When you create a company in TallyPrime, it automatically comes with 28 predefined groups. These groups help you organize all your accounting data like ledgers, stock items, and transactions in a structured way. Understanding these groups is very important for beginners, accountants, and business owners using Tally for financial management. What is a Group in Tally? In TallyPrime, a Group is used to classify ledgers into categories. This helps you: Easily create reports like Balance Sheet, Profit & Loss A/c, etc. Maintain proper accounting structure. Apply correct GST or inventory settings. Types of Groups in Tally Tally groups are divided into two types: Primary Groups – Main heads like Assets, Liabilities, Income, and Expenses. Sub-Groups – Predefined sub-categories under each primary group. Out of the 28 predefined groups, 15 are primary and 13 are sub-groups. List of 28 Predefined Groups in TallyPrime Here is the complete list, grouped under their category with examples: 🔴 Capital & Liabilities Capital Account – Owner’s capital, reserve fund. Loans (Liability) – Secured/Unsecured loans taken. Current Liabilities – Outstanding expenses, dues, etc. Sundry Creditors – People/businesses you owe money to. Reserves & Surplus – Accumulated profits or reserves. 🟠 Assets Fixed Assets – Furniture, computer, building. Investments – FD, mutual funds, shares. Current Assets – Assets expected to be used within a year. Sundry Debtors – Customers who owe you money. Cash-in-Hand – Cash balance, like Petty Cash. Bank Accounts – SBI, HDFC, ICICI, etc. Bank OD A/c – Bank overdraft accounts. Deposits (Assets) – Security deposit, rent deposit. Loans & Advances (Assets) – Advance paid to staff, others. 🟢 Income Sales Account – All types of sales (cash/credit). Direct Incomes – Freight received, commission earned. Indirect Incomes – Interest received, discount earned. 🔵 Expenses Purchase Account – All types of purchases. Direct Expenses – Freight paid, wages (factory). Indirect Expenses – Salary, rent, stationery. ⚙️ Inventory Related Stock-in-Hand – Closing stock. Duties & Taxes – GST, VAT, TDS, etc. Provisions – Provision for tax, bad debts. Misc. Expenses (Assets) – Preliminary expenses. 🧾 Sales & Purchase Classification Branch/Divisions – For multiple locations. Suspense A/c – Temporary unclassified entries. Profit & Loss A/c – Auto-generated from income & expenses. Advance Income – Income received in advance. Method 1 for see the 28 predefined groups of tallyprime Step 1- Click on Alter Step 2- Click on Group after it here are 28 predefined groups in Tallyprime you can see Method 2 for see the 28 predefined groups of tallyprime Step 1- Click on Chart of Accounts Step 2- Click on groups Step 3- Here groups are Let’s explore each group with definition and 5 real-life examples for better understanding. 1. Bank Accounts Bank ledgers contain relevant information about banks used to make or receive payments. Examples: HDFC Bank A/c State Bank of India A/c Axis Bank A/c ICICI Bank A/c Canara Bank A/c 2. Bank OCC A/c (Open Cash Credit) Used by small or medium enterprises to manage working capital through overdraft against security. Examples: HDFC OCC A/c SBI OCC A/c Punjab National Bank OCC A/c Axis OCC A/c Bank of Baroda OCC A/c 3. Bank OD A/c (Overdraft Account) When a business is allowed to withdraw more than its bank balance. Examples: SBI OD A/c ICICI OD A/c HDFC OD A/c Axis Bank OD A/c PNB OD A/c 4. Branch / Divisions Used to record transactions of different business locations or departments. Examples: Mumbai Branch Delhi Office Online Division Retail Store – Surat South Zone Division 5. Capital Account Indicates the owner’s or partner’s investment in the business. Examples: Ankit Capital Partner A Capital Opening Capital Capital Contribution Owner’s Equity 6. Cash-in-Hand Cash available physically with the business. Examples: Cash Petty Cash Office Cash Sales Collection Cash Cash Counter A/c 7. Current Assets Assets that can be converted into cash within one year. Examples: Sundry Debtors Bills Receivable Short-Term Investments Advance to Staff Prepaid Rent 8. Current Liabilities Liabilities payable within one year. Examples: Sundry Creditors Outstanding Salary GST Payable Advance Received from Customers TDS Payable 9. Deposits (Asset) Fixed or security deposits made by the company. Examples: Security Deposit with Landlord Rent Deposit Telephone Deposit Electricity Deposit FD with ICICI Bank 10. Direct Expenses Expenses directly related to the production or trading activity. Examples: Wages Freight Inward Power & Fuel Carriage Inward Packing Charges 11. Direct Incomes Income from core business activities. Examples: Freight Income Commission Received Transportation Charges Income Service Income Consultation Fees 12. Duties & Taxes Contains all tax-related ledgers. Examples: CGST Payable SGST Payable IGST Payable TDS Payable VAT Payable 13. Expenses (Direct) Same as Direct Expenses – directly linked to production or purchase. Examples: Factory Rent Raw Material Cost Loading Charges Manufacturing Expenses Direct Labour 14. Fixed Assets Long-term assets used in business operations. Examples: Furniture & Fixtures Computers Office Equipment Building Vehicles 15. Income (Direct) (Repeats same as Direct Income) – Main source of revenue. Examples: Sales Income Export Service Income Project Charges Income Freight Service Income Product Design Income 16. Income (Indirect) Earnings not directly from core business. Examples: Interest Received Dividend Income Rent Received Discount Received Scrap Sales 17. Indirect Incomes Same as above, not related to main business. Examples: Sale of Old Furniture Sale of Waste Material Interest on Bank FD Cash Discount Received Profit on Asset Sale 18. Investments Investments made to earn income or for capital gain. Examples: Shares in Tata Steel Mutual Funds FD in SBI Investment in Gold Land Purchased for Investment 19. Loans & Advances (Asset) Loans given or advances for non-trading purposes. Examples: Advance to Staff Loan to Partner Advance for Machinery Purchase Advance Rent Paid Loan to Vendor 20. Loans (Liability) Loans taken by the business. Examples: Loan from SBI Vehicle Loan from HDFC Machinery Loan from Axis Bank Term Loan from ICICI Loan from Director 21. Provisions Expenses payable next year but belong to current year. Examples: Salary Payable (March) Bonus Payable Leave Encashment Payable Audit Fee Payable Provision for Tax
