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Charts of Accounts in TallyPrime

TallyPrime gives you great flexibility in setting up your chart of accounts. It allows you to group your ledger accounts right at the time of creating your accounts chart. Your reports and statements reflect the desired classification at all times.

List of accounts displays the existing chart of accounts, listed as groups, in alphabetical order.

View Charts of accounts in TallyPrime

  • Gateway of Tally > Chart of Accounts > select master type you want to see in Chart of Accounts.
    Alternatively, press Alt+G (Go To) > type or select Chart of Accounts > select master type you want to see in Chart of Accounts and press Enter.


    You can Drill down to a ledger name to alter its details by pressing enter.
  • At the highest level, accounts are classified into Capital or Revenue – and more specifically into Assets, Liabilities, Income and Expenditure. Alternatively use the keys Shift+Enter from the group head to reduce the details.
  • To record detailed transactions, you have to add further ledgers, groups and sub-groups of your choice.
    The ledgers in the Books of Accounts affect assets, liabilities, income or expenses. TallyPrime can generate a Profit & Loss account and a Balance Sheet immediately after a transaction has been entered. It can also generate a range of comprehensive financial statements and reports.

Ledger

The ledgers in the Books of Accounts affect assets, liabilities, income or expenses. TallyPrime can generate a Profit & Loss account and a Balance Sheet immediately after a transaction has been entered. It can also generate a range of comprehensive financial statements and reports.

Predefined Ledgers

All ledgers have to be classified into groups. These groups and ledgers are classified into profit and loss or balance sheet.

There are two pre-defined ledgers in TallyPrime:

  • Cash ledger
  • Profit and loss account

Cash Ledger

Profit and Loss Ledger

The cash ledger is grouped under cash-in-hand.

The profit and loss account ledger is grouped under primary.

You can enter the opening balance as on the day the books begin.

The previous year’s profit or loss is entered as opening balance of the ledger. The balance entered is the opening profit/loss. It is shown in the balance sheet as opening of the profit and loss account in the liabilities.

This ledger can be altered and deleted.

This ledger can not be deleted but it can be modified.

Display Unused Masters

Any unused masters in the list of accounts can be identified and removed in one go.

To list the list of unused masters

  • Gateway of Tally > Chart of Accounts > Ledger > and press Enter.
    Alternatively, press Alt+G (Go To) > type or select Chart of Accounts > Ledger and press Enter.
  • You can view the exceptions related to the data displayed in the current report by pressing Ctrl+J (Exception Reports), without closing the report.
  • To view the Show Unused, press Ctrl+J (Exception Reports) > type or select Show Unused > and press Enter. Press Esc to view the default report.
    The List of Ledgers (Unused) appears as shown below:

Unused groups, cost categories, cost centres, budgets and scenarios, currencies, units of measure, godowns, and so on can be filtered, similarly.

Create Ledger

Ledger can be created from different ways such as Master, Transactions and reporting as per the user choice.

In this section

  • Single Ledger Creation
  • Ledger Creation from Transaction or reporting
  • Current Liabilities and Current Assets Ledgers
  • Tax Ledger
  • Rounding Method
  • Expenses and Income Ledgers

Single Ledger Creation

  1. Gateway of Tally > Create > type or select Ledger and press Enter.
    Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger and press Enter.
  2. Enter the Name of the ledger account. Duplicate names are not allowed.
  3. Enter the alias of the ledger account, if required. You can access the ledgers using the original name or the alias name.
  4. Select a group category from the List of Groups.
    Note: To create a new group from this field, press Alt+C.
    You can alter a ledger account to change its group classification at any time. 
  5. Enter the Opening Balance. The opening balance is applicable when the ledger is an asset or a liability, and also if it has a balance in the account as on the date of beginning of books.
  6. Accept the screen. As always, you can press Ctrl+A to save.
    Note: For an existing company, debit balances for assets and credit balances for liabilities are applicable. You can enter balances for accounts that have obverse balances such as revenue accounts. For example, you may have transferred your books to TallyPrime in the middle of the year and may not have closed them in your earlier system. Hence, you must specify debit or credit for the balance.

Ledger Creation from Transaction or reporting

User can create ledger during Voucher entry from all the voucher types available in TallyPrime.

  1. From Voucher Creation/Alteration screen, press Alt+C. from ledger field.
  2. Ledger Creation will display and create the ledger and save the screen.

