Accounting-Ledger and Group in Tally.ERP.9

What is Tally Ledger

 

In simple words, a ledger is a book which contains all the entries i.e. debit and credit entries for that particular ledger.Let me give you an example.
A Bank Account Ledger will have all the entries relating to debit and credit in your bank account.

Similarly, a ledger of Direct Expenses will contain all the entries relating direct expenses in your business.
A Tally Ledger is no different. Remember Tally is accounting but in digital format.
A ledger in Tally.ERP 9 can be explained as a simple account in a normal language. An account is called a ledger in accounting language.
For example, a Tally Ledger for GST is normally called GST Account in Tally or outside Tally when we are having a normal conversation.
In the same way, a Sales Ledger in Tally is called a Sales Account in normal language. A ledger in Tally for Direct Expenses is simply called Direct Expenses Account.

You are getting what I am trying to say here, right?
Ledger is a technical term mostly used in accounting which we call an account in normal language.

Have a look at your bank passbook or anyone’s bank passbook in your family. You will see credit and debit entries in there (hopefully more credits than debits).

 

That is exactly how a ledger in Tally or anywhere else looks like.

For you, it’s your bank account and for the bank it is a customer’s bank account and hence a customer’s ledger.

Now, you know what is a Tally Ledger as well as what is ledger in simple terms.

Let’s move on to the whole of the Tally Ledger List in Tally.ERP 9.

Ledger List in Tally.ERP 9 + PDF

In Tally.ERP 9, there is a list of pre-created ledger in Tally for your and my ease.

 

Here it is alphabetically sorted. Click on the letter to open the list.

List of Ledger Accounts in Tally Alphabet wise

 

List of Ledger Accounts in Tally Alphabet wise

Bank OCC A/c
Bank OD A/c
Branch / Divisions

Cash-in-Hand
Current Assets
Current Liabilities

Direct Expenses
Direct Incomes
Duties & Taxes

Expenses (Direct)
Expenses (Indirect)

Fixed Assets

Income (Direct)
Income (Indirect)
Indirect Expenses
Indirect Incomes
Investments

Loans & Advances (Assets)
Loans (Liability)

Misc. Expenses (ASSET)

Provisions
Purchase Accounts

Reserves & Surplus
Retained Earnings

Secured Loans
Stock-in-Hand
Sundry Creditors
Sundry Debtors
Suspense A/c

Unsecured Loans

One important thing to note here is that these are also the Groups in Tally. Both the pre-created ledgers in Tally and the Groups in Tally are exactly the same.
There is a valid reason for that.
Indirect Expenses can also be called a Group in Tally as well as a Ledger in Tally.
Say, for example, you everyday incur Delivery Expenses and Packing Expenses in your business which is an indirect expense for your business.
In this case, Delivery Expenses as well as Packing Expenses will be your ledgers and they will be classified under the Group in Tally which is Indirect Expenses.
You can try this right now in your Tally by creating both of the ledgers above.
Now, let’s take this scenario in another context.
You are looking at your accounts to have a note of total expenses and incomes in your business. You look at Indirect Expenses.
In this scenario, Indirect Expenses will be called as a ledger or an accounting head in Tally and not the group.
But if you want to know what are the indirect expenses in detail i.e. Expense wise detailing, then Indirect Expenses will called as a group and Delivery Expenses and Packing Expenses will be called as ledgers in Tally or anywhere else.
I know this is somewhat confusing but this is the simplest way I’ve tried to explain you.
Still, if you have any questions or doubts, you can comment down below and I’ll be happy to solve your doubts.
Therefore, ledgers in Tally can also be called as Accounting Heads in Tally so you can consider the following list as either:

• List of Ledger Accounts in Tally, or
• List of Accounting Heads in Tally

Also, this is the same list which you see when you are viewing list of ledger accounts in Tally under group in Tally.ERP 9.

List of Groups in Tally.ERP 9

You can see the list of Tally Groups in Tally.ERP 9 right now. Here is how if you have already downloaded and installed Tally.

• From Gateway of Tally, go to Accounts Info.
• Then, select Groups.
• Now, either under Single Group or Multiple Groups, select Display.
• And, boom! 

