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    Tally Ledger Group

    Uploaded by

    Arpit Gaur
    This document categorizes common ledger accounts into groups for accounting purposes. It outlines that bank accounts, capital accounts, drawings accounts, purchase accounts, purchase return accounts, sales accounts, and sales return accounts are grouped under their respective names. Expenses related to purchase or production like wages and factory expenses are direct expenses, while expenses unrelated to purchase or production like office and selling expenses are indirect expenses. Indirect expenses also include losses, while indirect income includes commission, interest, and rent received. Accounts receivable and payable are categorized under sundry debtors and creditors. Current assets include bills receivable, prepaid expenses, and accrued income, while current liabilities include bills payable, outstanding expenses, and unaccr

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    Tally Ledger Group

    Uploaded by

    Arpit Gaur
    5 views1 page
    This document categorizes common ledger accounts into groups for accounting purposes. It outlines that bank accounts, capital accounts, drawings accounts, purchase accounts, purchase return accounts, sales accounts, and sales return accounts are grouped under their respective names. Expenses related to purchase or production like wages and factory expenses are direct expenses, while expenses unrelated to purchase or production like office and selling expenses are indirect expenses. Indirect expenses also include losses, while indirect income includes commission, interest, and rent received. Accounts receivable and payable are categorized under sundry debtors and creditors. Current assets include bills receivable, prepaid expenses, and accrued income, while current liabilities include bills payable, outstanding expenses, and unaccr

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    This document categorizes common ledger accounts into groups for accounting purposes. It outlines that bank accounts, capital accounts, drawings accounts, purchase accounts, purchase return accounts, sales accounts, and sales return accounts are grouped under their respective names. Expenses related to purchase or production like wages and factory expenses are direct expenses, while expenses unrelated to purchase or production like office and selling expenses are indirect expenses. Indirect expenses also include losses, while indirect income includes commission, interest, and rent received. Accounts receivable and payable are categorized under sundry debtors and creditors. Current assets include bills receivable, prepaid expenses, and accrued income, while current liabilities include bills payable, outstanding expenses, and unaccr

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    5 views1 page

    Tally Ledger Group

    Uploaded by

    Arpit Gaur
    This document categorizes common ledger accounts into groups for accounting purposes. It outlines that bank accounts, capital accounts, drawings accounts, purchase accounts, purchase return accounts, sales accounts, and sales return accounts are grouped under their respective names. Expenses related to purchase or production like wages and factory expenses are direct expenses, while expenses unrelated to purchase or production like office and selling expenses are indirect expenses. Indirect expenses also include losses, while indirect income includes commission, interest, and rent received. Accounts receivable and payable are categorized under sundry debtors and creditors. Current assets include bills receivable, prepaid expenses, and accrued income, while current liabilities include bills payable, outstanding expenses, and unaccr

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    Ledger Group

    Bank A/c Bank

    Capital A/c Capital

    Drawings A/c Capital

    Purchase A/c Purchase

    Purchase return A/c Purchase

    Sales A/c Sales

    Sales return A/c Sales

    Expenses which are related to purchase or


    production like wages, factory exp., packing exp., Direct expenses
    carriage inward, entry tax ,fuel, water & heating.

    Expenses which are not related to purchase or Indirect expenses


    production like office exp., selling exp., rent A/c.

    Loss by fire, loss by theft, lost in transit, lose on Indirect expenses


    sale of assets, Bed debts.

    Commission rec., interest rec., discount rec., Indirect income


    dividend rec., rent rec., etc.

    Profit on sale of assets, bed debts recovery etc. Indirect income

    Credit sold ( Goods, assets) party name A/c Sundry debtors

    Credit purchased( Goods, assets) party name A/c Sundry creditors

    Loan taken party name A/c. Loan liability

    Loan given party name A/c. Loan assets

    Sales tax. Duty & taxes

    Bills receivable A/c, prepaid expenses, Accured income. Current Assets

    Bills payable, outstanding exp., Unaccured income. Current liability

    Fixes deposites. Investment

    Furniture, Machinery, Car, Computer, Land, Building, Plant, Scooter. Fixed assets

    Telephone connection deposited, electric connection deposited. Deposited assets.

    NOTE:- Cash a/c, profit & loss a/c are already automatically created.

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