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

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)

Must Read: How to Pass Journal Entries In Tally ERP 9

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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
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

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

Below is the Ledger Head and its respective Group in Detail

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Below is the Ledger Head and its respective Group in Detail

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