LIABILITIES/Chart of Accounts in Balance Sheet Liabilities /Incomes | Tally erp9

LIABILITIES 

Current Liabilities (P) 
Duties &Taxes (P) 

• Sales Tax (L) 

Sundry Creditors (P) 

• Challenger Systems (L 
• Horizon Enterprises (L.) 
• Silverplus Computers (L) 
• Tax Deducted at Source (L) 

Loans (Liability) (P) 
Secured Loans (P) 

• Mutual Trust Loan (L) 

Capital Account (P)

• Equity Capital (L)                                                                                                                                                                                 Chart of Accounts in Balance Sheet Liabilities 

Revenue Accounts appearing in the Profit & Loss Account 

INCOME 
Sales Accounts (P) 

• Computer Sales (L) 
• Component Sales (L)
• Printer Sales (L) 

Indirect incomes (P) 

• Bank Interest (L)

EXPENSES

Purchase Accounts (P) 

• Computer Purchase (L) 
• Pinter Purchase (L) 
• Purchase (L) 

Direct Expenses (P) 

• Wages (L) 
• Freight Charges (L) 

Indirect Expenses (P) 

• Salary (L) 
• Office Costs (L) 

Depreciation (NPG) 

Chart of Accounts in Profit& Loss account Expenses 

Tally.ERP 9 Walk-through to Create Group Names for National 

Traders.Check the following: 
1. Check whether the Current Date is April 1, 2010. To change the Current Date, click F2: Date on the button bar.Note that Tally ERP 9 increments the date assuming that you want to change to the next day.You can accept it or change it.Type 1-4-2010 and press Enter to accept.
2.Press Esc, if you do not have the Gateway of Tally menu displayed.Let us now get familiar with Tally.ERP 9's Display functions.

Displaying groups in Single Group and Multiple Group in the chart of accounts. 
Go to the Gateway of Tally >Accounts Info.> Groups > Display (Single Group) Bank Accounts. 

You can now use the Page Up and Page Down keys to view different groups.  

N.B,

• The Groups. in Tally ERP 9, serve to both classify and identify Account heads (ledger accounts) according to their nature. This enables a presentation of summarized information.                        
• The Groups have a hierarchical organisation. At the top of the to hierarchy are Primary Groups where accounts are classified in capital or revenue, more specifically into assets, liabilities, income and expenditure to determine the entire accounting and their presentation ie, whether a ledger affects Profit & Loss Account (as a revenue item) or goes into the Balance Sheet.                                                                
• Tally ERP 9 provides a set of reserved groups, based on mercantile accounting principles, and allows you to modify their names or create sub-groups and primary groups. 

Let us now view the List of Groups in the Multiple Display Mode. Go to the Gateway of Tally > Accounts Info. > Groups Display (Multiple Groups) > Seled All Items