Account GroupsAccount Groups provide you the ability to organize you Accounts. You can classify all ledger based on their functions. When you create a ledger, you have to put it in an appropriate Group depending on its nature of function. This classification is known as Grouping of Ledgers which determines whether the ledger goes into the Profit and Loss account o into the Balance Sheet. Grouping of ledger determines the type and amount of Information you can get.
Tally 9 provides a set of pre-defined Groups. You can use these Groups readily for classification of ledgers, without creating new Groups or you can create Groups under and of these Groups and place ledger under these Group or create new primary Group. You create multi-level Group one under another to any level.
Create New Group
Select Create under Single Group menu Groups menu, a screen appears to create a new Group with following fields as in picture.
Name: Type the name of the Group. You can not give duplicate name.
Alias: Give additional name(s) for the Group.When you select Group you can refer to it either by Name or by Alias. Alias is optional but Name is compulsory.
Under: When you reach this field a pop-up window will open and show all the existing Group heads. Select the parent group under which the Group being created should be placed. You may select any from the existing Group by pressing ALT+C which will bring Group Creation screen to create parent group of the group you are currently creating.
Creation of Primary Group
You can create a Primary Group if Allow Advanced Entries in Masters is set to Yes. While creating New Group, select Primary at Under, then select the nature of Group from the following 4 items
For example, you may create Groups like Depreciation, Interest on Loan, Selling Expenses etc. in primary Group. The advantage of Primary Group is that you can configure the Group nearer to your requirements than the default Reserved Groups provided by Tally 9.