Tally Ledger & Group Classification

A comprehensive guide for accounting entries in Tally.

1. Income Ledgers

Ledger Name Group (Under) Definition / Purpose
Sales Account Sales Accounts Revenue generated from the primary sale of goods or services.
Interest Received Indirect Incomes Earnings from bank deposits, investments, or loans given to others.
Commission Received Indirect Incomes Income earned by providing agency services or brokerage.
Discount Received Indirect Incomes Profit gained when a supplier allows a reduction in the amount we owe.

2. Expense Ledgers

Ledger Name Group (Under) Definition / Purpose
Purchase Account Purchase Accounts Cost of goods bought specifically for resale in the business.
Wages / Labor Charges Direct Expenses Payments to workers involved directly in production or manufacturing.
Salary Account Indirect Expenses Monthly remuneration paid to office and administrative staff.
Rent & Taxes Indirect Expenses Cost of occupying office/factory space and local municipal taxes.
Carriage Inward Direct Expenses Freight or transport charges paid to bring raw materials into the business.
Electricity Bill (Office) Indirect Expenses Utility costs for running office equipment and lighting.

3. Asset Ledgers

Ledger Name Group (Under) Definition / Purpose
Plant & Machinery Fixed Assets Long-term physical assets used for manufacturing goods.
Computers / Software Fixed Assets Technology assets used for business operations and accounting.
Cash-in-Hand Cash-in-Hand Physical liquid cash available on the business premises.
Bank Account (SBI/ICICI) Bank Accounts Funds maintained in business current or savings accounts.
Sundry Debtors Sundry Debtors Customers who owe money to the business for credit sales.

4. Liability Ledgers

Ledger Name Group (Under) Definition / Purpose
Capital Account Capital Account The total investment made by the owner into the business.
Sundry Creditors Sundry Creditors Suppliers to whom the business owes money for credit purchases.
Bank Loan (Secured) Secured Loans Money borrowed from a bank against collateral/security.
CGST / SGST / IGST Duties & Taxes Tax liability to be paid to the government after set-off.

Name

Group

Capital A/c

Capital A/c

Drawings A/c

Capital A/c

Cash

Cash In Hand

Bank A/c

Bank A/c

Investment A/c

Investment A/c

Govt. Bond

Govt.Bond

Vehicle A/c

Fixed Assets

Land & Buildings

Fixed Assets

Furniture & Fixture

Fixed Assets

Plant & Machinery

Fixed Assets

Goodwill

Fixed Assets

Prepaid Exp.

Current Assets

Bills Receivable

Current Assets

Outstanding Exp.

Current Liability

Bills Payable

Current Liability

Loan In Advance

Current Liability

Income in advance

Current Liability

Mortgage Loan

Current Liability

Load

Loans & Liability

Opening Stock

Stock in Hand

Purchase A/c

Purchase A/c

Bank Overdraft A/c

Back OCC

Sundry Creditor

Sundry Creditor

Sundry Debtor

Sundry Debtor

Sales

Sales

Wages

Direct Exp.

Back Charges

Direct Exp.

Freight

Direct Exp.

Carriage inward

Direct Exp.

Royalty

Direct Exp.

Custom Duty

Direct Exp.

Advt.

Indirect Exp.

Electricity

Indirect Exp.

Bad Debtes

Indirect Exp.

Depreciation

Indirect Exp.

Director Fees

Indirect Exp.

Printing & Stationery

Indirect Exp.

Telephone Bill

Indirect Exp.

Traveling Bill

Indirect Exp.

Postage & Telegram

Indirect Exp.

Petrol Allowances

Indirect Exp.

Salary

Indirect Exp.

General Exp.

Indirect Exp.