Basic

Account Group

Group is a collection of ledgers of the same natures. Akaunt software automatically create 28 groups which are used in the chart of account. Out of 28 predefined groups, 15 groups are primary groups and 13 groups are Sub-groups. The different types of groups are

• Primary Groups:

  Primary Group is main group, Groups are structured as hierarchical organization. At the top of hierarchy are primary groups. Among 15 primary groups, 9 groups are balance sheets items and 6 groups are profit and loss a/c items.

  1. Branch/ Divisions
  2. Capital Accounts
  3. Sales Accounts
  4. Loans (Liabilities)
  5. Indirect Expenses
  6. Indirect Income
  7. Suspense Account
  8. Current Liabilities
  9. Misc. Expenses (Asset)
  10. Purchase Accounts
  11. Current Assets
  12. Direct Incomes
  13. Fixed Assets
  14. Direct Expenses
  15. Investments

• Sub Groups

  Sub groups are part of primary group, sub groups can be divided into 13 groups.

  1. Sundry Creditors
  2. Secured Loans
  3. Stock in Hand
  4. Provisions
  5. Cash in Hand
  6. Duties & Taxes
  7. Deposits (Assets)
  8. Bank OD Accounts
  9. Unsecured Loans
  10. Sundry Debtors
  11. Bank Accounts
  12. Reserves & Surplus
  13. Loan & Advances (Assets)