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Asked by Benjamin Last Modified
Answer 
Prakash Kandpal
Cyber Security, CEH, CCNA, CCNP, Data Analytics Expert (15+ Year Experience) - IT Professional
Hello Benjamin, Tally has two predefined ledgers: Cash and Profit and Loss. Tally.ERP 9 also supports three types of bank accounts: Saving Account (Bank Account), Over Draft account (Bank OD), and Cash Credit account (Bank OCC).
Tally also allows users to create their own groups, either as sub-groups or primary groups. Users can sub-classify groups to an unlimited level, creating a virtual accounting tree.
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In Tally, there are three main types of accounts:
Each type serves a different purpose in financial management and reporting.
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