Current Liabilities and Current Assets Ledgers

Accounts like Outstanding Liabilities, Statutory Liabilities and other minor liabilities can be created directly under Current Liabilities and Assets can be classified as Current assets and Fixed assets. To create Fixed Assets ledger:

  1. Gateway of Tally > Create > type or select Ledger and press Enter.
    Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger and press Enter.
    The Ledger Creation screen appears as shown below:
  2. Name: In this field mention the Ledger name. For example, Furniture and Fixture
  3. Under: In this field select the group under which the ledger to be grouped. For example, Current Liabilities, Current Assets or Fixed Assets.
  4. Enable Inventory values are affected option if you maintain accounts with inventory. However, you can use this option for accounts like customs duty, direct expenses related to purchases such as freight inwards and so on.
    • In the Ledger Creation, press F12 (Configure) > set Use Inventory Allocations for Ledgers to Yes.
    • If you do not see this option:
      • Set Show more configurations to Yes.
      • Set Show all configurations to Yes.
  5. Accept the screen. As always, you can press Ctrl+A to save.

Tax Ledger

Tax Ledgers should be created under Duties and Taxes group which contains all tax accounts like GST, VAT, CENVAT, Excise, Sales and other trade taxes and total liability.

  1. Gateway of Tally > Create > type or select Ledger and press Enter.
    Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger and press Enter.
    The Ledger Creation screen appears as shown below:
  2. Name: In this field mention the Ledger name. For example, Central Tax
  3. Under: In this field select the group under which the Job Worker ledger to be grouped. For example, Duties & Taxes
  4. The option Type of Duty/Tax is based on statutory compliance of the company. For Indian statutory, by default, Others is displayed. Depending on features in F11 (Company Features Alteration), more options can be included in the Type of Duty/Tax.
  5. Enable Inventory values affected option if you maintain accounts with inventory. However, you can use this option for accounts like Customs Duty, direct expenses related to purchases such as Freight Inwards and so on.
  6. Select the Percentage of Calculation the rate of tax e.g. 5%, 10%, 12.5% etc. You can use an automatic discount calculation facility by specifying a negative percentage in this field. The Group Duties and Taxes is used for automatic tax calculation.
  7. On entering a percentage, a new field Method of Calculation is displayed. From the Method of Calculation, select appropriate options to calculate the Tax/Duty.
  8. Accept the screen. As always, you can press Ctrl+A to save.

Rounding Method

This is used to round off the duty value. By default rounding method is set blank. Once you select rounding method, rounding limit option is displayed.

For example:

For duty value 123.33 and rounding Limit is 1,

  • Downward rounding will show as 123.
  • Normal rounding will show as 123.
  • Upward rounding will show as 124.

For Duty value 125.55 and rounding Limit is 1,

  • Downward rounding will show as 125.
  • Normal rounding will show as 126.
  • Upward rounding will show as 126.

Expenses and Income Ledgers

You can select the income or expenses account group to create ledgers.

  1. Gateway of Tally > Create > type or select Ledger and press Enter.
    Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger and press Enter.
  2. Enter the name of the ledger in the Name field.
  3. Select Indirect Expenses from the List of Groups in the Under field.
    Note: Select Indirect Income from the List of Groups if you want to create an income ledger.
  4. Set the option Inventory values are affected? to Yes if your company maintains accounts with inventory. And want to allocate the ledger value to stock items.

You can also enable cost centre options in expenses or income ledger.

  1. Enable Cost centres are applicable to Yes, if the transactions have to be allocated to a particular cost centre
  2. In the Ledger Creation, press F12 (Configure) > set Apply Cost Centres for Ledgers to Yes.
    If you do not see this option, ensure that Enable Cost Centres is set to Yes in F11 for your company.
  3. Accept the screen. As always, you can press Ctrl+A to save.

Alter and Delete Ledgers

You can alter any information of the ledger master with the except for the closing balance under the group stock-in-hand.

Display/alter a ledger

  • Gateway of Tally > Alter > type or select Ledger and press Enter.
    Alternatively, press Alt+G (Go To) > Alter Master > type or select Ledger and press Enter.

Modification of account ledgers is possible for single ledgers as well as multiple ledgers. However for multiple ledgers, all the fields are not available for alteration.

Delete a ledger

  1. Gateway of Tally > Alter > type or select Ledger and press Enter.
    Alternatively, press Alt+G (Go To) > Alter Master > type or select Ledger and press Enter.
  2. Select the ledger from the List of Ledgers.
  3. Press Alt+D.
    Note: You can delete the ledger if no vouchers have been created under it. If you want to delete a ledger for which vouchers have been created, you have to first delete all the vouchers from that ledger and then delete the ledger account.

View Contact Details for Ledger Accounts

From the Ledger Vouchers report, it is possible to view the contact details of the ledger for reference. This is useful for bank ledgers. When more than one account number exists in the same bank, quick reference of the account details is possible.

  1. Gateway of Tally > Display More Reports > Accounts Books > Ledger and press Enter. > select the ledger for which you want to see the contact details
    Alternatively, press Alt+G (Go To) > type or select Ledger Vouchers and press Enter.
  2. Select the required Ledger from Select Item screen appears.
  3. Press Alt+S: Contact. The Ledger Contact Details screen appears as shown below:

    Mailing details and the account details are displayed in this screen.

