18 November 2009
its like your address book, where you can make groups/categories like "Friends", "Family", "Official" etc... In ledgers each transaction will be recorded and for the purpose of right presentation, you can put that ledger in the respective group.. Suppose you put some capital in your company then transaction will be recored in "Capital A/c", which is a Ledger and that ledger is under "Capital" Group, which is a primary group in Liability side of Balance Sheet. Likewise all ledgers will be delt with. Need any more clarifications .. scrap me again..
CAclubindia
