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Accounting Masters in Tally

Group and Ledgers

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31 views6 pages

Accounting Masters in Tally

Group and Ledgers

Uploaded by

questionnotes00
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Tally by default comprises of 28 predefined groups, out of these 15 groups are Primary Groups and the

remaining 13 are Sub-Groups.

Out of the 15 pre-defined Primary Groups,


Nine primary groups, which are capital in nature, display in the Balance Sheet.

Six primary groups, which are revenue in nature, display in the Profit and Loss Account.

All the 13 sub-groups are classified under the nine primary groups that are capital in nature and they appear
in the Balance Sheet.

Tally has pre-defined ledgers for Cash (under Cash-in-hand group) and Profit and Loss account (under
Primary group).

To display List of Accounts


Go to Gateway of Tally > Display > List of Accounts

Tips :
To view predefined Groups, press Ctrl+G
To view predefined Ledgers, press Ctrl+L
Groups
A group is a collection of ledgers with similar transactions. In Tally, you can create Groups and classify
any number of ledgers under a group.
Go to Gateway of Tally > Accounts Info. > Groups

There are two options for creating Groups in Tally :


 Single Group

 Multiple Groups

Creating Single Group:


To create a Single Group as Local Debtors,
Go to Gateway of Tally > Accounts Info. > Groups > Create (Under Single Group)
In the Group Creation screen,
Specify the Name of the Group as a Local Debtors
Under : Sundry Debtors
Press Enter to accept

Creating Multiple Groups : Administrative Exp and Investment in Mutual Fund

To create Multiple Groups,

Go to Gateway of Tally > Accounts Info. > Groups > Create (Under Multiple Groups)

Select All Items in the Under Group field and press Enter
Type the Name of Subgroups and select Under as below

Press Enter to accept

Displaying Group:

You can display the Groups in Single mode or Multiple mode.

 Go to Gateway of Tally > Accounts Info. > Groups > Display (Under Single Group)
 Select the Name of the Group from the List of Groups

Note : In the Display mode, alteration of Group details is not available. To make changes/ alteration, select
Alter.

Altering Group:

You can alter the Groups in Single mode or Multiple mode.

Go to Gateway of Tally > Accounts Info. > Groups > Alter (Under Single Group)

 Select the Name of the Group from the List of Groups


 Make the required changes and save
Note : You can delete a Group, by pressing Alt+D from the Alteration mode
Ledgers
Ledgers are the actual accounting heads used for recording financial entries. Apart from the two predefined
ledger accounts namely Cash (under Cash-in-Hand) and Profit and Loss Account (under Primary
Account), Tally allows you to create any number of ledger accounts as per your requirements.

Go to Gateway of Tally > Accounts Info. > Ledgers

In Tally, you may create ledger accounts in the following two ways :

 Single Ledger
 Multiple Ledgers

Creating Single Ledger : Mr. Sharma’s Capital

Go to Gateway of Tally > Accounts Info. > Ledgers > Create (Under Single Ledger)

 Specify the Name of the Ledger as Mr. Sharma’s Capital and select the group as Capital Account
in the Under field
 Enter other details, as required

Press Enter to accept


Creating Multiple Ledgers : Computer and NABIL Bank

Using this option, you can create multiple ledgers at a time.

Go to Gateway of Tally > Accounts Info. > Ledgers > Create (Under Multiple Ledgers)

Select All Items in the Under Group field and press Enter
Type the Name of Ledgers and specify the Group details as below

Press Enter to accept

Displaying Ledger:

To display a ledger account,

Go to Gateway of Tally > Accounts Info. > Ledgers > Display (Under Single Ledger)

Select the Name of the Ledger from the List of Ledgers

Altering Ledger

To alter a ledger account,

Go to Gateway of Tally > Accounts Info. > Ledgers > Alter (Under Single Ledger)

 Select the Name of the Ledger from the List of Ledgers


 Make the required changes and Save

Practice Exercise
Open earlier company Himalaya Darshan Infotech Solutions, Create following Groups in above Company.

2. Create following Ledgers in above Company.


Ledger Name Under
Nandini’s Capital Capital
Fixed Deposit with NABIL BANK Investment in Fixed Deposit
Fixed Deposit with Himalayan Bank Investment in Fixed Deposit
Staff Salary Indirect Expenses
Loan From Brother Loan from family
Mr. Shree Enterprises Local Customer
NABIL Bank Bank Accounts
Computer Fixed Assets

3. Open earlier company Himalaya Hospitality Serviece, Create following Groups in above Company

4. Create following Ledgers in above Company.


Ledger Name Under Maintain balances Inventory Values are
bill-by- bill affected
Purchase Purchase Accounts No Yes
Sales Sales Accounts No Yes
NABIL Bank Bank Accounts No No
Jyoti Enterprises Sundry Creditors Yes No
Kajal Solutions Mumbai Customer Yes No
Salary to Staff Administrative Exp No No
Advertisement Exp Selling & Distribution Exp No No
Bank Charges Financial Exp No No

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