Enter Mailing Details for Ledger Accounts

You can record address details against ledger accounts in TallyPrime.

  1. Gateway of Tally > Create > type or select Ledger and press Enter.
    Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger and press Enter.
  2. Enter the name of the ledger in the Name field.
  3. Select a group category from the List of Groups.
  4. Enter Required details in Mailing Details.
    In case you are unable to find Mailing Details in ledger creation screen.
    In the Ledger Creation, press F12 (Configure) > set Provide Mailing Details to Yes.
  5. Accept the screen. As always, you can press Ctrl+A to save.

Now you can enter the mailing details during ledger creation or alteration.

Ledger Vouchers Report

You can view a ledger account with the corresponding voucher details. You can view this report in browser.

  1. Gateway of Tally > Display More Reports > Accounts Books > Ledger and press Enter.
    Alternatively, press Alt+G (Go To) > type or select Ledger Vouchers and press Enter.
  2. Select the required Ledger.
  3. Press F2 to change the period as required. The Ledger Vouchers report appears as shown below:
  4. Press F8 (Columnar) to view details of vouchers in separate columns.
  5. For purchase, payments, journals, debit notes and credit notes, you can view the voucher reference number and date.

    The Ledger Vouchers columnar report appears as shown:

Cumulative balances or running balance for Ledger Voucher reports

  1. In the Ledger Vouchers screen., press F12: Configure > set the option Show Running Balance to Yes to see the running balances for Ledger Voucher report.

  2. Press Enter to save the changes. The Ledger Vouchers report with running balance column appears as shown below:

You can also access Ledger Vouchers by drilling down from different statements, such as Group Summary and Monthly Summary.

View, Print, Export Opening Balances of all the Ledgers

You can view the opening balances of all the ledgers in a single screen, and print or export the details.

In this section

View Opening Balances of all Ledgers in a Single Screen

  1. Gateway of Tally > Chart of Accounts > Ledger > and press Enter.
    Alternatively, press Alt+G (Go To) > type or select Chart of Accounts > Ledger > and press Enter.
  2. Press Alt+H (Multi-Masters) > select Multi Alter > and press Enter.
  3. Select All Items from the List of Groups.

Print Opening Balances of all Ledgers from a Single Screen

  1. Gateway of Tally > Display More Reports > Trial Balance.
    Alternatively, press Alt+G (Go To) > type or select Trial Balance > and press Enter.
  2. Press F5 (Ledger-wise) and press Crlt+P to print.
  3. Press C: Configure to set options for printing
  4. Enable the option Show Opening Balances by pressing Enter on it.
  5. Disable the options Show transactions and Show Closing Balances by pressing Enter on it
  6. Enable the option Show Accounts with Zero balance by pressing Enter on it.
  7. Press Ctrl+A to accept the configuration screen
  8. Press I:Preview to see the preview before print. Preview can be seen as shown below:


  9. Once confirm with preview press Print to print the report.

Export Opening Balance of all Ledgers from a Single Screen

  1. Gateway of Tally > Display More Reports > Trial Balance
    Alternatively, press Alt+G (Go To) > type or select Trial Balance > and press Enter.
  2. Press F5 (Ledger-wise) and press Alt+E.
  3. Press C: Configure to set Export Configuration.
  4. Enable the option Show Opening Balances by pressing Enter on it.
  5. Disable the options Show transactions and Show Closing Balances by pressing Enter on it
  6. Enable the option Show Accounts with Zero balance by pressing Enter on it.
  7. Select file format as Excel (Spreadsheet) and other details as required under Export Settings.
  8. Press Ctrl+A to accept the configuration screen
  9. Pres E: Send to export.

Using ODBC, you can extract Ledger Opening balances and other details of Ledger masters.

Groups

Groups are collection of ledgers of the same nature. Account groups are maintained to determine the hierarchy of Ledger Accounts, which is helpful in determining and presenting meaningful and compliant reports. Using this you can generate reports, which are meaningful as well as compliant with laws.

At the highest level, accounts are classified into Capital or Revenue – and more specifically into Assets, Liabilities, Income and Expenditure.

TallyPrime provides you with 28 pre-defined Groups. Of these 15 are Primary Groups and 13 are Sub-Groups. You can also create your own groups, either as Sub-groups or Primary groups. Groups can be sub-classified to an unlimited level to give a virtual accounting tree. The lowest level would be the Ledger Account. All Voucher entries are passed using ledgers. You can create the required chart of accounts. You can group the Ledger accounts under the required Groups at the time of creating the chart of accounts or you can alter them at any time.

