Ledger accounts and its groups in tally

TRADING A/C

Ledger Name	Tally Head

PUR.RETURNS	PURCHASE
PURCHASE	PURCHASE
CARRIEGE	DIRECT EXPENSES
FACTORY LIGHTING	DIRECT EXPENSES
FRIEGHT & CARTAGE	DIRECT EXPENSES
IMPORT DUTY	DIRECT EXPENSES
RENT (DR)	DIRECT EXPENSES
ROYALITY	DIRECT EXPENSES
WAGES	DIRECT EXPENSES
SALE RETURN	SALES
SALES	SALES

PROFIT & LOSS A/C
Ledger Name	Tally Head	Ledger Name	Tally Head

ADVERTISEMENT	INDIRECT EXPENSES	BAD DEBITOR RECOVERED	INDIRECT INCOME
BANK CHARGES	INDIRECT EXPENSES	COMMISSION RECEIVED	INDIRECT INCOME
BILL DRAWN	INDIRECT EXPENSES	DISCOUNT RECEIVED	INDIRECT INCOME
CARRIAGE	INDIRECT EXPENSES	INTREST ON DRAWING	INDIRECT INCOME
COMMISSION ALLOWED	INDIRECT EXPENSES	INTREST ON INVESTMENT	INDIRECT INCOME
DISCOUNT ALLOWED	INDIRECT EXPENSES	TELEPHONE CHARGE	INDIRECT EXPENSES
DONATION & CHARITY	INDIRECT EXPENSES	TRADE ACCOUNT	INDIRECT EXPENSES
FREE SAMPLE	INDIRECT EXPENSES	TRAVELLING EXPENSES	INDIRECT EXPENSES
INSURANCE PREMIUM	INDIRECT EXPENSES	SUSPENSE	SUSPENSE
INTEREST ON LOAN	INDIRECT EXPENSES	MISSCELLANEOUS EXP.	MISSCELLANEOUS EXP.
LEAGAL CHARGE	INDIRECT EXPENSES	DEPRICIATION	INDIRECT EXPENSES
LOSS BY FIRE	INDIRECT EXPENSES	PRINTING & STATIONERY	INDIRECT EXPENSES
OFFICE LIGHTING	INDIRECT EXPENSES	RENT (CR)	INDIRECT EXPENSES
PETTY CASHIER	INDIRECT EXPENSES	REPAIR CHARGE	INDIRECT EXPENSES
POSTAGE & COURIER	INDIRECT EXPENSES	SALARY	INDIRECT EXPENSES
		SALE TAX	INDIRECT EXPENSES
		SEPRECIATION	INDIRECT EXPENSES
		TAXI FIRE	INDIRECT EXPENSES

BALANCE SHEET

Ledger Name	Tally Head	Ledger Name	Tally Head

CAPITAL	CAPITAL	FURNITURE	FIXED ASSET
DRAWING	CAPITAL	GOODS	FIXED ASSET
INCOME TAX	CAPITAL	LAND & BUILDING	FIXED ASSET
LIFE INSURANCE	CAPITAL	LONG TERM INVESTMENT	FIXED ASSET
RESERVES & SURPLUS	RESERVES & SURPLUS	MACHINARY & PLANT	FIXED ASSET
ADVANCE	CURRENT LIBILITIES	BANK	CASH AT BANK
BANK OVERDRAFT	CURRENT LIBILITIES	CASH	CASH IN HAND
BILL PAYABLE	CURRENT LIBILITIES	STOCK	STOCK IN HAND
OUTSTANDING EXPENSES	CURRENT LIBILITIES	DEBITOR NAME	SUNDRY DEBITOR
SALARY PAYABLE	CURRENT LIBILITIES	BAD DEBITOR	SUNDRY DEBITOR
CREDITOR NAME	SUNDRY CREDITOR	BILL RECEIVABLE	CURRENT ASSETS
LOAN	LOAN LIABILITIES	GOOD WILL	FIXED ASSETS
BRANCH IN DIVISION	BRANCH IN DIVISION	NATIONAL PLANT	CURRENT ASSETS
ACCRUED EXPENSES	CURRENT LIBILITIES	PREPAID EXPENSES	CURRENT ASSETS
		SHORTTERM INVESTMENT	CURRENT ASSETS
		PREPAID RENT	MISC. EXP.- Asset
		LOSS ON THEFT	STOCK IN HAND
		ACCRUED INCOME	CURRENT ASSETS

Aryan Singhania

Dear Aryan,

I would like to suggest you that you should work on the new Schedule VI and give suggestion to the TALLY for updating and upgrading he software keeping in view the changed schedule as most of the CA's and their clients are using tally for maintenance of accounts.

I would also like to suggest that the tally data should produce the Balance Sheet in the new format so that the time of the practicisng CA can be reduced. Now, some one can come forward with the comments that then what the articles will do? There are several areas open for Articles provided they are interested. Recently I have come across many cases that a student is appearing in CA Final and he does not know what is TALLY why the companies are writing off the Preliminary expenses even they do not know what is the difference between Preliminary Expenses and share issue expenses. Any how this is a subject matter of debate and I do not want to go off the track. Kindly be in touch with the TALLY people and get the necessary changes done.