Module 03: Masters - Groups. Module 04: Masters - Billwise Detbtors and Creditors Ledger. Module 05: Payment Voucher. Module 06: Day Book in Tally. Nov 25, 2009 - Tally.ERP 9 provides you a list of Groups called pre-defined groups. This list is automatically made by this software. You can just display and. Contents • • • • • • • what is the definition of group and predefined in the tally Nowadays in accounting, entries are made in tally by using accounts heads. Tally follows the single ledger accounting concept.Therefore it is mandatory to group classify ledger according to their nature.It helps to select accounts head while preparing ledger.Regrouping of accounts is also available which help them to classify them more precisely. Finally, accounts are regrouped into the subgroup. Which help to classify them more properly and correctly. Tally provides predefined grouping of some ledger according ledger are selected. Tally provides pre-defined Groups in Tally.ERP 9, out of which 15 are Primary Groups and 13 are Sub-Groups. 15 Primary Group 15 Primary Group Branch/Division A/c Capital A/c Current Assets Current Liabilities Direct Expenses Direct income Fixed Assets Indirect expenses Indirect Income Investment Loans Misc. Expenses Purchase A/c Sales A/c Suspense A/c 13 Sub Group 13 Sub Group Bank Account Bank OD Cash in Hand Deposits Assets Duties and Taxes Loan & advancement Provisions Reserve and surplus Secured loans Stock In hand Sundry creditor’s Sundry debtors Unsecured loans Detailed about the predefined group in Tally.erp 1.Capital: It includes Capital A/c, Drawing A/c, Partners Capital A/c., Share Capital etc. Reserve and surplus: (retained Earning) It is another name for reserve and surplus accounts. Such as Capital reserve, general Reserve, Profit and loss account, reserve for depreciation, Reserve for income tax. 3.Current Assets: It contains the following subgroup • Cash All cash related Accounts • Bank All bank Related Accounts • Deposits (assets): All rental deposits, fixed deposits, security deposits etc which are made by the company. • Loan and Advancement (assets) loan and advancement provide to an outsider by the Company which is now trading. Example salary advance, advance for purchase of fixed assets etc. • Stock in hand: It includes opening and closing stock the balancing depends upon the type of inventory management. Types of inventory • Integrated inventory of accounting • Integrated inventory without accounting • Current Liabilities: It holds the Outstanding Liabilities, Statutory Liabilities, and some other minor liabilities. Liabilities such as PF, TDS, ESI also fall under this Group.It includes a) duties and taxes b) Provision c)sundry creditors 4.Fixed Assets: It includes all fixed assets of the company. 5.Investment: like bonds, securities, shares. 6.Loans (Liability): It keeps an account of the Loans taken by the Company. A) Bank OD Accounts [Bank OCC Accounts: Bank OCC is the alias name for Bank OD Accounts. It holds Over Draft Account like Bill Discounting Account, etc. B) Secured Loan: It holds the accounts of the loans taken by the company from Banks and other Financial Bodies by mortgaging its Fixed Assets. It is a secured loan so it has to be returned from the fixed asset of the company even if the company fails. C) Unsecured Loans: This is an unconditional loan obtained from Partners / Directors or outside parties. 7) Suspense Account: This account is opened when trail balance does not match and some discrepancy Balance Sheet. It is a Balance Sheet item and shown either an asset or balance sheet side. 8) Miscellaneous Expenses (Asset): This is mainly for legal disclosure requirements, like Schedule VI of Indian Companies Act. It is rarely used.This is a primary group. Create all expense accounts that are not written off to P&L A/c the same year in which they are incurred under this group. Such expenditure is written –off proportionally over a number of years Ex.
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