Groups: are also called schedules
By default tally has created 28 types of groups
15 are primary groups
13 are sub primary groups
Mainly used to specify the behavior of the ledgers
To view all 28 Groups in tally
GWT > Chart of accounts > Groups > press enter
To Create Accounting Groups in tally
GWT ==> Chart of accounts ==> Groups==> Alt+H (Multi Masters) ==> Multi Create ==> Press enter key for All Items
Name of Group Under
Service Customer Sundry Debtors
Material Customer Sundry Debtors
Finance Customer Sundry Debtors
Retail Customer Sundry Debtors
Save it.
Assignments:
List out which are balance sheet accounting groups
List out which are profit and loss accounting groups