Pre-Defined Groups

There are twenty eight pre-defined groups in Tally.ERP 9. These groups are a part of the chart of accounts for most organizations. For example, Sales Accounts is a pre-defined group. All sales ledgers can be classified under this group.

Out of the twenty eight pre-defined groups, fifteen are primary groups and thirteen are sub-groups. The user can create any number of primary groups and sub-groups.

Primary Groups

Subgroups

Branch / Divisions

Bank Accounts

Capital Account

Bank OD A/c

Current Assets

Cash-in-hand

Current Liabilities

Deposits (Asset)

Direct Expenses

Duties & Taxes

Direct Incomes

Loans & Advances (Asset)

Fixed Assets

Provisions

Indirect Expenses

Reserves & Surplus

Indirect Incomes

Secured Loans

Investments

Stock-in-hand

Loans (Liability)

Sundry Creditors

Misc. Expenses (ASSET)

Sundry Debtors

Purchase Accounts

Unsecured Loans

Sales Accounts

 

Suspense A/c

 

Out of the fifteen primary groups, nine primary groups appear in the balance sheets that are capital in nature and six primary groups appear under Profit & Loss account which are revenue in nature.

The sub-groups that form a part of the balance sheet are:

Pre-defined Subgroups

Under

Bank Accounts

Current Assets

Bank OD A/c

Loans (Liability)

Cash-in-hand

Current Assets

Deposits (Asset)

Current Assets

Duties & Taxes

Current Liabilities

Loans & Advances (Asset)

Current Assets

Provisions

Current Liabilities

Reserves & Surplus

Capital Account

Secured Loans

Loans (Liability)

Stock-in-hand

Current Assets

Sundry Creditors

Current Liabilities

Sundry Debtors

Current Assets

Unsecured Loans

Loans (Liability)

Note: Primary groups cannot be deleted.

Default Groups

There are a number of default Groups that can be used for various accounts.

The details information of Groups accounts are given below:

Capital Account

This records the Capital and Reserves of the company. The ledgers that belong to Capital Accounts are Share Capital, Partners’ Capital A/c, Proprietor’s Capital Account and so on.

Reserves and Surplus [Retained Earnings]

This contains ledgers like Capital Reserve, General Reserve, Reserve for Depreciation and so on.

Current Assets

Current Assets record the assets that do not belong either to Bank Accounts or to Cash-in-Hand sub-groups.

  • Bank Accounts: Current account, savings account, short term deposit accounts and so on.
  • Cash-in hand: TallyPrime automatically creates Cash A/c in this group. You can open more than one cash account, if necessary.

Note: An account under Cash-in-hand group or Bank Accounts/Bank OCC A/c group is printed as a separate Cash Book in the traditional Cash Book format and does not form part of the Ledger.

  • Deposits (Asset): Deposits contain Fixed Deposits, Security Deposits or any deposit made by the company (not received by the company, which is a liability).
  • Loans & Advances (Asset): This records all loans given by the company and advances of a non-trading nature (example: advance against salaries) or even for purchase of Fixed Assets. We do not recommend you to open Advances to Suppliers’ account under this Group. For further details, please refer to the section on Common Errors.
  • Stock-in-hand: This group contains accounts like Raw Materials, Work-in-Progress and Finished Goods. The balance control depends on whether you have selected Integrated Account-cum-Inventory option while creating the company. (refer to Company creation section for more details) Let us consider these options:
    • Integrated Accounts with Inventory: This option has a significant effect on the Balance Sheet and Profit & Loss Account. If set to Yes, it brings the stock/inventory balance figures from the inventory records and provides a drill down to the Stock registers from the Balance Sheet. You are not allowed to directly change the closing balance of an account under this group. You are allowed to pass transactions in Inventory records and the account balances are automatically reflected in the Balance Sheet as Closing Stock.
    • Non-integrated Accounts with Inventory: If Integrated Account with Inventory option is set to No, it ignores the inventory books figures and picks up manually entered closing stock balances from the ledger account created. This provides the facility to maintain accounts separately and inventory separately.
      You are not allowed to pass transactions if your accounts that come under this Group. It allows you to hold opening and closing balances only. Since no vouchers can be passed for these accounts, they are the only accounts for which the closing balances can be directly altered (by an authorised user only).
  • Sundry Debtors: For customer accounts refer to common and possible errors in grouping of accounts section.

Current Liabilities

Accounts like Outstanding Liabilities, Statutory Liabilities and other minor liabilities can be created directly under this group. Sub-groups under Current Liabilities are Duties and Taxes, Provisions and Sundry Creditors

  • Duties and Taxes: Duties and Taxes contain all tax accounts like GST, VAT, CENVAT, Excise, Sales and other trade taxes and the total liability (or asset in case of advances paid) and the break-up of individual items.
  • Provisions: Accounts like Provision for Taxation, Provision for Depreciation and so on are recorded under Provisions.
  • Sundry Creditors: For trade creditors, refer to common and possible errors in grouping of accounts section.

