Javatpoint Logo
Javatpoint Logo

What are Groups in Tally ERP 9

The group is a collection of leaders of the same natures. Tally software automatically creates 28 groups that are used in the account chart. Out of 28 predefined groups in tally, primary groups are 15, and the sub-groups are 13. The different types of groups are as follows:

  1. Primary Group
  2. Sub Group

Primary Groups

This group is the main group. Primary groups are at the top of the hierarchy. Among 15 groups, 6 groups are profit and loss a/c items, and 9 groups are balance sheets items.

List of Primary Group in Tally

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

2. Sub Groups

This group is part of the primary group. It can be divided into 13 groups.

List of Sub Group in Tally

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

Tally follows the single leader concept of accounting, and this leads to direct contrast to subsidiary leader accounting. Using the ledgers or account heads, all the financial entries can be performed. According to the requirement of the company, we can group all ledgers and financial statements.


Next TopicCreate Group




Help Others, Please Share

facebook twitter pinterest

Learn Latest Tutorials


Preparation


Trending Technologies


B.Tech / MCA