Skip to main content

Details Groups of Accounts Part 1

Details Groups of Accounts Part 1

Capital Account -  This records the Capital and Reserves of the company. The ledgers that belong to Capital Accounts are Share Capital, Partners’ Capital A/c, Proprietor’s Capital Account and so on.

Reserves and Surplus [Retained Earnings]

This contains ledgers like Capital Reserve, General Reserve, Reserve for Depreciation and so on

Current Assets - Current Assets record the assets that do not belong to either Bank Accounts or Cash-in-Hand sub-groups.

a)    Bank Accounts - Current account, savings account, short term deposit accounts and so on.

b)   Cash-in hand - Tally automatically creates Cash A/c in this group. You can open more than one cash account, if necessary. 

(Note: An account under Cash-in-hand group or Bank Accounts/Bank OCC A/c group is printed as separate Cash Book in the traditional Cash Book format and does not form part of the Ledger.)

c)    Deposits (Asset) - Deposits contain Fixed Deposits, Security Deposits or any deposit made by the company (not received by the company, which is a liability).

d)   Loans & Advances (Asset) - This records all loans given by the company and advances of a non-trading nature (example: advance against salaries) or even for purchase of Fixed Assets. We do not recommend you to open Advances to Suppliers’ account under this Group.

e)    Stock-in-hand - This group contains accounts like Raw Materials, Work-in-Progress and Finished Goods. The balance control depends on whether you have selected Integrated Account-cum-Inventory option while creating the company.

f)     Sundry Debtors – This subgroup comes under Current Assets and ;you can open ledger  accounts such as goods sold on credit ( Customer Accounts)

Conti... Part 2 Coming Soon
visit - 
Nasir Pathan

Popular posts from this blog

Open Existing Company in Tally.ERP9

Open Existing Company (Select Company)

Select Company-From The Company Info. MenuSelect the Option  Select Company by Pressing “S” Key or double Clicking at Select Company Option Open Existing Company

Create New Company in Tally.ERP9

Create New Company in Tally.ERP9

Creating a New Company-From The Company Info. Menu Select the Option Create Company by Pressing “C” Key or double Clicking at  Create Company Option

Enter Create Company Filling the Form Following Step by Step


Computer & Technical Institute Free Registration

Information Technology and Technical Education Council, Delhi ITT Council, Delhi
IT & Technical Education Board Register Your Institute Free Scheme* Free Registration*
National Level CertificateCertificate Course And Diploma CoursesOnline AdmissionOnline ExamOnline Provisional ResultOnline PaymentOnline Student Attendance Software FreeCertificate Dispatch By  Post Video Tutorial Facility Coming Soon 
All Type of Training Institute Computer Institute Technical Institute Parlor & Fashion Designing Institute