Stock insurance group Name

What is group of stock insurance in tally

Replies (1)

Hi Vaibhavi,

In Tally ERP, when you talk about the "group of Stock Insurance", it generally refers to the grouping/classificationunder which you create the ledger for stock insurance expenses or insurance related to inventory.


What is Stock Insurance Group in Tally?

  • Stock Insurance usually falls under the group “Indirect Expenses” or “Expenses (Indirect)” because it’s a cost related to protecting your stock.

  • Sometimes, people create a sub-group under “Indirect Expenses” called “Insurance Expenses” or specifically “Stock Insurance” for clarity.

  • This helps in tracking the insurance premium paid specifically for stocks separately from other insurance types.


How to create Stock Insurance Ledger in Tally?

  1. Go to Gateway of Tally > Accounts Info > Ledgers > Create

  2. Enter the ledger name: e.g., Stock Insurance

  3. Under Group, select Indirect Expenses (or create a subgroup under Indirect Expenses called Insurance Expenses)

  4. Enter other details as required (e.g., maintain balances, GST details if applicable)

  5. Save


Sample Accounting Entry for Stock Insurance Premium:

Particulars Debit Credit
Stock Insurance Expense A/c ₹ XXX  
To Bank/Cash A/c   ₹ XXX
  • When you pay the insurance premium for stock, debit the Stock Insurance Expense ledger and credit Bank/Cash.

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