ACCOUNT GROUPS & LEDGERS

ACCOUNT GROUPS & LEDGERS

LEDGER ACCOUNTS: Ledger accounts represent the assorted, 

summarized and balanced transactions of similar nature. For example, the ledger account conveyance represent the set of transactions related to conveyance represents the set of transactions related to conveyance expenses and their summarized net figure. All accounting transactions are linked to Ledger Accounts.  

ACCOUNT GROUPS: Account groups are just a convenient method of organizing the large population of Ledger Accounts into a tree structured hierarchical view for better understanding and interpretation.

              In Tally, you may organize accounts ledgers & groups in hierarchical way. There is no limit on depth of nesting, number of group/subgroups and number of ledger accounts that can be placed under a group/subgroup.  

RESERVED ACCOUNT GROUPS: As soon as you create a company, 

Tally auto creates 28 predefined Account groups called reserved 

account groups. Having specific properties and behavior in the 

system (these groups cannot be deleted) to maintain consistency 

and integrity of the accounting system representing assets, 

liabilities, income & expenditure. Of these 28 Reserved account 

groups, 15 are top level primary groups (the rest 13 are subgroups 

of one of these 15 primary groups).