It is very important while creating ledgers where ledgers to be placed under which group, The following are the common ledgers under the specified groups
1 Sales accounts group Sale @ 4% vat, Sale @ 12.5 %, sale @ 1% etc
2 Purchase accounts group purchase @ 4% vat, sale @12.5%, Sale @ 1% etc
3 Duties & tax account group Input tax @ 4%, output tax @4%, Input/ouput tax @12.5%
4 Sundry debtors group All clients accounts like Abc industries, Industrial traders etc.
5 Sundry creditors group All supplier accounts like Xyz tools, Abc Enterprises Etc.
6 Expenses group Telephone, Petrol, Rent, transport Etc.
7 Bank accounts group SBI, ICICI Bank, Axis Bank, City bank Etc.
If you opted for Tally for accounts only than it is ok, If you opted for Tally Accounts & Inventry than you have create
1 Stock group
2 stock categories
3 Stock items
4 Unit of measure
and modify voucher type as per your requirements.
Jan 24, 2009
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