Groups and Ledgers in Tally Prime Notes

Groups and Ledgers in Tally Prime computer training class Notes. Pre defined Groups and Ledgers, Create New, Alter, Credit and Debit amount. Step by Step Notes for Tally training.

Groups in Tally Prime

Pre-Defined Group

Gateway of Tally  > Chart of Account > List of Masters >Groups

There are 28 predefined groups in Tally

15 groups are Primary Groups and the remaining 13 groups are Sub-Groups

1. Branch / Divisions (P)		15. Direct Expense (P)
2. Capital Account (P)		16. Direct Incomes (P)
3. Reserves & Surplus		17. Fixed Assets (P)
4. Current Assets (P)		18. Indirect Expenses (P)
5. Bank Accounts		19. Indirect Incomes (P)
6. Cash-in-Hand		20. Investments (P)
7. Deposits (Asset)		21. Loans (Liability) (P)
8. Loans & Advances (Asset)		22. Bank OD A/c
9. Stock-in-Hand		23. Secured Loans
10. Sundry Debtors		24. Unsecured Loans
11. Current Liabilities (P)		25. Misc. Expenses (Asset) (P)
12. Duties & Taxes		26. Purchase Accounts(P)
13. Provisions		27. Sales Accounts (P)
14. Sundry Creditors		28. Suspense A/c (P)

Creating Group

Gateway of Tally > Masters > Create > Accounting Masters > Group  

Group Name	Under	Nature of Group
Building	Fixed Assets	—
Office Equipment	Primary	Assets
Deprecation	Primary	Expenses

Check on Gateway of Tally > Chart of Account> Groups

Ledgers

Creating Ledger

By default there is two ledgers

1. Cash
2. Profit and Loss A/c

Check the default ledgers Gateway of Tally>Charts of Accounts>Ledgers

Gateway of Tally > Masters  > Create >Ledger

Ledger Name	Group Under
Punjab National Bank	Bank Account
State Bank of India	Bank Account
Petty Cash	Cash in Hand
Opening Stock	Stock in Hand
Suresh Singh	Sundry Debtors
National Pvt. Ltd.	Sundry Debtors
Building Cost	Building (Fixed Assets)
Building Accrued Dep	Building (Fixed Assets)
Office Equipment Cost	Office Equipment (Assets)
Office Equipment Dep	Office Equipment
Sales Tax	Duties & Taxes
T.D.S	Duties & Taxes
Shivam Kumar	Sundry Creditors
Sona Enterprise	Sundry Creditors
Education Loan	Secured Loan
Bill Receivable	Current Assets
Computer Sales	Sales Accounts
Software Sales	Sales Accounts
Parts Sales	Sales Accounts
Bank Interest	Indirect Incomes
Purchase	Purchase Accounts
Wages	Direct Expenses
Freight	Direct Expenses
Salaries	Indirect Expenses
Office Expenses	Indirect Expenses
Advertisements	Indirect Expenses
Bank Charges	Indirect Expenses
Building Deprecation	Deprecation
Office Equipment Accrued Dep	Deprecation

Ledger Alteration

Gateway of Tally > Masters  > Alter >Ledger

Particulars	Debit	Credit
Punjab National Bank	35000
State Bank of India	40000
Petty Cash	500
Opening Stock	50000
Suresh Singh	15000
National Pvt. Ltd.	5000
Building Cost	75000
Building Accrued Dep		6000
Office Equipment Cost	25000
Office Equipment Dep	1000
Sales Tax		9000
T.D.S		4500
Shivam Kumar		32000
Sona Enterprise		20000
Education Loan		60000
Bill Receivable		14000
Computer Sales		72000
Software Sales		75000
Parts Sales		35000
Bank Interest
Purchase	120000
Wages	10000
Freight	500
Salaries	20000
Office Expenses	3500
Advertisements	2000
Bank Charges	2500
Building Deprecation	2500
Office Equipment Accrued Dep		80000
Total	407500	407500

Trial Balance

Gateway of Tally > Display more Reports> Trial Balance > Press F5 (Ledger wise and Group wise)

Thanks for study the Notes on Groups and Ledgers in Tally Prime