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I have tried my best to put all the relevant examples and explaining what the group or the ledger
actually is.
Still, you have any doubts or questions or just want to say thanks, go ahead comment down
below this post.
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List of Ledger Accounts & Groups in
Tally with Examples
I have sorted the list alphabetically for your ease.
Bank Accounts - Generally contains ledgers of bank accounts including current as well as
savings accounts.
Bank OCC A/c - It is a Bank Open Cash Credit Account which is normally used for getting cash
credit against stock and receivables in your business.
Bank OD A/c - It is a Bank Overdraft Account which is used when a bank gives you an overdraft
facility. It means that you can issue cheques from your account even if you have less funds.
For example, you have ₹1,08,000 in your bank account but you want to issue a cheque of
₹1,24,0000. The bank will issue the cheque by adding the remaining ₹16,000 of its own.
₹16,000 is called overdraft amount and you have to pay an interest on that amount.
This is also kind of short term loan but it is against your assets and deposits unlike Bank OCC
A/c which is against cash credit and receivables.
Branch / Divisions - The ledger under this group in Tally is for your branch or a division
situated at a different place other than your main area of operation.
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For example, SBI has main office in Mumbai, Maharashtra while branches all over India, there
will be one probably in your area too.
● Branch in Gujarat
● Branch in Madhya Pradesh
● Branch in Rajasthan
And so on.
Capital Account - This is one of the most important ledgers in Tally because without capital
account in Tally, it is impossible to generate full accounts.
Capital Account for an individual can be in his or her name and for a company in a company’s
name.
Cash-in-Hand - This is one of the two accounting groups under which a ledger is already
created in Tally by the name of Cash.
Any kind of Cash Account or ledger for Cash in Tally will be under this accounting group.
● Cash Account
● Petty Cash Account - generally used for daily expenses.
Current Assets - The assets that can be easily converted into cash in one year or a single
accounting cycle which is again, generally one year are called Current Assets.
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It also includes the ledger in Tally for Cash.
● Cash Account
● Petty Cash Account
● Cash Equivalent Accounts such as:
○ Short Term Government Securities
○ Short Term Government Bonds
● Short Term Investments
● Sundry Debtors or Account Receivables
● Bills Receivables Account
● Income Tax Refunds
● Cash in Advance to Employees
● Insurance Claim Receivable
● GST Refunds
● VAT Refunds
● Excise Refunds
● Customs Refunds
● Closing Stock or Stock-in-Trade including:
○ Work-in-Progress
○ Finished Goods
○ Manufacturing Materials
○ Packaging Materials
● Office Supplies such as pens, pencils, staplers, tape and so on.
● Advance Payments for any Purchases
● Interest Receivable
● Accrued Income
● Advance Deposits - Deposits paid in advance for purchasing goods and services.
● Dividends Receivable - If you are holding a share of a company and that company
declared dividends but the payment is pending then it is your current asset.
Current Liabilities - It is the exact opposite of Current Assets. Your debts or obligations which
are due within one year or single accounting cycle which is again, generally a year, are called
as Current Liabilities.
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● Excise Payable
● Customs Payable
● Interest Payable
● Bank Account Overdrafts
● Bank Account Open Cash Credit
● Accrued Expenses like salaries payable.
● Customer Deposits. These deposits are made by customers for purchasing goods and
services in advance.
● Dividends Payable. If you are a Company and have declared dividends but payment is
pending, then it is a current liability
● Short Term Loans
Deposits (Assets) - This includes any kind of deposits which are refundable and which you
have given to anyone, hence they are your assets - current assets to be specific.
● Telephone Deposit
● Credit Card Deposit
● Refundable Deposits in colleges, schools, libraries, trusts etc.
● Advance Deposit for purchasing goods or services
● VAT Deposit
● Excise Deposit
● Customs Deposit
Direct Expenses - These are the expenses which are directly related to your business or are
major part of expenses of your business.
These expenses form part of Trading Account and not the Profit and Loss Account.
