PROPER HEAD OF ACCOUNT

LEDGER ACCOUNT NAMES-COMES UNDER GROUP NAMES

SI. GROUP NAMES PARTICULARS

N
o
1. Bank accounts SBI account all others bank account available.
2. Bank o/d account Cash credit, Export Packing credit account,
Packing credit limit accounts.
3. Bank occ accounts Bill Discount account.
4. Bank / Division Just as a party a/c, Chennai branch, Madurai
division
5. Capital account Capital a/c-cr, Drawing-dr, Share(or equality)
a/c, Partner’s a/c, properties capital a/c.
6. Cash in Hand Cash, Cash in hand, Petty cash, Cash at branch.
7. Current Assets Prepaid (Rent, Interest, Insurance), Bills
Receivable, Outstanding income or Accrued
commission Received, Accrued Rent received,
Business Premises.
8. Current Liabilities Bills payables, Wages payables, Interest
Outstanding, Income received in Advanced, Rent
received in advance, and Interest received in
advance.
9. Deposits Fixed deposits, Securities Deposits, All other
company deposits.
10. Direct Expenses All Manufacturing expenses or Trading (Factory)
Expenses (Coal, Gas, Power, Water, Daily wages
salary).
11. Direct Income For all Non- Trade income a/c, Service charges,
Professional fees, Labor charges received.
12. Duties & Taxes TNGST 4 %, 8%, CST, Income tax, Excise duty.
13. Fixed Assets Land & Buildings, Plant & Machinery, Furniture
and Fittings, Computers, Type Writer, Good
Will’s, Trademark copy right, Loose tools, Marks.
14. Indirect Expenses [Administration or Office Expenses) Selling and
Distribution Exp. Advertisement, Salaries,
Commissions, Bad debts, Rent, Carriage out wards,
Management Exp, Rent, Rate and Taxes, Heating
and Lighting, Printing Charges, Stationary (Pencil,
Pen, Eraser),Postage & Telegram, etc.,]
Audit fee, Insurance, General Exp, Travelling &
Conveyance Exp, Establishment Exp, Bank Charges,
Commission Charges, Depreciation Charges,
Cleaning charges, Depreciation on Machinery and
Furniture Building.
15. Indirect Incomes For Non-Sales Incomes, Bank Interest, Interest
Received, Rent Received, Commission Received,
Incentive, Interestion Drawing, RBD (Reserve For
Bad Debts) Dividend Received, Rent From Tenants,
Apprenticeship Premium Interest On Deportments,
Income from any other sources, Miscellance
Revenue receipts.
16. Investments Share, Bond Govt security policy and other
company investment.
17. Loan & Employee’s loan, Advance against salary, any other
Advances(Assets) person loan.
18. Misc. Exp Mostly holds incorporation & Pre Operative Exp,
Building maintenance, Furniture maintenance.
19. Provisions Provisions for taxation, Provisions for bad &
doubtful debts.
20. Purchase A/c Purchase (dr), Purchase returns (cr) returns out
wards.
21. Reserves & surplus, General Reserve, Capital reserve, Investment
Retained earning allowance reserve, Share premium a/c.
22. Sales a/c Sales (cr), Sales return (dr), (return inwards).
23. Secured loans Debentures, Term loans.
24. Stock-in-hand Stock, Opening stock, Closing stock.
25. Sundry debtors Name of all debtors (or) Customers.
26. Sundry creditors Name of all creditors (or) Suppliers.
27. Suspense a/c Daily cash difference, Advance paid
28. Unsecured loans Loans for Directors by partners