Account Group Master

The Account Group stands for the Group under which any particular account is classified.  Standard Account Groups are already provided with their effects on the   Balance Sheet.  New account groups  can be added by clicking on new. Head group Name is all predefined, you can add a new group as per your requirements, you can select what kind of an effect the group is going to have, whether it’s an asset, liability , expenses or income from the Account effect option, please also specify what kind of an income head it’s going to provide  and click on Save. when done.

 While adding or editing any group, care must be taken to enter the correct  head group  under which  this group is to be classified and  effect of the account under this new  group.

Any change or Addition/Deletion in Group Master should be done only if it is  necessary  as it will change their effect on Final accounts.