Investments

Group your investment accounts like Investment in Shares, Bonds, Govt. securities, long term Bank deposit accounts and so on. This allows you to view the total investments made by the company.

Loans (Liability)

Loans that a company has borrowed, typically long-terms loans.

  • Bank OD Accounts [Bank OCC Accounts]: TallyPrime provides you with distinct types of Bank Accounts,
  • Bank OCC A/c: To record the company’s overdraft accounts with banks. For example, Bill Discounted A/c’s and Hypothecation A/c’s etc.

Note: An account under Bank OCC A/c group is printed as a separate Cash Book in the traditional Cash Book format and does not form part of the Ledger.

  • Secured Loans: Term loans or other long/medium term loans, which are obtained against security of some asset. does not verify the existence of the security. Typical accounts are Debentures, Term Loans, and so on.
  • Unsecured Loans: Loans obtained without any security. Example: Loans from Directors/partners or outside parties.

Suspense Account

In modern accounting, many large corporations use a Suspense Ledger to track the money paid or recovered, the nature of which is not yet known. The most common example is money paid for Traveling Advance whose details will be known only upon submission of the Travelling Allowance bill. Some companies may prefer to open such accounts under Suspense Account.

  • Loans and Advances (Asset) group: The Suspense Account is a Balance Sheet item. Any expense account even if it has ‘suspense’ in its name, it should be opened under Revenue group like Indirect Expenses and not under Suspense Account group.

Miscellaneous Expenses (Asset)

This group is typically used for legal disclosure requirements such as Schedule VI of the Indian Companies Act. It should hold incorporation and pre-operative expenses. Companies would write off a permissible portion of the account every year. A balance remains to an extent that cannot be written off in Profit & Loss Account. TallyPrime does not show loss, carried forward in the Profit & Loss Account, under this group. The Profit & Loss Account balance is displayed separately in the Balance Sheet.

Branch/Divisions

This maintains ledger accounts of all your company’s branches, divisions, affiliates, sister concerns, subsidiaries and so on. TallyPrime permits Sales and Purchase transactions to take place with accounts opened here. Remember, these are their accounts in your books and not their books of accounts. Just treat them as any other party account. If you wish to maintain the books of a branch/division on your computer, you must open a separate company. (TallyPrime allows maintenance of multiple company accounts).

Sales Account

You can classify your sales accounts based on Tax slabs or type of sales. This also becomes a simple mechanism for preparation of Tax returns.

For example,

  • Domestic Sales
  • Export Sales

Now under Domestic Sales open the following ledgers:

  • Sales (10%)
  • Sales (5%)
  • Sales (exempt)

You can even open an account as Sales Returns under the group Domestic Sales to view your net sales after returns (or the returns may be directly passed through Journal against the specific Sales account).

Note: Do not create customer accounts under this group. For more details, refer to common and possible errors in grouping of accounts section.

Purchase Account

This is similar to sales accounts, except for the type of transactions.

Direct Income [Income Direct]

These are Non-trade income accounts that affect Gross Profit. All trade income accounts fall under Sales Accounts. You may also use this group for accounts like Servicing, Contract Charges that follow sales of equipment.

For a professional services company, you may not use Sales Account group at all. Instead, open accounts like Professional Fees under this group.

Indirect Income [Income Indirect]

These are miscellaneous non-sale income accounts. Example: Rent Received and Interest Received.

Direct Expenses [Expenses Direct]

These are Manufacturing or direct trading expense s. These accounts determine the Gross Profit of the company.

Indirect Expenses [Expenses Indirect]

All administrative, selling or non-direct expenses.

Profit & Loss Account is a reserved primary account in TallyPrime. You can use this account to pass adjustment entries through journal vouchers. For example, transfer of profit or loss account to Capital or Reserve account.

Common and Possible Errors in Grouping and Account Classification

Debtor/Creditor classification

Accounts of parties with whom your company is trading should be opened under any of the following groups (or sub-groups under them):

  • Sundry Debtors
  • Sundry Creditors
  • Branch/Divisions

Sales and Purchase account groups are meant for revenue accounts and are reflected in the Profit & Loss Account. If you open party accounts under these groups, it becomes difficult to pass sales or purchase voucher transactions.

For example, in a sales voucher transaction entry, you must debit an account, which can be sundry debtor, branch/division or even a sundry creditor. Moreover, other facilities like bill-wise allocation and tracking will not be available unless the accounts belong to one of these groups.

