tally group & ledger list
Querist : Anonymous
Querist : Anonymous
Querist : Anonymous
I purchased raw material from out of India, I paid separate costume duty on the purchased material, what is entry should I pass in tally.
Querist : Anonymous
---
### Common **Groups** in Tally
**Assets:**
* Fixed Assets
* Current Assets
* Cash-in-Hand
* Bank Accounts
* Loans & Advances (Assets)
* Stock-in-Hand
**Liabilities:**
* Capital Account
* Reserves & Surplus
* Current Liabilities
* Provisions
* Secured Loans
* Unsecured Loans
**Income:**
* Sales Accounts
* Other Income
**Expenses:**
* Direct Expenses (e.g., Raw Material Purchase)
* Indirect Expenses (e.g., Rent, Salary, Electricity)
* Purchase Accounts
* Duties & Taxes
---
### Sample **Ledger Accounts** under each group
| Group | Ledger Name | Description |
| ------------------- | --------------------- | ---------------------------- |
| Capital Account | Capital | Owner’s capital contribution |
| Current Assets | Cash in Hand | Physical cash at office |
| Bank Accounts | State Bank | Bank account details |
| Stock-in-Hand | Raw Material | Materials for production |
| Loans & Advances | Advance to Supplier | Money given to suppliers |
| Current Liabilities | Sundry Creditors | Amount payable to suppliers |
| Purchase Accounts | Raw Material Purchase | Purchase of raw materials |
| Direct Expenses | Freight | Transportation charges |
| Indirect Expenses | Salary Expense | Employee salaries |
| Indirect Expenses | Electricity Expense | Electricity bills |
| Sales Accounts | Sales | Sales revenue |
| Duties & Taxes | Customs Duty | Import/customs duty paid |
| Duties & Taxes | GST Payable | GST liability |
---
### How to pass entry for **Customs Duty** paid on imported raw material?
If you purchased raw material from outside India and paid customs duty separately, you can do the following:
**Entry:**
| Debit | Credit | Description |
| ----------------------------- | --------------- | ------------------------ |
| Raw Material Purchase Account | To Supplier A/c | Purchase of raw material |
| Customs Duty Account | To Bank A/c | Customs duty paid |
This keeps your customs duty as a separate expense (or part of the cost of goods).
---
If you want, I can prepare an Excel sheet or detailed list for your starting year to import or create in Tally.
---
### About Executive, Manager, Officer
* **Executive**: Usually junior or mid-level employee responsible for routine work.
* **Officer**: Mid-level employee with specific responsibilities and decision-making.
* **Manager**: Senior employee who oversees teams, plans, and controls operations.
---
Let me know if you want me to help with more specific ledgers or Tally setups!
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