All about ledgers and the under group in tally erp 9

Accounting is a very popular field these days. It has become possible because of never ending great opportunities in this world in different fields. For becoming successful there is always a need to get some kind of expertise in a particular field. Same is the case with the field of Accounting. A lot of people are entering this field for a good future.

As we discussed there is need to learn all the facets of any particular field. Same is the case here. Tally is an important part of all the businesses and fields related to Accounting and related areas. So there is a need to learn more and more about this tally erp 9 thing.

Tally erp 9

Tally erp 9 is a very popular thing for the people in accounting and related fields. A lot of purposes are fulfilled by this single thing only. That is why there is need to learn more about tally ledger and other things like tally heads which are on our agenda today.

Ledgers and under group under the tally erp 9 thing

There are a lot of important things and features in tally erp 9. These things namely tally ledger and tally under group are one of these significant features and things in tally erp 9.

So we are today going to talk about ledgers and under group from a very basic perspective. This article is for all the people whether he or she is experienced or naive in tally erp 9.

We are going to talk about all the list of ledgers under group in tally erp 9. We will go through all the list of ledgers required for a new company opened in Tally erp 9 and also mention the head and sub head groups under which these ledgers are placed.

Ledgers list and its under group in tally

First of all it is to be understood that not all businesses require all the ledgers. There are always specific needs. So through the list of the ledgers and its under group in tally thoroughly and check out what are the needs of your business.

We will try to mention all the list of ledgers and the related under groups in tally. So here is list. Read it carefully.

• Tally under group head- branch/divisions

This is the under group and the list of ledgers to be created under this are as follows.

1. All the branches of related business. For example Delhi branch.

This ledger name must be created under this under group.

• Capital account

This is the next undergroup in tally under which these following ledger names are to be created.

1. Captail account
2. Partners/ owners drawing account
3. Share capital account
4. Partner’s current account

These are the most important ledger names to be created under this under group.

• Reserves and surplus

Here is the next undergroup in tally under which the following ledgers names are to created.

1. General reserves account
2. Capital reserves account

These ledger names cannot be missed under this under group.

• Current asset

Ledger names to be created under this under group are the following.

1. TDS paid
2. TCS paid
3. Goodwill
4. Bills receivable
5. Accured income
6. Prepaid Insurance
7. Income Tax assurance

These ledger must be created under the category of this under group surely.

• Bank accounts ledger name to be made under bank accounts under group.
• Bank CC accounts ledger name to be created under the under group by the name of bank OCC account.
• Bank OD accounts is the one of the only ledger list to be created under the Bank OD account under group.
• Cash- in- hand

Ledgers to be created under this under group are as follows.

1. Petty Cash account
2. Cash account

• Deposit asset

Ledger names under this under group category are the following.

1. NSC Deposit
2. Fixed Deposit

• Loans are advances

Ledger list to be made are the following ones.

1. Salary advance
2. Loans to Sister concern
3. Loans to director
4. Loans to partner

• Stock in hand

Ledger list names are following.

1. Opening stock
2. Closing stock

• Customer ledger list made under the sundry debtors under group category
• Current liabilities

Ledger list names are following.

1. Bills payable
2. Outstanding expense
3. Lease payable
4. Income tax payable
5. GST payable
6. TDS payable
7. TCS payable
8. Expense payable
9. Divident payable
10. Unearned revenue

• Duties and taxes

Ledger names made are as follows.

1. Sales tax account
2. Output Vat
3. Input vat
4. TDS account
5. TCS account
6. Excise Duty
7. CST account
8. Service tax
9. CGST
10. SGST
11. IGST
12. UGST
13. CESS

• Provisions

Ledger list are the following.

1. Provisions for bad debts
2. Audit free payable
3. Salary payable
4. Wages payable
5. Compound tax payable
6. Telephone charges payable
7. Rent payable

• Supplier ledgers under sundry Creations.
• Direct expenses

Ledgers names under this under group are the following.

1. Wages account
2. Repair and maintenance
3. Freight paid
4. Import Duty
5. Labor
6. Power
7. Electricity charges
8. Ware house expense
9. Custom cleaning charges

• Fixed asset

Ledger names under this under group are the following.

1. Building
2. Land account
3. Plant and machinery
4. Motor vehicles
5. Furniture
6. Computer and peripherals
7. Long term investment

• Indirect expenses

Under this under group we have following ledger names.

1. Interest on capital
2. Salary account
3. Directors remuneration
4. Partners salary
5. Legal charges
6. Insurance
7. Audit fee
8. Rates and taxes
9. Vehicle expense
10. Travelling expense
11. Amortization
12. Communication expense
13. Compound tax paid
14. Loss by fire
15. Scrap scale
16. Penalty
17. Commission received
18. Interest received

So these are the most important ledger names under different under groups in tally.