Ledgers Under Group

 

Before making ledgers, we should

know very well which ledger will

come under which group.

We will understand the group

of some ledgers that occur

in business transactions.

Assets

Cash A/c: Cash In Hand (Current Assets)
Sundry Debtors:(Current Assets)
(The person or company to whom you provide goods or services)
Bank A/c: Bank Account (Current Assets)
Loan & Advance: (Current Assets)

Expenses 

Purchase A/c: >> Purchase Account (Expenses)
Salary A/c: >> (Indirect Expenses)
Employer PF Contribution: >> (indirect Expenses)
Internet & Telephone: >> (indirect Expenses)
Electricity: >> (indirect Expenses)
Postage & Courier: >> (indirect Expenses)
Stationary: >> (indirect Expenses)
Travelling & conveyance: >> (indirect Expenses)

1 Capital A/c : (capital Account)

2 Drawing A/c : (capital Account)

5 sundry Creditors: (The person

or company to whom you

Purchase goods & services)

: (Sundry Debtors''Current Liability'')

6 Sales A/c : (Sales Account "Income'')

9 Bank OD A/c : (Secured Loan "current Liabilities 

10 SGST > Duties & Taxes "current Liabilities)

11 CGST > Duties & Taxes "current Liabilities)

12 IGST > Duties & Taxes "current Liabilities)

13 UTGST > Duties & Taxes "current Liabilities)

14 TDS on rent > Current Liabilities