Groups in Tally Prime - Part 2 (Assets)
Non-revenue groups are the accounts that appear in the Balance Sheet instead of the Profit & Loss Account. These groups mainly represent the financial position of a business, such as assets, liabilities, and capital.
In our last blog (Groups in Tally Prime), you learned about the liability side. In this section, we will focus on the Assets side of Non-Revenue Groups in Tally Prime.
Introduction to Groups in Tally Prime - Recap
In accounting software such as Tally Prime, the concept of Groups plays a very important role. A group is a place where ledgers of the same accounting nature are combined or classified together. Tally’s accounting system and most of its financial reports depend on how ledgers are grouped.
If a ledger is placed under the wrong group, it may cause errors in financial reports such as the Balance Sheet or Profit & Loss Account. Therefore, it is extremely important to understand the nature of a ledger and place it under the correct accounting group.
6. Fixed Assets
Assets that are used in business operations for a long period of time (usually more than one year) and are not intended for resale are called Fixed Assets.
In Tally, all these long-term resources are grouped under the Fixed Assets group to ensure they appear correctly on the Balance Sheet.
7. Current Assets
Assets that are expected to be converted into cash or consumed within one year are grouped under Current Assets.
(a) Deposits (Assets)
Deposits that will be returned after a certain period. Generally, no interest is involved.
(b) Loans & Advances (Assets)
Loans or advances given by the business to others.
(c) Sundry Debtors
Customers to whom goods have been sold on credit.
(d) Cash in Hand
Physical cash available with the business at various locations.
(e) Stock in Hand
Value of unsold goods or materials at the end of the period.
8. Investments
Investment accounts are grouped under Investments. This group helps show the total long-term and short-term investments made by the company outside the business.
Types of Investments
Funds parked in securities to earn interest or dividends.
9. Miscellaneous Expenses (Assets)
This group includes expenditures that are not fully charged to the Profit & Loss account in the year they are incurred.
Deferred Revenue Expenditure
Preliminary or pre-operative expenses are grouped here for gradual write-off.
💡 Understanding Pre-Operative Expenses
Business operations shuru hone se pehle jo bhi kharche kiye jaate hain, unhe Pre-Operative Expenses kaha jata hai. Kyuki us waqt business active nahi hota, isliye in kharchon ko turant Profit & Loss mein nahi dala jata.
Common Examples:
1. COCO Model
Company Owned, Company Operated
Is model mein outlet ki puri ownership aur management direct Company ke paas hoti hai. Sara kharcha (Rent, Staff, Stock) company uthati hai.
| Pros | High Quality Control aur Brand Image maintain rehti hai. |
|---|---|
| Cons | Capital Investment bahut zyada chahiye hoti hai. |
2. FOCO Model
Franchise Owned, Company Operated
Paisa (Investment) Franchise owner lagata hai, lekin store ko chalane ki zimmedari aur staff management Company ki hoti hai.
| Pros | Investor ko operational tension nahi hoti, passive income milti hai. |
|---|---|
| Cons | Profit sharing model hota hai, investor ka control kam hota hai. |
3. FOFO Model
Franchise Owned, Franchise Operated
Ismein Company sirf apna Brand Name aur Product deti hai. Rozana ka management aur operational kharcha Franchisee ka hota hai.
| Pros | Brand bahut tezi se expand ho sakta hai. |
|---|---|
| Cons | Agar franchisee dhyan na de toh service quality kharab ho sakti hai. |
At a Glance: COCO vs FOCO vs FOFO
A quick comparison of ownership, operations, and real-world examples.
Apple Stores, Starbucks (Direct), Reliance Fresh.
Pizza Hut (Modern outlets), Lenskart, Many Tea-Franchises.
McDonald's (Most units), Subway, Local Grocery Brands.
Non-Revenue Groups (Balance Sheet) in Tally
Complete Hierarchical Classification & Practical Ledgers
| Category | Group Name | Use / Nature | Practical Examples |
|---|---|---|---|
| LIABILITIES | Capital Account | Owner’s investment in business | Proprietor Capital Share Capital |
| ↳ Reserves & Surplus | Retained earnings for future use | General Reserve Retained Earnings | |
| Loans (Liabilities) | Interest-bearing external loans | Term Loan Bank Loan | |
| ↳ Bank OD / OCC | Bank Overdraft / Cash Credit facility | SBI OD A/c HDFC OCC A/c | |
| ↳ Secured Loans | Loans against collateral/assets | Vehicle Loan Mortgage Loan | |
| ↳ Unsecured Loans | Personal loans without collateral | Loan from Friends Director Loan | |
| Current Liabilities | Short-term payables (within 1 yr) | Outstanding Exp. Bills Payable | |
| ↳ Duties & Taxes | All statutory taxes to be paid | GST (CGST/SGST/IGST) TDS Payable | |
| ↳ Sundry Creditors | Suppliers from whom goods are on credit | ABC Traders A/c Raw Material Suppliers | |
| ↳ Provisions | Amount kept aside for known expenses | Prov. for Income Tax Prov. for Bad Debts | |
| Branch / Divisions | Ledgers for inter-branch transactions | Raipur Branch Bhilai Office A/c | |
| Suspense Account | Temporary group for unknown transactions | Unidentified Receipts Cash Discrepancy |
✅ Notes for Tally Users:
- Duties & Taxes: Is sub-group ka use sirf tax ledgers ke liye hi karna chahiye.
- Branch / Divisions: Jab aapki company ki multiple branches ho, tab iska upyog balance reconcile karne ke liye hota hai.
- Suspense A/c: Ye hamesha temporary hona chahiye; Balance Sheet finalise hone se pehle iska balance zero hona zaruri hai.
- Sundry Creditors: Isme hum Bill-by-Bill details maintain karte hain.
| Category | Group Name | Nature / Use | Practical Examples |
|---|---|---|---|
| ASSETS | Fixed Assets | Long-term business property | Furniture Computers |
| Investments | Assets held for interest/dividends | Fixed Deposits Shares | |
| Current Assets | Assets convertible to cash within 1 year | Prepaid Rent Accrued Income | |
| ↳ Stock-in-Hand | Closing value of inventory/goods | Raw Material Finished Goods | |
| ↳ Cash-in-Hand | Physical cash available in office | Main Cash A/c Petty Cash | |
| ↳ Bank Accounts | Money in Savings or Current accounts | SBI Current A/c PNB Bank A/c | |
| ↳ Sundry Debtors | Customers who owe money to business | Local Customers Trade Debtors | |
| ↳ Deposits (Asset) | Refundable security money given | Office Rent Deposit TNEB Deposit | |
| ↳ Loans & Advances (Asset) | Non-trade loans given by company | Staff Advance Salary Advance to Suppliers | |
| Misc. Expenses (Asset) | Unamortized costs (Deferred) | Preliminary Exp. Startup Costs |
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