Ledger Groups in Tally | How to Define a Group for Ledger
You can see the financial statements with the appropriate accounting heads and arrange the ledger accounts with the aid of groups. It falls under the categories of Liabilities, Expenses, Incomes, and Assets. While groups produced under expenses and incomes are part of the profit and loss account, any groups created under assets and liabilities are part of the balance sheet.
Ledgers Already Created in Tally
Sr. No.
Ledger Name
1
Cash
2
Profit and Loss Account
Group 1- Bank Account/Bank OCC / OD
Sr. No.
Ledger Name
1
All Bank Current Account
Group 2- Capital Account
Sr. No.
Ledger Name
1
Share Capital
2
Partner Capital Account
3
Partner Current Account
4
Proprietor Account
5
Drawings
6
Life insurance
7
Equity Capital A/c
8
Partners Capital A/c
Group 3 – Current Assets
Sr. No.
Ledger Name
1
Prepaid Expense
2
Prepaid Rent
3
Prepaid Insurance Charges
4
Interest Receivables
5
Bill receivable
6
Accrued income
7
Mutual Fund
8
CGST SGST IGST Credit
Group 4 – Current Liabilities
Sr. No.
Ledger Name
1
Bill drawn
2
Bill Payable
Group 5 – Duties & Taxes
Sr. No.
Ledger Name
1
INPUT CGST SGST IGST CESS
2
OUTPUT GST SGST IGST CESS
3
Excise Duty Payable etc
4
Service Tax Payable
5
TDS Payables
6
Input Vat Accounts
7
Output Vat Accounts
8
Cenvat Accounts
9
Sale tax
10
Income Tax
11
VAT Payable
Group 6 – Direct Expenses OR Expenses(Direct)
Sr. No.
Ledger Name
1
Labor
2
Power
3
Electricity Expense (Factory)
4
Loading Unloading Expense
5
Warehousing Expenses
6
Custom Clearing Charges
7
Carriage
8
Freight & Cartage
9
Import duty
10
Coal & Fuel
11
Coal, Gas & Water of Factory
12
Consumed Material
13
Export Duty
14
Wages on Production
15
Delivery Charges(In Purchase Bill
Group 7 – Direct Incomes OR Income(Direct)
Sr. No.
Ledger Name
1
Freight Charges Income
2
Delivery Charges Income
3
Transportation Charges Income
4
Professional Charges Income
5
Consultancy Charges Income
6
Maintenance Service Income
Group 8 – Deposit Account
Sr. No.
Ledger Name
1
Security Deposit
2
Electricity Deposit
3
Rent Deposit
Group 9 – Fixed Assets
Sr. No.
Ledger Name
1
Furniture
2
Machine
3
Mobile
4
Computers
5
Furniture and fittings
6
Car
7
Scooter
8
Laptops
9
Office Building
10
Goodwill
11
Factory Lighting
12
Air Conditioner
13
Accumulated depreciation
Group 10 – Indirect Income OR Income(Indirect)
Sr. No.
Ledger Name
1
Discount Received
2
Interest on Investment
3
Received Interest on Saving Bank Account
Group 12 – Investments
Sr. No.
Ledger Name
1
Investment in Shares
2
Investment in Bonds
3
Investment in Property/Plot etc.
4
Long term investment
5
Short Term Investment
Group 13 – Indirect Expenses OR Expense(Indirect)
Sr. No.
Ledger Name
1
Salary Paid
2
Advertisement Expense
3
Maintenance Expense
4
Director Remuneration Expense
5
Bad Debts
6
Printing Expense
7
Stationary Expense
8
Foreign Exchange fluctuation
9
Audit Fees
10
Professional Charges
11
Legal Expenses/Charges
12
Depreciation Expenses
13
Interest Expense
14
Penalty
15
Royalty
16
Bank charges
17
Commission allowed
18
Discount allowed
19
Donation & charity
20
Free sample
21
Insurance premium
22
Interest on loan
23
Loss by fire
24
Postage & courier
25
Repair charge
26
Taxi fare
27
Telephone charge
28
Traveling expenses
29
Outstanding expenses
30
Accrued expenses
31
Loss on theft
32
Coffee Expenses
33
Coke Expenses
34
Manager’s Commission
35
Fuel Expenses A/c
36
Liability of Expenses
37
Preliminary Expenses A/c
38
Professional Fees
Group 14 – Secure / Unsecured Loans Liabilities
Sr. No.
Sr. No.
1
Debenture A/c
2
Loans From Bank
3
Loans From Outside Party
4
Loans From Person
Group 15 – Purchase Account
Sr. No.
Ledger Name
1
Purchase A/c
2
Purchase Local 12 %
3
Purchase Interstate 12%
4
Purchase Local 0%
5
Purchase Interstate 0%
6
Purchase (Composition)
7
Purchase Exempt (Unregistered Dealer)
8
Purchase Local (Exempt Registered)
9
Purchase Taxable (Unregistered Dealer)
10
Purchase Nil Rated (Unregistered Dealer)
11
Purchase Reverse Charge
12
Purchase Import Taxable 12%
13
Purchase Import Exempt
14
Purchase Import Nil Rated
15
Purchase (Own Branch)
16
Purchase Return
Group 16 – Provisions
Sr. No.
Ledger Name
1
Provision for Tax
2
Provision for Expense
3
Provision for Sinking Fund
4
All types of Payable s like Salary Payable, Audit fees Payable,
Group 17 – Reserve & Surplus
Sr. No.
Ledger Name
1
General Reserve
2
Capital Reserve
3
Capital Reserve A/c
4
Investment Allowance Reserve A/c
5
Share Premium A/c
6
Reverse and Surplus
Group 18 – Stock-in-hand
Sr. No.
Ledger Name
1
Stock
2
Closing Stock
3
Consignment Stock
4
Opening Stock
Group 19 – Suspense A/c – when Payment or received Money from Unknown Person.
Group 20 – Sundry Debtors – When Sales Made or send a bill to the Party.
Group 21 – Sales Account
Sr. No.
Ledger Name
1
Sales A/c
2
Sales Local 12 % (Registered)
3
Sales Interstate 12%
4
Sales Local Nil Rated
5
Sales Interstate Nil Rated
6
Sellers Export With Bond
7
Sellers Export Taxable
8
Export (0%)
9
Sales Local (Exempt Registered)
10
Sale To Consumer (Taxable 12%)
11
Sale To Consumer (0%)
12
Sale To Consumer (Exempt)
13
Sales (Own Branch)
14
Sale Return
Group 22 – Sundry Creditors – When Purchases or Received a bill from a Party.
Group 23 – Secured Loan – When Loans taken with given security and Unsecured Loan – When Loans taken without given security.