What you are currently seeing is entire list of accounting groups in Tally.ERP 9.

 

It is the same list as we saw earlier while discussing ledger list in Tally above in this post. I’ve already explained why they are same.
But for more simplicity, let me throw some more light on this which you’ll find nowhere else.
Direct Expenses in Tally is an Accounting Group in Tally. But it is also called a ledger in normal accounting language.
Suppose there are 2 types of direct expenses in your business. They are Cutting Expenses and Stitching Expenses.
Both Cutting Expenses and Stitching Expenses are ledgers in Tally. Now, according to Tally, Direct Expenses is a group but in normal accounting language it is a ledger also.
The difference is that Direct Expenses is a collective ledger holding one or more ledgers under itself, and although they are ledgers in tally, they behave like sub-ledgers.
That’s why, Direct Expenses is called a group in Tally because it holds various ledgers under it and they are grouped under it.
But in practical life, Direct Expenses is a collective ledger which has different ledgers for individual direct expenses for better classifying the expenses and for more clarity.

List of Ledger Accounts in Tally & 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.

List of Bank Accounts in Tally

• State Bank of India
• HDFC Bank
• Bank of Baroda and so on.

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.
This is kind of a short term loan for your business.

List of Bank OCC A/c in Tally

• OCC A/c from State Bank of India
• OCC A/c from HDFC Bank
• OCC A/c from Bank of Baroda

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.
For example, SBI has main office in Mumbai, Maharashtra while branches all over India, there will be one probably in your area too.

List of Branch / Divisions in Tally

Main Headquarters in Mumbai, Maharashtra

• 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.

List of Capital Accounts in Tally

• Rishit Shah’s Capital Account
• TallySchool’s Capital Account
• Drawing or Withdrawal Account
• House Rent
• Income Tax
• LIC Premium – Debit
• LIC Refund – Credit
• Mediclaim Insurance Premium – Debit
• Mediclaim Insurance Premium – Credit
• Personal Expenses

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.

List of Cash-in-Hand Accounts in Tally

• 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.
It also includes the ledger in Tally for Cash.

List of Current Assets in Tally

• 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.

List of Current Liabilities in Tally

• Sundry Creditors or Accounts Payables
• Income Tax Payable
• GST Payable
• VAT Payable
• 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.

List of Deposits (Assets) in Tally

• 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.

List of Direct Expenses in Tally

• 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
• 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.


 These incomes form part of Trading Account only.

List of Direct Incomes in Tally

• Sales Accounts
• Discount received on Purchases
• Cash Discount received on Purchases

Duties & Taxes – This group in Tally includes all the ledgers related to taxation.

List of Duties & Taxes in Tally

• Input CGST
• Input SGST
• Input IGST
• Input GST Cess
• Output CGST
• Output SGST
• Output IGST
• Output GST Cess
• Input VAT
• Output VAT
• Input Excise Duty
• Output Excise Duty
• Customs Duty
• Income Tax Payable
• Income Tax Refundable
• Professional Tax Payable
• Professional Tax Refundable

Expenses (Direct)
Exactly same as Direct Expenses which you just read above in this post.
Expenses (Indirect)
Exactly same as Direct Expenses which is later in this post.
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.

List of Fixed Assets in Tally

List of Tangible Fixed Assets in Tally

• Buildings
• Factories
• Offices
• Furniture
• Computers
• Mobiles used for business
• Equipments
• Machinery
• Vehicles used for business

List of Intangible Fixed Assets in Tally

• Copyrights
• Trademarks
• Software
• Patents
• Computer Programme
• Goodwill
• Licenses
• Brand Names
• 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.

List of Indirect Expenses in Tally

• 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
• 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.

List of Indirect Incomes in Tally

• 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.

List of Investments in Tally

• Shares
• 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.

List of Loans & Advances (Assets) in Tally

• Loan given to an Employee
• Loan given to a Partner
• Loan given to a Director
• Income Tax Refund Not Received
• GST Refund Not Received
• Customs Refund Not Received
• Excise Refund Not Received
• VAT Refund Not Received

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.