● Purchases Account
● Discount given on Sales
● Cash Discount given on Sales
● Direct Materials
● Freight Charges
● Labour Charges or Wages
● Payroll Taxes like Professional Taxes
● Salaries
● Manufacturing Expenses
● Electricity Expenses relating to factory
● Loading & Unloading Expenses
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● Warehousing Expenses
● Customs Clearing Expenses
Direct Incomes - Incomes which form a major part of your business or are directly related to
your business are called direct incomes.
● Sales Accounts
● Discount received on Purchases
● Cash Discount received on Purchases
Duties & Taxes - This group in Tally includes all the ledgers related to taxation.
● Input CGST
● Input SGST
● Input IGST
● Input GST Cess
● Output CGST
● Output SGST
● Output IGST
● Output GST Cess
● Input VAT
● Output VAT
● Customs Duty
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Expenses (Direct)
Exactly same as Direct Expenses which you just read above in this post.
Expenses (Indirect)
Fixed Assets - The assets which are core to your business and generally have a life span of
more than one year or one accounting cycle.
Today they are classified into two groups. Tangible and Intangible.
Tangible Fixed Assets - Fixed Assets which you can touch like a computer are tangible
fixed assets.
Intangible Fixed Assets - Fixed Assets which you cannot touch like a copyright are
intangible fixed assets.
● Buildings
● Factories
● Offices
● Furniture
● Computers
● Mobiles used for business
● Equipments
● Machinery
● Vehicles used for business
● Copyrights
● Trademarks
● Software
● Patents
● Computer Programmes
● Goodwill
● Licenses
● Brand Names
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● Broadcast rights
● Internet Domain Names
Income (Direct)
Exactly same as Direct Incomes which you read above in this post.
Income (Indirect)
Exactly same as Indirect Incomes which you can read later in this post.
Indirect Expenses - These are the expenses which are not directly related to your business but
you need to incur them in order to run the business.
● Advertisement Expenses
● Auditing Fees
● Bad Debts
● Bank Charges
● Bank Commission
● Vehicle Expenses such as Car Expenses or Truck Repair
● Carriage Outwards i.e. on sales
● Commission on Sales or any other commission
● Depreciation on Fixed Assets
● Donation of any kind
● Insurance including Fire Insurance & Marine Insurance
● Forex loss due to change in exchange rates
● General Expenses
● Factory Rent
● Warehouse Rent
● Godown Rent
● Interest Expense including Interest on Loan
● Interest on Capital for Personal Accounts
● Legal Expenses
● Loss due to damage
● Loss due to fire
● Loss in Transit
● Loss on Assets
● Loss on Joint Venture
● Repairs for Machinery
● Commission to Manager
● Misc. Expenses
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● Office Expenses
● Packing Expenses
● Fuel Expenses
● Postage, Courier, Fax, Telegram and Mail Expenses
● Printing, Stationery and Advertisement Expenses
● Provision for Bad & Doubtful Debts
● Provision for Discount on Debtors
● Refreshment Expenses such as tea, coffee, biscuits etc.
● General Repairs and Renovation Expenses
● Shop Expenses
● Shop Rent
● Showroom Repair
● Trade Expenses
● Travelling Expenses
Any other kind of unexpected expenses which is not related primarily to your business.
Indirect Incomes - These are the incomes which are not directly related to the but you earn
them as a result of doing your main business.
● Dividend Income
● Sale of Scrap
● Bad Debts Received
● Commission Received
● Discount Received
● Insurance Claim Received
● Interest on Drawings for personal accounts
● Interest Received
● Misc. Income
● Provision for Discount on Creditors
● Profit on Sale of an Asset
● Profit on Sale of an Investment
Any other kind of unexpected incomes which is not related primarily to your business.
Investments - These are the ledgers or a group of ledger which you consider as an investment
in your company or in your personal accounts.
● Shares
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● Mutual Funds
● Bonds
● National Savings Certificates
● Post Office Savings Deposits
● Investment in Gold
● Investment in Silver
● Gold, Silver and other precious ornaments
Loans & Advances (Assets) - When you give a loan or kind of advance to anyone, it becomes
your asset.
Loans (Liability) - This is a liability and hence it includes all the loans that you have taken from
people, banks, financial institutions and so on.
