Group Name Ledger Name

Purchase Accounts All types of Purchase Accounts like

Purchase Local 12 %

Purchase Interstate 12%

Purchase Local 0%

Purchase Interstate 0%

Purchase (Composition)

Purchase Exempt (Unregistered Dealer)

Purchase Local (Exempt Registered)

Purchase Taxable (Unregistered Dealer)

Purchase Nil Rated (Unregistered Dealer)

Purchase Reverse Charge

Purchase Import Taxable 12%

Purchase Import Exempt

 Purchase Import Nil Rated

Purchase (Own Branch)

Purchase Return

Sales Account All types of Sales Accounts like

Sales Local 12 % (Registered)

Sales Interstate 12%

Sales Local Nil Rated

Sales Interstate Nil Rated

Salers Export With Bond

Salers Export Taxable

Export (0%)

Sales Local (Exempt Registered)

Sale To Consumer (Taxable 12%)

Sale To Consumer (0%)

 Sale To Consumer (Exempt)

Sales (Own Branch)

Sale Return

All types of Taxes like

INPUT CGST SGST IGST CESS

OUTPUT GST SGST IGST CESS

Excise Duty Payable etc

Service Tax Payable

Duties and Taxes TDS Payables

Input Vat Accounts

Output Vat Accounts

Cenvat Accounts

Sale tax

Income Tax
 VAT Payable

Direct Expenses All expenses which appear in Trading Account (except

purchases) like

Labor

Power

Electricity Expense (Factory)

Loading Unloading Expense

Warehousing Expenses

Custom Clearing Charges

Carriage

Freight & Cartage

Import duty

Wages

Coal & Fuel

Coal, Gas & Water of Factory

 Consumed Material

Export Duty

Wages on Production

Delivery Charges(In Purchase Bill

Indirect Expenses All Indirect Expenses like

Rounded Off

Salary

Advertisement Expense

Maintenance Expense

Rent Expense

Director Remuneration Expense

Bad Debts

Printing Expense
Stationary Expense

Foreign Exchange fluctuation

Audit Fees

Professional Charges

Legal Expenses/Charges

Depreciation Expenses

Interest Expense

Penalty

Royalty

Bank charges

Commission allowed

Discount allowed

Donation & charity

Free sample
Insurance premium

Interest on loan

Legal charge

Loss by fire

Postage & courier

Repair charge

Taxi fare

Telephone charge

Travelling expenses

Outstanding expenses

Accrued expenses

Bad debt

Loss on theft

Depreciation
 Coffee Expenses

Coke Expenses

Manager’s Commission

UPTT

Fuel Expenses A/c

Liability of Expenses

Preliminary Expenses A/c

Professional Fees

All Indirect Income like

Indirect Income Discount Received

Interest on Investment

Only 2 Accounts Already Created like

Already Created in Tally Cash

Profit and Loss Account

 All Bank Current Account

Bank Account All Bank FD Account

(Personal Savings Account and FD not recorded)

All types of deposits like

Security Deposit

Deposit Account

Electricity Deposit

Rent Deposit

Capital A/c All types of Capital Account like

Share Capital

Partner Capital Account

Partner Current Account

Proprietor Account

Drawings

Life insurance
 Equity Capital A/c

Partners Capital A/c

Prepaid Maintenance Expense

Prepaid Expense

Prepaid Rent

Prepaid Insurance Charges

Current Assets

Interest Receivables

Bill receivable

Accrued income

Mutual Fund

CGST SGST IGST Credit

Bill drawn

Current Liabilities Bill Payable

CGST SGST IGST  Payable

 Any Party from Whom Goods Purchased

Sundry Creditor

Party from Whom any Bill of Expense Received

Any Party to whom we gave loan

like Loan Given to Friends Relatives/Related Companies

Loans and Advances
(Assets)
Any Party to whom we gave Advance

like Advance to Supplier

Any Party from whom we take loan.

We can also put group Secured loan or Unsecured loan

Debenture A/c

Loans Liabilities

Loans From Bank

Loans From Outside Party

Loans From Aravind(Friend)

Fixed Assets All Fixed Assets on which Depreciation charged like

Furniture
Machine

Plant and Machinery

Mobile

Computers

Furniture and Fittings

Car

Scooter

Laptops

Office lighting

Land & Building

Good will

Factory lighting

Air Conditioner

Accumulated depriciation
 Cash Credit Limit (CC)

Bank OCC

taken from bank

Overdraft Limit (OD)

Bank OD

taken from bank

Indian Bank A/c

Bank Accounts

SBI Bank A/c

Any Branch whose Separate Accounting Done

(If  branch account maintained by head office only, then this

account not required)
Branch/Divisions

Delhi Branch

Branch in division

 Imprest Account

Cash in Hand (Cash kept with Employee)

Petty Cash

Investments All types of Investments like

 Investment in Shares

Investment in Bonds

Investment in Property/Plot etc.