Opening two accounts of the same party

TallyPrime classifies debtors, creditors and branch/divisions for convenience. This helps you in the process of keeping the accounts of a particular group together during display and analysis. Thus you can pass both sales and purchase entries for a party account placed under Sundry Debtors. Use the classification depending on the most natural group for the party.

For example, parties from whom you buy frequently can be placed under Sundry Creditors, as that is the natural place to look for their account. TallyPrime does not restrict the accounts from having obverse balances. Thus, a Sundry Debtor can have a credit balance depending on the state of his account.

Therefore, you need not open two accounts for the same party – one under Sundry Debtors and another under Sundry Creditors. TallyPrime restricts opening of two identical ledger accounts. In such cases, you may decide to circumvent by marking one account as “A & Co – S/Dr” and another “A & Co – S/Cr”. This will allow you to have two accounts of the same party under two groups, but you will lose the advantage of analyzing net position at a single instance. It is always better to maintain a single account to obtain best benefits.

Expenditure items are entered under Liabilities group. For example, the expenditure item Rates & Taxes under the group Duties and Taxes.

The group Duties and Taxes is specifically meant to handle taxation liabilities of your company. Rates & Taxes and other statutory expenses should be placed under Indirect Expenses.

Simply adhering to the reserved groups may be sufficient for many organizations. For greater diversity, TallyPrime allows you to create your own groups, either as sub-groups or primary groups. Groups can be sub-classified to practically an unlimited level, giving you a virtual accounting tree. At the lowest level, of course, would be the ledger account.

Note: While it is necessary to assign every ledger to a group/sub-group, it is not essential to have your own sub-classification of accounts; you may simply use the reserved groups for grouping your ledger accounts.

Create, Alter, Delete Account Groups

You can create a single group or multiple groups in TallyPrime and configure the details as per your requirement. You can also view, alter or delete these groups.

In this section

Create account groups one-by-one

  1. Gateway of Tally > Create > type or select Group and press Enter.
    Alternatively, press Alt+G (Go To) > Create Master > type or select Group and press Enter.
  2. Enter the Name of the group.
  3. Enter the Alias name, if required.
  4. In the field Under, from the List of Groups displayed, select the parent group under which the group has to be classified. For example, Indirect Expenses.
    Note: Groups can be created under the group Primary, if required.
    The Group Creation screen appears as shown below:
  5. Accept the screen. As always, you can press Ctrl+A to save.

Note: A new group created under primary will not be reflected in reports until you pass masters/transactions for that group.

View account groups one-by-one

  1. Gateway of Tally > Chart of Accounts > Group > and press Enter.
    Alternatively, press Alt+G (Go To) > type or select Chart of Accounts > Group > and press Enter.
  2. Select the name of the group required from the List of Groups displayed.
    The Group Alteration (Secondary) screen appears as shown below:

Alter a Group

The details entered in a group can be modified when required.

  1. Gateway of Tally > Alter > type or select Group and press Enter.
    Alternatively, press Alt+G (Go To) > Alter Master > type or select Group and press Enter.
  2. Select the name of the group required from the List of Groups displayed.
  3. Make the necessary changes in the Group Alteration screen.
  4. Accept the screen. As always, you can press Ctrl+A to save.

Create Multiple Groups in one-go

You can create, edit or delete multiple groups in TallyPrime.

  1. Gateway of Tally > Chart of Accounts > Group > and press Enter.
    Alternatively, press Alt+G (Go To) > type or select Chart of Accounts > Group > and press Enter.
  2. Press Alt+H (Multi-Masters) > select Multi Create.
  3. Select the group category in the field Under Group.
  4. Enter the Name of Group. The screen appears as shown below:
  5. Select All Items in the field Under Group to create multiple groups of different categories.
    Note: You can add any number of sub-groups to an already created or selected group. The sub-groups inherits the characteristics of the parent groups.

A new group created under primary will not be reflected in reports until you pass masters/transactions for that group.

Alter Multiple Groups

  1. Gateway of Tally > Chart of Accounts > Group > and press Enter.
    Alternatively, press Alt+G (Go To) > type or select Chart of Accounts > Group > and press Enter.
  2. Press Alt+H (Multi-Masters) > select Multi Alter screen appears as shown below:
  3. Change the details as required and press Ctrl+A to save changes.

Delete a Group

Groups can be deleted from the alteration screen. You cannot delete groups from the Multiple group Alteration mode.

  1. Gateway of Tally > Alter > type or select Group and press Enter.
    Alternatively, press Alt+G (Go To) > Alter Master > type or select Group and press Enter.
  2. Select the group from the List of Groups.
  3. Press Alt+D.
  4. Click Yes to confirm deletion.

Note: A group cannot be deleted if:

The group has sub-groups.

The group has ledgers classified under it.

The group is a predefined master.

