid. (Added to the expenditure on the debit side and entered on the liability side.)

Income Received in Advance or Income Received But Not Earned
            Income received during the current year but not earned or a part of which relates to the next year. (Deducted form the concerned income on the credit side and entered on the liability side)

Prepaid Advance or Expenses or Prepaid Expenses
            Expenditure paid during current year but not incurred or a part of which relates to the next year is called expenditure prepaid. (Deducted from the concerned expenditure on the debit side and entered on the assets side)

Income Outstanding or Income Earned But Not rRceived or Income Accrued

            Income outstanding means income earned during the current year but the amount on which is not yet received (added to the concerned income on the credit side and entered on the asset side)  
 

Below is the Ledger Head and its respective Group in Detail

Gateway of Tally >Accounts Info > Ledger > Create

 

Ledger

Group

Opening stock

Stock in hand

Purchase

Purchase account

Purchase return

Purchase account

Fright charges

Direct expenses

Carriage inwards or Purchases

Direct  expenses

Cartage and coolie

Direct expenses

Octroi

Direct expenses

Manufacturing wages

Direct expenses

Coal, gas, water

Direct expenses

Oil and fuel

D
irect expenses

Factory rent, insurance, electricity, lighting and heating

Direct expenses

Sales

Sales account

Salary

Indirect expenses

Postage and telegrams

Indirect expenses

Telephone charges

Indirect expenses

Rent paid

Indirect expenses

Rates and taxes

Indirect expenses

Insurance

Indirect expenses

Audit fees

Indirect expenses

Interest on bank loan

Indirect expenses

Interest on loans paid

Indirect expenses

Bank charges

Indirect expenses

Legal charges

Indirect expenses

Printing and stationery

Indirect expenses

General expenses

Indirect expenses

Sundry expenses

Indirect expenses

Discount allowed

Indirect expenses

Carriage outwards or sales

Indirect expenses

Traveling expenses

Indirect expenses

Advertisement

Indirect expenses

Bad debts

Indirect expenses

Repair renewals

Indirect expenses

Motor expenses

Indirect expenses

Depreciation on assets

Indirect expenses

Interest on investment received

Indirect income

Interest on deposit received

Indirect income

Interest on loans received

Indirect income

Commission received

Indirect income

Discount received

Indirect income

Rent received

Indirect income

Dividend received

Indirect income

Bad debts recovered

Indirect income

Profit by sale of assets

Indirect income

Sundry income

Indirect income

Loan from others

Loan Liabilities

Bank loan

Loan  Liabilities

Bank overdraft

Bank OD

Bills payable

Current Liabilities

Sundry creditors

Sundry creditors

Mortgage loans

Secured loans

Expense outstanding

Current Liabilities

Income received in advance

Current Liabilities

Other liabilities

Current  Liabilities

Capital

Capital account

Drawings

Capital account

Cash in hand

Cash in hand

Cash at bank

Bank account

Fixed deposit at bank

Deposit

Investments

Investments

Bills receivable

Current asset

Sundry debtors

Sundry debtors

Closing stock

Stock in hand

Stock of stationery

Current asset

Loose tools

Fixed asset

Fixtures and fittings

Fixed asset

Furniture

Fixed asset

Motor vehicles

Fixed asset

Plant and machinery

Fixed asset

Land and building

Fixed asset

Leasehold property

Fixed asset

Patents

Fixed asset

Goodwill

Fixed asset

Prepaid expenses

Current asset

Income outstanding

Current assset

 

 

Trading account: Buying and selling of goods.
Dr.                     Receiving aspect                                                                     Giving aspect     Cr.

Direct expenses

Amount

Direct Income

Amount

To Opening stock

Xxx

By Sales

xxx

To Purchases

Xxx

By (-)Sales return

xxx

To (-)purchase return

Xxx

By Closing stock

xxx

To Freight charges

Xxx

To Cartage and coolie

Xxx

To Lorry hire

Xxx

To Manufacturing expenses

Xxx

To Wages

Xxx

To Factory rent, fuel power

Xxx

To Gross profit (transfer to profit and loss account)

Xxx

To Profit and loss account: Actual profit and loss of the business

Indirect expenses or payments

Amount

 

Indirect income or receipts

Amount

To Salary

xxx

By Gross profit

xxx

To Postage and Telegram

xxx

By Interest on investment received

xxx

To Telephone charges

xxx

By Interest on deposit received

xxx

To Rent paid

xxx

By Interest on loans received

xxx

To Rate and taxes

xxx

By Discount received

xxx

To Insurance paid

xxx

By Discount received

xxx

To Interest on bank loan

xxx

By Rent received

xxx

To Bank charges

xxx

By Bad debts received

xxx

To Printing and stationery

xxx

By Net loss

xxx

To Discount allowed

xxx

To Advertisement
To Carriage outward (sales)
To Depreciation on assets
To General expenses
To Traveling
To Bad debts
To Net profit

 

Balance sheet: Actual financial position

Liabilities Amount Assets Amount
Bank loan

xxx

Cash in hand

xxx

Bank overdraft

xxx

Cash at bank

xxx

Bills payable

xxx

Fixed deposit at bank

xxx

Sundry creditors

xxx

Investments

xxx

Expenses outstanding

xxx

Bills receivable

xxx

Capital

xxx

Sundry debtors

xxx

(1414
-)drawings

xxx

Closing stock

xxx

Net profit

xxx

Stock of stationery

xxx

Furniture

xxx

Plant machinery

xxx

Land and building

xxx

Motor vehicles

xxx

Prepaid expenses

xxx

Income outstanding

xxx

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