Tally Prime

Grouping for Success: Understanding Groups in Tally Prime”

By amitgupta

Posted on February 17, 2023

12 min read

172

What are Groups in Tally Prime

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

1. 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 Prime

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. Bank Accounts: – Bank Accounts Group includes all bank accounts. Except bank loan account.

Ex.- HDFC Bank A/c, Bank of India A/c

2. Bank OCC A / c: – Bank OCC A / c means Bank open cash credit A / c All Bank Loan OCC A / c is included in this group. If we have taken a loan from a bank. So that account will be included in the Bank OCC A / c Group.

Ex:-IDBI Bank Loan A / c, HDFC Bank Loan A / c

3. Bank OD A / c: – Bank OD A / c mean Bank Overdraft A / c. All Bank Overdraft A / c are included in this group. If we have over drafted the account with a bank. So it is included in this group.

Ex: IDBI Bank OD A / c, HDFC Bank OD A / c

4. Branch / Divisions: – If there is a large scale of work in our company i.e. our company is a branch in any other new area also. And we also get money from those branches. So all the accounts related to that Branch / Divisions are kept in the Branch / Divisions Group. The nature of this group is Asset.

Ex: ABC Textiles Patna A / c, XYZ Textiles Sasaram A / c

5. Capital Account: – The Capital Account Group includes the accounts of the owner of the Company (Ledgers).

Such as: – If the owner of a company is Ram. So, Ram A / c.

6. Cash-in-Hand: – There is no need to make Cash Ledger in Tally. Because Cash account is already made in Tally. However, sometimes Petty Cash account is created by the company.

Ex: Petty Cash A / c

7. Current Assets: – All types of assets that can be easily converted into cash are called Current Assets. If we have given Advance Payment to a firm, company or individual. So we will give the Current Assets Group to those Ledgers.

Ex: Prepaid Rent, Mutual Fund.

8. Current Liabilities: – If we have taken any Advance Payment or Loan from a firm, company or person etc. So we will give the Current Liabilities Group to those Ledgers.

Ex: All Bill Payable, CGST Payable

9. Deposits (Asset): – If we have made any investment or any fix Deposits in our business and we know that after several years our investment will be completed, then we will give Deposits (Assets) Group while creating such Ledger.

Ex: Security Deposit, Office Rent Deposit

10. Direct Expenses: – If there is any direct expenditure in our business. That is, the expenditure incurred at the time of purchasing goods or at the time of production of goods. So while making Ledger of all those expenses, they will give them Direct Expenses Group.

Ex: Transport Expense, Freight Expense.

11. Direct Incomes: – If there is any kind of direct income in the business. That such income, which is related to the sale of goods, will be given by the Direct Income Group while making the Ledger of such income.

Ex: Freight Charges Income, Transport Charges Income

12. Duties & Taxes: – Duties & Tax Group is provided for all types of Tax related accounts (Ledgers) in business.

Ex: Input CGST, Input SGST

13. Fixed Assets: – The presence of the business will give Fixed Assets Group when creating Ledgers of all types of fixed assets. These permanent assets are also helpful in the running of the business.

Ex: Land, Computer

14. Indirect Expenses: – Expenses which are not related to the purchase of goods or production of goods in the business. So while making the Ledgers of such expenses, they will be given the Indirect Expenses Group.

Ex: Telephone charge, Salary

15. Indirect Incomes: – If there is any kind of indirect income in the business. Income that is not related to the sale of goods. So when making Ledgers of all that income, Indirect Incomes Group.

Ex: Interest Received, Discount Received

16. Investments: – If we invest in business for a long period. And we do not know whether this investment will result in Profit or Loss. So the Investment Group will give the accounts of such Investments.

Ex: Long term investment, Investment in Shares

17. Loans & Advances (Asset): – If we give Advance Payment or Loan to any party in business. So, such Ledgers are given the Loans & Advances (Asset) Group.

Ex: Loan Give to Friends, Relatives and company.

18. Loans (Liability): – If we take Advance Payment or Loan from any party in business. So such Leaders are given the Loans (Liability) Group.

Ex: Loan from Outside Party etc.

19. Provisions: – Provisions Group will give all those accounts (Ledgers). Which we have to pay in future.

Ex: Audit Fees Payable, TDS Payable

20. Purchases Accounts: – In the business, the Purchase Accounts Group gives all the ledgers for the purchase of goods and Return of goods.

Ex: Purchase Local, Purchase Interstate etc.

21. Reserves & Surplus: – Reserves & Surplus Group will give accounts related to reserves and surplus.

Ex: General reserve, All Type Reserve etc.

22. Sale Accounts: – In the business, the Sale Accounts Group gives all the ledgers for the Sale of goods and Return of goods.

Ex: Sale Local, Sale Interstate etc.

23. Secured Loans: – If we have taken such a loan in business, Except for the bank. Which has to have some security, so all those accounts (Ledgers) will be given Secured Loan Group.

Ex: Gold Loan, Car Finance Loan etc.

24. Stock-in-Hand: – Stock-in-Hand Group will give Stock related accounts in the business.

Ex: Opening stock, Closing Stock etc.

25. Sundry Creditors: – The person, institution, firm or company or other in the business, from whom we purchase goods on credit and the parties we have to pay money.

Ex: Mohan A/c, Danish A/c etc.

26. Sundry Debtors: – The person, institution, firm or company, or other in the business to which we sell of goods on Credit and the parties we have to take money from.

Ex: Rohan customer A/c, Jacks Debtor A/c etc.

27. Suspense A / c: – If there is no address of payment or Receipt of any party in the business. So Suspense A / c Group is given to such accounts.

Ex: Party Suspense A / c etc.

28. Unsecured Loans: – In business, if we have taken a loan from a friend or relative. Unsecured Loan Group will give all their accounts.

Ex: Loan Give to Friends, Relatives and Company etc.