Long term investment

Short Term Investment

Stock

Closing Stock

Stock-in-hand

Consignment Stock

Opening Stock

Preliminary Expenses

Misc. Expense (ASSET)

NOT yet written off

Suspense A/c Suspense Account

Any payment or receipt from party whose name not known

 Suspense

Loans for whom Security Given

Secured Loan

like loan from bank/ Financial Institution

Loans taken  for whom no Security given

Unsecured Loan Like Short term loan from directors

or loan from friends /relatives

Any type of reserve like

General Reserve

Capital Reserve

Reserve & Surplus Capital Reserve A/c

Investment Allowance Reserve A/c

Share Premium A/c

Reverse and Surplus

Provisions All Provisions except Provisions for bad debts

 Provision for Tax

Provision for Expense

Provision for Sinking Fund

All types of Payables like Salary Payable, Audit fees Payable,

Any Party to Whom Sales Made

Sundry Debtors

Provision for Bad Debts

If you are wondering how you should categorize your expenses, here are
some examples:

Accommodation

Accommodation may include stays in hotels, bed and breakfast, guest houses
and rented accommodation.

Advertising and Promotion

The cost of promoting your business such as advertisements, websites,
networking club memberships, and directory listings.

Auto Expenses

‘Normal’ (such as maintenance, wear and tear) expenses on cars that are an
asset on the balance sheet are deductible.

Where expenses have been incurred that were unnecessary, for example,
having alloy wheels fitted for aesthetic reasons, then this is not claimable.
These ‘unnecessary’ expenses would be deemed as a benefit in kind for the
employee.

Bank/Finance Charges

Bank charges on company accounts are claimable.

Books and Journals

Trade magazines, periodicals and books relevant to the business are

allowable.

Business Entertaining

Expenses that are considered to be business entertainment

Provision of food and drink

Provision of accommodation
Theatre and concert tickets
Sporting events and facilities
Entrance to clubs and nightclubs
Cell Phone

If the invoice for the cell phone is in the name of the business then it is a
deductible expense, even where there has been a ‘reasonable' amount of
personal calls made.

Charitable Donations

A gift of money made by a business to a charity may be claimed as an

expense.

Computer Hardware
Cheap computer hardware, such as a keyboard or a mouse, can be claimed
as an expense, but a new desktop or laptop should be filed as a capital
expense.

Computer Software

Software is an allowable expense

Employee Benefits Insurance

Insurances that are for business purposes may be claimed. There are many
policies available.

Interest Payable

Interest Charges on Company Credit Cards and Bank Accounts is treated as

an expense to the company.

Internet & Telephone

If the invoice is made to the business, then often the whole expense is
deductible.

If a only a proportion of usage is attributable to business then a suitable

proportion of the expense may be allowable.

Leasing Payments
 Legal and Professional Fees

Legal costs incurred for solely business purposes.

Licenses and Permits

Meals

Subsistence expenses are those paid for lunches and evening meals. There
are often certain conditions that have to be met to make them allowable
expenses.

Miscellaneous

Miscellaneous is a category used to describe anything that won't fit easily into
another category. It should be be sparingly as it's preferable to categorise
expenses into one of the other recognised categories.

Office Costs
If the business rents an office then the costs, and associated costs incurred in
making the rental, may be claimed.

Office Equipment

Cheaper office equipment may be claimed as an example

Other Computer Costs

Repairs, maintenance, support contracts and upgrades can be treated as an

expense.

Pension/Retirement Plan

Company paid pension contributions for the benefit of an employee or

director.

Postage

Postage costs

Printing

Printing of letterheads, brochures, business cards and proposals can all be

accounted for as expenses.

Staff Entertaining

Including costs of Christmas parties or other staff events.

Staff Training

Training courses that are relevant to the business are allowable. If a person
who is in the business of IT consultancy has undertaken a course in plumbing,
then the expense is not allowable.

If that person did become a plumber and started a new business or changed
the current business’ trading category to that of a plumber, then the cost of the
plumbing course may be allowable as a set up expense.

Stationery

Includes general office supplies such paper for printing, pens, envelopes etc

Subscriptions
Fees paid to professional corporations relevant to the trade of the business
organisation.

Travel

Travel expenses may include:

Gas (in total where the company has a company car)

Public transport
Motorcycle mileage
Bicycle mileage
Air fares
Use Of Home

Where a worker uses part of their home for business, a proportion of the
house cost based on the space used for the business and the hours it is used
for business.

Web Hosting

Web Hosting expenses are allowable if they are for the exclusive use of a
business website

Cost of Sales
Commission Paid

Commission payable to a person or company who had assisted in the finding

of a contract for a company.

Cost of Sales

Any purchases made in order for a sale to have happened, such as an item
that is resold.

Materials

Materials purchased for the business

Subcontractor Costs

The costs of another parties contribution to the sale