Groups of Tally in English and Hindi

 

Groups in Tally

Creates 28 predefined groups in tally, 15 groups are primary groups and 13 groups are Sub-groups.

 

The different types of groups are-

1. Primary Groups

2. Subgroups

 

Example of Group

List of Primary Groups in Tally

 

1. Branch/ Divisions	6. Indirect Income	11. Current Assets
2. Capital Accounts	7. Suspense Account	12. Direct Incomes
3. Sales Accounts	8. Current Liabilities	13. Fixed Assets
4. Loans (Liabilities)	9. Misc. Expenses (Asset)	14. Direct Expenses
5. Indirect Expenses	10. Purchase Accounts	15. Investments

List of Sub Groups in Tally

 

1. Sundry Creditors	6. Duties & Taxes	11. Bank Accounts
2. Secured Loans	7. Deposits (Assets)	12. Reserves & Surplus
3. Stock in Hand	8. Bank OD Accounts	13. Loan & Advances (Assets)
4. Provisions	9. Unsecured Loans
5. Cash in Hand	10. Sundry Debtors

1.Bank Account:- 

Whatever is the Ledger of our Current Account or Saving Bank Account, we will keep it in Bank account Group. Example: SBI Bank A/c, PNB Bank A/c, IDBI Bank A/c etc.

2.Bank O/D (Bank Overdraft) & Bank OCC (Bank Overdraft cash credit):- 

Whenever we get a loan from any bank, we will have to keep the bank loan ledger in any one of the group either Bank o/d or Bank Occ.

3. Branch / Division:- 

Whenever a company which has many branches, that too in different state or district can open a bank account with the help of two branch/division, we will keep such accounts in the group of branch/division. Example like branch of Delhi is different and branch of Allahabad is different.

4. Capital Account:- 

Whoever is a businessman and when he invests money in his business, the group we have to use for that is Capital Account group. Example (Capital, Drawing, LIC, Income Tax will be kept in Capital A/c group).

5.Secured Loans:- 

Whenever we take such a loan which you have taken from someone other than the bank, that means you have taken a loan by keeping some security, then we will keep it in the group of Secured Loan.

For example, you have taken a loan from Bajaj Finance, like you have taken a car finance, have taken a gold loan, want to take a loan by mortgaging your building, such loans in which you are taking a loan after keeping security, we will keep all such loans in the group of Secured Loans.

6.Unsecured Loans:- 

When we take a loan from any of our friends or relatives, we keep them in the group of Unsecured Loans.

7. Loan & Advance (Assets):- 

When we have to give loan to someone or make advance payment, we will keep them in the groups of Loan & Advance (Assets). Example- Advance Salary Loan to Deepak Etc.

8.Deposit (Assets):- 

Whenever we do any such investment in which we have Time-Period and Profit Decide and we already know that how much money I am investing and I will get money after that much time, then it We will keep in Groups of Deposit(Assets).

Example- FD (Fixed Deposit), RD, KVP, NSC, PPF or whatever the scheme of Govt, Bonds are, we keep them in Deposit (Assets) Group.

9.Investment:-

 Such investment in which time limit and profitable is not determined and you have made such investment, in which you do not know whether there will be profit or not, or if it will happen then after how much time it will happen, it is also not fixed whether it will be profit or loss. If it is seen that loss is also possible, then we will keep such Legers in the Investment Group.

Example- Share, Mutal Funds, Lottery.

10. Direct Expenses:- 

All those expenses which are related to the factory and effect our production, we keep all those Ledgers in Direct Expenses. Example. Wages, Power bill, Factory Rent, Factory Insurance, Carriage Inward Etc.

11. Indirect Expenses:- 

We keep all such expenses which are related to the office in the group of Indirect Expenses Example: Discount Paid, Rent Paid, Commission Paid, Interest paid, Bad Debts, Salary Paid Etc

12. Indirect Incomes:- 

We keep the Ledgers of all such incomes which are received in addition to the sale of Goods in the group of Indirect income. Example: Discount Receipt, Rent Receipt, Commission Receipt, Interest Receipt Etc.

13. Duties & Taxes:- 

We keep the Ledgers of all the Taxes we use except Income Tax in Duties and Taxes Ledgers. Example Sales Tax, CST, VAT, TDS, Service Tax, GST, SB Cess, KK Cess, Surcharges Etc.

14. Fixed Assets:- 

We keep such property in the group of Fixed Assets to use such property which we do not buy only for sale and which are life long.

Example Plant, Machinery, Building, Land, Computer, Car, Furniture, Cycle Etc.

15. Provision:- 

In order to sell Future Coss in business, we have to make some funds, we call them Provision.

Example: Provision For Bad Debts, Provision For Income Tax, Provision For Sundry Creditors, Provision For Sundry Debtors.

16.Purchase Account:- 

We will purchase and purchase return goods, we will keep all those ledgers in Purchase Group.

17.Sale Account:- 

If we sell and return the goods, then we will keep them all in the group of Sales Account.

18. Sundry Creditors:- 

We will keep all the Ledger's in the group of Sundry Creditors from the parties from whom we buy goods on credit and to whom we have to pay money.

19. Sundry Debtors:- 

We will keep all such Ledgers in the group of Sundry Debtors to all such Parties to whom we sell money on credit and from whom we have to take money.