Misc. Expenses (ASSET) - This group of ledger is generally not used. This is only used when
small expenses are clubbed together into one ledger.
Say, for example, you paid ₹1,000 for repair charges of a machinery. After one day of repair, the
machine broke down again and you called the repair person.
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He said, he cannot come now and he will refund the money in 15 days. Therefore, for that 15
days, repair charges which is a misc. expense will be your asset as now the repair person owes
you ₹1,000.
Provisions - When you set aside an estimated amount for an expense such as depreciation
on fixed assets or bad debts, it called a provision.
Purchase Accounts - This is is the most basic account or ledger or a group of ledgers used in
Tally or in accounting. It includes all the Purchases Ledgers.
● Purchase @ 0%
● Purchase @ 5%
● Purchase @ 12%
● Purchase @ 18%
● Purchase @ 28%
● Imports Exempt
● Imports Nil Rated
● Imports Taxable
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● Interstate Purchase Exempt
● Interstate Purchase from Unregistered Dealer - Services
● Interstate Purchase Nil Rated
● Interstate Purchase Taxable
● Purchase Exempt
● Purchase from Composition Dealer
Reserves & Surplus - Reserve is simply an appropriation of profits for a specific purpose. In
simple words, we set aside a specific amount for a specific purpose and that is called reserve.
While Surplus is the amount which is simply extra amount which we have in our business. For
example, extra profits.
I have created two separate lists. One for Reserves and one for Surplus.
● Capital Reserve
● Bad Debt Reserve
● Capital Redemption Reserve
● Dividend Redemption Reserve
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● Preference Redemption Reserve
● Debenture Redemption Reserve
● Bond Redemption Reserve
● Profit Surplus
● Other Income Surplus
Retained Earnings - Retained Earnings are the earnings which the company retains and
doesn’t pay out in the form of dividends or in any other way.
Sales Accounts - This is one of the most important and basic accounts in the list of Ledger
Accounts in Tally or in general accounting as well.
● Sales @ 0%
● Sales @ 5%
● Sales @ 12%
● Sales @ 18%
● Sales @ 28%
● Exports Exempt
● Exports LUT/Bond
● Exports Nil Rated
● Exports Taxable
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● Interstate Sales Nil Rated
● Interstate Sales Taxable
● Sales Exempt
● Sales Nil Rated
● Sales Taxable
Secured Loans - These are the loans that you take from banks, financial institutions and other
non-banking financial institutions but after giving suitable security to them.
Essentially, Secured Loans are almost same as the list of above Loans (Liability) but with
security.
Almost the same list as the above Loans (Liability) and other than that,
● Mortgage Loan
● Term Loan
● Car Loan
● Cash Credit
● Secured Overdraft
Stock-in-Hand - This is the closing stock in your business or the current stock that you have.
● Raw Materials
● Work in Progress
● Finished Goods
Sundry Creditors - The people whom you owe money when you purchase something from
them on credit in the normal course of the business are called Sundry Creditors.
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Well, there is no list. :) The reason is because it will contain the individual names as per your
business.
Sundry Debtors - When you sell to anyone on credit, they become your Sundry Debtors.
As this will also contain the individual names like Sundry Creditors above, there will be no list
here.
Suspense A/c - This account is used when you don’t know or don’t remember the name or
account which you have to use.
For example, you purchased a pencil from someone, but you forgot the name of the person,
then you can use the Suspense Account instead.
Then, when you recollect the name, you change the entry in Tally and the remove the Suspense
Account.
Unsecured Loans - These are the loans that you have taken without any kind of security and
hence they are called Unsecured Loans.
● Education Loan
● Personal Loan
● Overdraft - without deposit as a security
● Credit Card - without deposit as a security
This is it. This was the whole list of ledger accounts in Tally classified Under the particular
Groups in Tally.
I am sure you have learned a lot from this list and you will save this list for future reference while
doing accounting at your job or for your own business.
And, visit the original post from where you downloaded this list if you want to watch the
whole video (in Hindi) or want to comment and solve your doubts.
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