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

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Gateway of Tally >Accounts Info > Group

Bank accountBank Account
Bank OD accountBranch/division
Capital accountCash in hand
Current assetCurrent liability
DepositDirect expenses
Direct incomeIndirect expense
Indirect incomeDuties and tax
Fixed assetInvestment
Loans and advanceLoan (liability)
Miscellaneous expensesProvisions
Retained earningReserves and surplus
Purchase accountSales account
Secured loanStock in hand
Sundry debtor’sSundry creditors
SuspenseUnsecured account

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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)  
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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

 

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

Direct expenses

Amount

Direct Income

Amount

ToOpening stock

Xxx

BySales

xxx

ToPurchases

Xxx

By(-)Sales return

xxx

To(-)purchase return

Xxx

ByClosing stock

xxx

ToFreight charges

Xxx

ToCartage and coolie

Xxx

ToLorry hire

Xxx

ToManufacturing expenses

Xxx

ToWages

Xxx

ToFactory rent, fuel power

Xxx

ToGross 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

ToSalary

xxx

ByGross profit

xxx

ToPostage and Telegram

xxx

ByInterest on investment received

xxx

ToTelephone charges

xxx

ByInterest on deposit received

xxx

ToRent paid

xxx

ByInterest on loans received

xxx

ToRate and taxes

xxx

ByDiscount received

xxx

ToInsurance paid

xxx

ByDiscount received

xxx

ToInterest on bank loan

xxx

ByRent received

xxx

ToBank charges

xxx

ByBad debts received

xxx

ToPrinting and stationery

xxx

ByNet loss

xxx

ToDiscount allowed

xxx

ToAdvertisement
ToCarriage outward (sales)
ToDepreciation on assets
ToGeneral expenses
ToTraveling
ToBad debts
ToNet profit

 

Balance sheet: Actual financial position

LiabilitiesAmountAssetsAmount
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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