Question

Explain ledger & group in Tally?

Answer 1

Tally provides pre-defined Groups in Tally.ERP 9, out of which 15 are Primary Groups and 13 are Sub-Groups. Groups are major heads of ledger, under which ledgers are classified. ... Discount allowed is a ledger and it is grouped under indirect expense which is a group.

Answer 2

Ledger:

1. A Ledger is a master accounts file that contains detailed information on expense, profit, and loss of every asset and liabilities of a company or an organization.
2. Ledgers have been classified under structured systems or sub systems which are known as groups.

Groups:

1. Groups are divided into primary groups and sub groups in Tally.
2. Some of the groups in which ledgers have been classified or divided are as follows: Capital account, current asset, current liabilities, etc.