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Group and ledger

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(Querist)
20 September 2012 What is a difference between a group and a ledger..in tally...
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
20 September 2012 Group means classification of the account and ledger means name of the individual account. For example Assume a car is capital asset to the buyer so it is fixed asset so Fixed assets is group of assets and car is ledger account. It means car treating as fixed assets. While for the dealer of car, car is stock - in - trade so he treat it as stock item and consider under stock.

OM SAI SRI SAI JAI JAI SAI
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