List of Loans (Liability) in Tally

• Loans taken from Banks
• Loans taken from Financial Institutions such as NBFC (Non-Banking Financial Companies)
• Loan taken from Government
• Loan taken from Director
• Loan taken from Partner
• Loan taken from an Employee

Misc. Expenses (ASSET) – This group of ledger is generally not used. This is only used when small expenses are clubbed together into one ledger.
Now, how an expense is an asset?
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.
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.

List of Provisions in Tally

• Provision for Bad and Doubtful Debts
• Provision for Discount on Debtors
• Provision for Discount to Creditors
• Provision for Depreciation
• Provision for Inventory Obsolescence
• Provision for Payment of Retirement Benefits such as Pension, EPF etc.
• Provision for Reorganization Costs
• Provision for Severance Payments i.e. payment when an employee is terminated

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.

List of Purchase Accounts in Tally

• Purchase of Raw Materials
• Purchase of Services
• Purchase of Finished Goods
• Purchase Returns

GST Purchase Ledgers according to different rates:

• Purchase @ 0%
• Purchase @ 5%
• Purchase @ 12%
• Purchase @ 18%
• Purchase @ 28%

GST Purchase Ledgers according to area or geography:

• Branch Transfer Inward
• Imports Exempt
• Imports Nil Rated
• Imports Taxable
• Interstate Purchase Exempt
• Interstate Purchase from Unregistered Dealer – Services
• Interstate Purchase Nil Rated
• Interstate Purchase Taxable
• Purchase Deemed Exports – Exempt
• Purchase Deemed Exports – Nil Rated
• Purchase Deemed Exports – Taxable
• Purchase Exempt
• Purchase from Composition Dealer
• Purchase from SEZ (Special Economic Zone) – Exempt
• Purchase from SEZ – LUT/Bond
• Purchase from SEZ – Nil Rated
• Purchase from SEZ – Taxable
• Purchase from SEZ (Without Bill of Entry) – Exempt
• Purchase from SEZ (Without Bill of Entry) – Nil Rated
• Purchase from SEZ (Without Bill of Entry) – Taxable
• Purchase from Unregistered Dealer – Exempt
• Purchase from Unregistered Dealer – Nil Rated
• Purchase from Unregistered Dealer – Taxable
• Purchase Nil Rated
• Purchase Taxable

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.

List of Reserves & Surplus in Tally

I have created two separate lists. One for Reserves and one for Surplus.

List of Reserves in Tally

• Capital Reserve
• Bad Debt Reserve
• Capital Redemption Reserve
• Dividend Redemption Reserve
• Preference Redemption Reserve
• Debenture Redemption Reserve
• Bond Redemption Reserve

List of Surpluses in Tally

• 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.

List of Retained Earnings in Tally

• Retained Profit of any kind.

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.

List of Sales Accounts in Tally

GST Sales Ledgers according to different rates:

• Sales @ 0%
• Sales @ 5%
• Sales @ 12%
• Sales @ 18%
• Sales @ 28%

GST Sales Ledgers according to area or geography:

• Branch Transfer Outward
• Deemed Exports Exempt
• Deemed Exports Nil Rated
• Deemed Exports Taxable
• Exports Exempt
• Exports LUT/Bond
• Exports Nil Rated
• Exports Taxable
• Interstate Sales Exempt
• Interstate Sales Nil Rated
• Interstate Sales Taxable
• Sales Exempt
• Sales Nil Rated
• Sales Taxable
• Sales to Consumer – Exempt
• Sales to Consumer Nil Rated
• Sales to Consumer – Taxable
• Sales to SEZ – Exempt
• Sales to SEZ – LUT/Bond
• Sales to SEZ – Nil Rated
• Sales to SEZ – 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.

List of Secured Loans in Tally

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.

List of Stock-in-Hand in Tally

• 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.

List of Sundry Creditors in Tally

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.

List of Sundry Debtors in Tally

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.

List of Suspense A/c in Tally

This list is suspense. Just kidding.
The list here will contain all the entries, the accounts of which you don’t remember correctly.
Unsecured Loans – These are the loans that you have taken without any kind of security and hence they are called Unsecured Loans.

List of Unsecured Loans in Tally

• 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.