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    Sumeet Kemkar
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    This document lists various accounts and their classifications in a company's accounting system. It provides the names of common accounts like capital, creditors, debtors, expenses, income, bank, assets and liabilities and categorizes them under groups such as capital account, sundry creditors, current assets, fixed assets, current liabilities, and duties and taxes. This allows one to understand how different financial elements are organized in the accounting structure of a business.

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    This document lists various accounts and their classifications in a company's accounting system. It provides the names of common accounts like capital, creditors, debtors, expenses, income, bank, assets and liabilities and categorizes them under groups such as capital account, sundry creditors, current assets, fixed assets, current liabilities, and duties and taxes. This allows one to understand how different financial elements are organized in the accounting structure of a business.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    34 views1 page

    Tally Solution

    Uploaded by

    Sumeet Kemkar
    This document lists various accounts and their classifications in a company's accounting system. It provides the names of common accounts like capital, creditors, debtors, expenses, income, bank, assets and liabilities and categorizes them under groups such as capital account, sundry creditors, current assets, fixed assets, current liabilities, and duties and taxes. This allows one to understand how different financial elements are organized in the accounting structure of a business.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    of 1

    S.No.

    Name of Account Under head of Group

    1. Capital Account → Capital Account


    2. Name of your creditors → Sundry Creditors
    3. Name of your Debtors → Sundry Debtors
    4. Name of Expenses → Direct Expenses or Indirect Exp.
    5. according to the nature of expenses
    6. Name of Income → Indirect Income
    7. Name of Bank → Bank Account
    8. Name of Current Asset → Current Assets
    i) stock in hand
    ii) deposits
    iii) show short term investment
    9. Name of Fixed Asset → Fixed Asset
    10. Name of Current Liabilities → Current Liabilities
    11. Name of Fixed Liabilities → Fixed liabilities
    12. Name of Loss → Direct Expenses or Indirect Exp.
    13. Bad Debts → Indirect Exp.
    14. Provision for Bad Debts → Current Liabilities
    15. Outstanding Expenses → Current Liabilities
    16. Advance Income → Current Liabilities
    17. Outstanding Income → Current Assets
    18. Sale Tax / VAT → Duties and Taxes
    19. Excise Duty / CENVAT → Duties and Taxes
    20. Drawing → Capital
    21. Purchase → Purchase account
    22. Sale → Sale Account

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