 

Manage Multiple Stock Items | Multi Create & Multi Alter Using Chart of Accounts

You can create a single stock item or multiple stock items, and configure the details as per your requirement. You can also view, alter or delete these stock items.

In this section

 

Create Multiple Stock Items | Multi Create

In TallyPrime, you can create or alter multiple stock items in one-go. You can also delete the stock items.

  1. Gateway of Tally > Chart of Accounts > Stock Items > and press Enter.
    Alternatively, press Alt+G (Go To) > type or select Chart of Accounts > Stock Items > and press Enter.
  2. Press Alt+H (Multi-Masters) > select Multi Create.
  3. Select the stock group in the field Under Group.
    When the feature to maintain stock item in batches is enabled in F11 (Features), the field Maintain in batches appears. If you are maintaining your stock items in batches, set this option to Yes. Set the manufacturing and expiry date options as needed.
    1. Select All Items – If you need to assign different stock groups for each stock item that you are creating.
    2. Select an existing stock group – If you are creating multiple stock items under an existing stock group.
    3. Select Create – If you need to create a new stock group under which you will be creating multiple stock items.

      Note: You can add any number of sub-groups to an already created or selected group. The sub-groups inherit the characteristics of the parent groups.
  4. Accept the Multi Stock Item Creation screen. As always, press Ctrl+A to save.

You can use these stock items in transactions.

 

Alter Multiple Stock Items | Multi Alter

You can alter multiple stock items from Chart of Accounts. However, you cannot change the unit of measurement defined for the stock items that are used in transactions.

  1. Gateway of Tally > Chart of Accounts > Stock Items > and press Enter.
    Alternatively, press Alt+G (Go To) > type or select Chart of Accounts > Stock Items > and press Enter.
  2. Press Alt+H (Multi-Masters) > select Multi Alter.
    • You can change the name of the item, stock group, opening quantity, and rate.
    • If you want to group all the stock items under a specific stock group, press Alt+H (Change Parent Group) > select the stock group in the Under Group field. The selected group will appear in the Under column for all the stock items.
    • To alter any specific information in one column by skipping the other columns, press F12 (Configure) and set the options as needed.
  3. Change the details as required and press Ctrl+A to save changes.

These changes will be automatically updated in all the transactions recorded using these stock items.

 

Delete Stock Items

You can delete stock items from Stock Item Alteration screen. If you want to delete the unused stock items that you do not trade with anymore, you can delete the same from the Chart of Accounts. A stock item cannot be deleted if it is used in a transaction. 

 

Delete Stock Items one-by-one

  1. Gateway of Tally > Alter > type or select Stock Item and press Enter.
    Alternatively, press Alt+G (Go To) > Alter Master > type or select Stock Item and press Enter.
  2. Select the required stock item > press Alt+D > select Yes to confirm deletion.

You cannot delete stock items from the Multiple Stock Item Alteration screen.

 

Delete Unused Stock Items in one-go

  1. Gateway of Tally > Chart of Accounts > type or select Stock Items > and press Enter.
    Alternatively, press Alt+G (Go To) > type or select List of Accounts > Stock Items.
  2. Press Ctrl+J (Exception Reports) > Show Unused > and press Enter. The unused stock items appear.
  3. Select the stock items to be deleted. To select multiple stock items, press Spacebar and select the required stock items.
  4. Press Alt+D > select Yes to confirm deletion.

The selected stock items will be deleted.

 

Manage Groups in Multiple Companies

You can manage groups in multiple companies by copying masters.

Copying masters in groups from multiple companies helps to:

  • Maintain the same group structure and ledgers for businesses with subsidiaries or branches.
  • Maintain uniformity of reports in all companies.
  • Consolidate accounts across branches.
  • Avoid re-creating masters in other companies.

In this section

Copy a Single Group

When copying a group from one company to another, the source company (from where the master has to be copied) and the destination company (to which the master has to be copied) have to be selected.

  1. Gateway of Tally > Press Alt+K (Company)> Select > Source Company.
  2. Gateway of Tally > Press Alt+K (Company)> Select > Destination Company.
  3. Gateway of Tally > Alter > type or select Group and press Enter.
    Alternatively, press Alt+G (Go To) > Alter Master > type or select Group and press Enter.
  4. Select a group from the List of Groups.
  5. Press F3 (Company) to switch over to the destination company.
  6. Accept the screen. As always, you can press Ctrl+A to save.

Note: If the parent of the group does not exist, you will not be able to accept the screen without selecting a parent in the destination company.

Copy Multiple Groups

  1. Gateway of Tally > Press Alt+K (Company)> Select > Source Company.
  2. Gateway of Tally > Press Alt+K (Company)> Select > Destination Company.
  3. Gateway of Tally > Alter > type or select Group and press Enter.
    Alternatively, press Alt+G (Go To) > type or select Chart of Accounts > Group > and press Enter.
  4. Press Alt+H (Multi-Masters) > select Multi Alter and Press Enter.
  5. Select a group or All Items from the list.
  6. Press F3 (Company) to switch over to the destination company.
  7. Accept the screen. As always, you can press Ctrl+A to save.

