A lot of people do not have sufficient knowledge about Tally ledger or group and end up practicing bad accounting methods. A ledger is just a book which contains all the details of the debit and credit of a company.

Tally.ERP9 is the most comprehensive accounting software which deals with literally any business operation and has been used by companies all over the world. It has almost created a single universally acceptable format of maintaining accounts. Several features are continuously being added to Tally for empowering companies to better manage their accounts.

Tally Ledger & Group
Tally is just a form of accounting in a digital format and thus a book which contains all the details of debt and credit is considered to be the Tally Ledger. Bank OCC A/c, Bank OD A/c, and Branch / Divisions are the ledger accounts in Tally which together constitute the group as well.

For example, let’s say that you are checking your account and trying to figure out the total expenses and incomes of your business. You go through the indirect expenses. In this context, the indirect expenses will constitute the ledger in Tally.

However, if you want to look at the indirect expenses in detail like expense wise information then your indirect expenses will constitute a group in Tally.  In order to access the different types of groups in Tally you can go to accounts Info from Gateway of Tally. Next, you should select Groups and under single group or multiple groups click on Display. You will get the list of all the groups.

The list of ledgers required by a company whether just started or a decade old may include Direct Expenses, Direct Incomes, Duties & Taxes, Cash-in-Hand, Current Assets, Current Liabilities, Income (Direct), Income (Indirect), Indirect Expenses, Indirect Incomes, Investments, etc. Similarly, the groups may include fixed assets (building), current assets (accrued income), stock in hand (closing stock), etc.

 Tally.ERP9 Advantages

 You can systematically maintain your books of account which can be understood by any tax consultant or account expert throughout the world. It also helps you to secure your data with encryption and perform day to day business operations with ease.

Its simple user interface makes it very easy for your staff to make entries regularly and also gives you administrative rights for correcting the errors made by your staff. In short, Tally is a good accounting software which eliminates human errors!