Chart of Accounts
Creating account groups and ledgers — the backbone of your books.
Groups and Ledgers
AccountManager follows the Tally model: Groups are structural buckets (e.g., Current Assets, Sales) and Ledgers are the actual posting accounts (e.g., HDFC Bank, Srikanta Hardware). Every ledger belongs to exactly one group.
Default System Groups
| Group | Nature | Affects Gross Profit |
|---|---|---|
| Fixed Assets | Asset | No |
| Current Assets | Asset | No |
| Sundry Debtors | Asset | No |
| Bank Accounts | Asset | No |
| Current Liabilities | Liability | No |
| Sundry Creditors | Liability | No |
| Sales | Income | Yes |
| Direct Income | Income | Yes |
| Indirect Income | Income | No |
| Purchase | Expense | Yes |
| Direct Expenses | Expense | Yes |
| Indirect Expenses | Expense | No |
Creating a Ledger
Go to Masters → Chart of Accounts. Click New Ledger. Set the Name, Group, and Opening Balance. For party ledgers (under Sundry Debtors/Creditors), you can also set GSTIN, state, credit limit and credit days.
For bank ledgers (under Bank Accounts), set Bank Name, Account Number and IFSC.