Tally 9 : HOW to Group ledger Account

Posted on April 18, 2009 by Mahendra • 17 Comments

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Sometimes back, I have write about basic groups in tally. Grouping of ledger is very important for finalisation of accounting reports. if you want to learn tally, then you must understand basic of accountancy and creating of ledger.

A balance sheet is nothing but a summary of various ledger balances on a given date which is grouped properly to give an easy understanding of the financial position of the orgnaisation.

Here is a rough idea about which ledger should be grouped under an appropriate category.

Below in BOLD is the name of group account and it displays which ledger should belong to it.

Capital Account: Consist of Owner/partner/share holders account

Loans Account: They are classified into secured and unsecured loan account.
Secured Loans are those which are secured against the mortgages of Assets/FDRs/investment etc. and a loan which is not secured is Grouped under unsecured loan account

Current Liability: It consist of sundry creditors (From whom a business unit purchase Goods/materials or avail services on credit), Advances received from Debtors and other kind of liability

Provisions: The approximate amount of expenses that needs to be provided on a Given date is grouped under this account

Fixed Assets: It consist all assets like land, plant, machinery, equipments, vehicle, furniture etc.

Investment: FDRS, investment in share of other company, bond etc.

Deposit: Deposit with Telephone Department, Electricity board, bank or any Kind of deposits are grouped under this head

Sundry Debtors: It consists of advances made to Sundry creditors, goods sold to Customers on credit etc.

Loans and advances: Other kind of recoverable in cash or kind such advances/loans given To staff, money recoverable from sundry creditors, advance tax paid etc.

The list if not exhaustive it consist only some main group of balance sheet.

After creating a new company in tally, you may view the in built default basic groups in tally by the following way

Go to main menu

Accounts Info

groups

display

you will see the list of groups in tally

Mahendra (192 Posts)

Mahendra is founder and CEO of the I Vision Infotech, Authorised Tally Sales and Service Partner and helping Tally users to learn Tally and accounting free through this site

Basic Groups in Tally

NAUSAD

Dear Sir
I am Privete School Accountatn
I want How can manten Grant Account in Tally Erp
Exampale : School Mantanace Grant Receive Rs. 5000
Repering School Build Rs. 3500
How can this Entry In tally
Iwant Cloing Balance in School Grant Head.

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ganesh

i have to deduct tds and make payment but i have directly made a payment but know i have to deduct tds from creditors from another payment what to do and how should be the entry in tally

Bobby

Dear sir,
I am working in retail business company, and company is having some shop in mall, i want to create group for every shop under same tally, so can u guide me how i can create this group and under which group of accounts in tally.

Thanks
Bobby

Aniket

thanks a lot sir for providing us such matchless knowledge in such a simple word.
cardinal thanks to you.!

Sanjay P

Hell Sir,

I want some information regarding materials issue to farm (Agriculture) so what type ledger create in under which head

subhashini

helo sir,

i have one house purchase in company name registration expense how to entry to tally

Charanjeet Kaur

Hello

Can you help me in learn of tally online means can you teach me tally in my mail id

sardargovindsingh

i am a professional in accountancy if u want to learn tally i ready to teach online

rahul nigam

give the name of fixed assets group and current assets group and how to entry of this name

how to entry of this point purchase plant& machinery rs 16600 give reply first

Mohammad Shareef

I have different Project and all contractor are different and I received payment from different Party all that I have to do under one company how to maintain that account of different Project Under one company in Tally accounting software ?

Mahendra

Mohammad Shareef,
You can manage all your project account in one company definitely.
use job/project in Tally

Thank you very much mahendra sir, sir can u explain briefly...( i dont have much knowledge in tally) m using tally 7.2

Sampath

1.Is it possible to sort of the spares part numbers during sales invoice entry list in ascending and descending order?

2.Materials(A.C pipes used for drinking water pipe line) dispatched to government municipality also undertake civil work i.e earth work excavation, laying, jointing under refilling charges.In this transaction, value of materials, civil work charges should be shown in debit balance of the govt minicipal account and also the stock in hand at municipality whcih is not yet used under civil work how to do account
Our requirement is stock at municipality every day value of materials and value of civil work should be shown in debit balance at municipality account

SANDEEP

Whast is the entry proceedure of Plant and machinery in tally,
Should we issue its to deparment in which mahcinery is working.

Pls provide me issued enrty of Plant and machinery

Sandip,
Are you referring to entry for purchase of plant and machinery ? and I don't understand what do you mean by issue it to department where machinery is working ? or you are referring to grouping of plant and machinery ?

Anitha

Dear Sir,
I have a doubt tally 7.2.
For example,
Opening Blance: Tender money deposit -2,51,200...
Tender money deposit is received through Syndicate Bank -Rs.250000/- on 08/07/2010...
How to make a entry for this??????
Please clarify my doubt sir?????