Note: Copying masters is possible only if the books of accounts are maintained on the same computer.

You can copy other masters like ledgers, cost categories and cost centres single or multiple in the same way.

Note: The alternative to transferring information between companies is to use the options exporting or importing data.

Configure Advanced Options for Groups

You can configure additional group information such as:

  • Sub-ledger creation of groups
  • Nett debit/credit balances for reporting
  • Used for Calculations
  • Method to allocate purchase invoice

In this section

Advanced configurations

  1. Gateway of Tally > Create > type or select Group and press Enter.
    Alternatively, press Alt+G (Go To) > Create Master > type or select Group and press Enter.
  2. Press F12:Configure.
  3. Set Show more configurations to Yes, to see all configurations of group.

    The group creation screen with advanced options is displayed as shown below:

In the Group Creation screen

  1. Enter a name for the group.
  2. Enter a group category. If a group is created under Primary you must select from asset, expenses, income or liability.
  3. Select the Nature of Group.
  4. Select Yes for the option Group behaves like sub-ledger to allow groups to act as a sub ledger.
    • When the option Group behaves like sub-ledger is set to Yes, the ledgers grouped under the same is not displayed in detailed mode, as shown below:
    • When the option Group behaves like sub-ledger is set to No, all the ledgers that are grouped is displayed in detailed mode, as shown below:
  5. Set Nett Debit/Credit Balances for Reporting to Yes to display net debit or credit balance in the report (whichever is higher).
  6. Set Used for Calculation (e.g. taxes, discounts) to Yes if ledgers under this group have percentages for discounts or taxes to be used in invoice entry. This is displayed while passing voucher in invoice mode and for automatic calculations.
  7. Select Method to Allocate when used in Purchase Invoice from the List of Allocation Methods to allocate the expense of the item in the ratio of the quantity or value.
  8. Set Set/Alter GST Details to Yes to provide GST details at group level.
  9. Set Position Index in Report to decide where this group will be displayed in report.
  10. Accept the screen. As always, you can press Ctrl+A to save.

Group Behaves as a Sub-Ledger

When the option Group behaves like Sub-Ledger is set to Yes for a certain group, the group behaves like a controlling account for the ledgers under it. This also means that only the net balance and not individual ledger balances will be displayed in the reports.

Note: This is useful for groups such as Sundry Debtors and Sundry Creditors (which are pre-set to Yes), which can have a large number of ledgers under them, and can be exploded during display to show ledger balances.

In this section

Set the group to act as a sub-ledger

  1. Gateway of Tally > Alter > type or select Group and press Enter.
    Alternatively, press Alt+G (Go To) > Alter Master > type or select Group and press Enter.
  2. Set the option Group behaves like a Sub-Ledger to Yes, as shown below:
  3. Accept the screen. As always, you can press Ctrl+A to save.

View the group in the Reports

  1. Gateway of Tally > Display More Reports > Trial Balance.
    Alternatively, press Alt+G (Go To) > type or select Trial Balance > and press Enter.
  2. Press F12 (Configure) > set Expand all levels in detailed format to Yes in the Configuration screen, as shown below:
  3. Accept the screen. As always, you can press Ctrl+A to save.
    After configuration, the Trial Balance appears as shown below:

Similarly, setting Group behave like sub-ledger to No will show all ledger under that group in the report.  

Displaying Group Summary

The group summary statement shows the closing balances of the accounts of a selected group for a specified period up to the current date. The default view is that of sub-groups within a group.

  1. Gateway of Tally > Display More Reports > Accounts Books > Group Summary and press Enter.
    Alternatively, press Alt+G (Go To) > type or select Group Summary and press Enter.
  2. Select group Indirect Expenses, and press Enter.
    The Group Summary screen is displayed as shown:

Displaying Group Vouchers

Group Vouchers is a list of all vouchers having at least one ledger account entry belonging to the selected group. This statement is useful when you want to list all transactions for a particular group.

  1. Gateway of Tally > Display More Reports > Accounts Books > Group Vouchers and press Enter.
    Alternatively, press Alt+G (Go To) > type or select Group Vouchers and press Enter.
  2. Select Group Name e.g. Current Assets and Press Enter.
  3. Press F2 (Period) to change the period, if required. The following screen is displayed as shown:

Including post-dated transactions

Press Alt+F8 (Include Post-dated) to include the values of post-dated transactions in the report. The voucher number of these transactions will have the prefix (Post-Dated), and the period of the report will automatically include the date of the post-dated transaction.


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