Pre-defined Groups of Accounts
There are 28 predefined groups in Tally.ERP 9, which are widely used in the Chart of Accounts of many trading organizations. Out of these, 15 groups are Primary Groups and the rem 13 are Sub-Groups.
Among the 15 predefined groups, 9 Groups are Balance Sheet items and the remaining & groups are Profit & Loss A/c items. However, you may also alter the nomenclature of these predefined 28 Groups
The List of Accounts: screen is displayed as shown
1.Capital Account: Reserves & Surplus (Retained Earnings]
2.Current Assets: Bank Accounts Cash-in-hand Deposits (Asset) Loans & Advances (Asset) Stock-in-hand Sundry Debtors
3.Current Liabilities: Duties & Taxes Provisions Sundry Creditors 4.Fixed Assets:
5.Investments:
6.Loans (Liability): Bank OD A/c [Bank OCC A/c] Secured Loans Unsecured Loans
7.Suspense A/c:
8.Misc. Expenses (Asset)
9.Branch/Divisions
Out of the 15 pre-defined primary groups, the following are the six pre-defined groups that appear in the Profit & Loss Account.
1. Sales Accounts.
2. Purchase Accounts.
3. Direct Incomes [Income (Direct)]
4. Indirect Incomes [Income (Indirect)]
5. Direct Expenses [Expenses (Direct)]
6. Indirect Expenses [Expenses (Indirect)]
There are 28 predefined groups in Tally.ERP 9, which are widely used in the Chart of Accounts of many trading organizations. Out of these, 15 groups are Primary Groups and the rem 13 are Sub-Groups.
Among the 15 predefined groups, 9 Groups are Balance Sheet items and the remaining & groups are Profit & Loss A/c items. However, you may also alter the nomenclature of these predefined 28 Groups
The List of Accounts: screen is displayed as shown
1.Capital Account: Reserves & Surplus (Retained Earnings]
2.Current Assets: Bank Accounts Cash-in-hand Deposits (Asset) Loans & Advances (Asset) Stock-in-hand Sundry Debtors
3.Current Liabilities: Duties & Taxes Provisions Sundry Creditors 4.Fixed Assets:
5.Investments:
6.Loans (Liability): Bank OD A/c [Bank OCC A/c] Secured Loans Unsecured Loans
7.Suspense A/c:
8.Misc. Expenses (Asset)
9.Branch/Divisions
Out of the 15 pre-defined primary groups, the following are the six pre-defined groups that appear in the Profit & Loss Account.
1. Sales Accounts.
2. Purchase Accounts.
3. Direct Incomes [Income (Direct)]
4. Indirect Incomes [Income (Indirect)]
5. Direct Expenses [Expenses (Direct)]
6. Indirect Expenses [Expenses (Indirect)]
