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What is the process of Accounts Group in Marg Books?

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Overview of Account Groups in Marg Books

Process to View Predefined Account Groups in Marg Books

Process to Create Sub Group or New Account Group in Marg Books

Process to Modify an Account Group in Marg Books

Process to Delete an Account Group in Marg Books

OVERVIEW OF ACCOUNT GROUPS IN MARG BOOKS

  • An Account Group is a broad level categorization under which similar types of accounts are grouped under one head. Grouping of accounts helps in determining efficient compliant reports.
  • Basically, Account Group is used to Create/Modify/Delete the Account Group. Account Group refers to the accounts like expenses, Bank details, cash details, etc.
  • Account Group displays the total number of the Account Groups along with their sub-groups which are being created in the Marg Books.

PROCESS TO VIEW PREDEFINED ACCOUNT GROUPS IN MARG BOOKS

  • Firstly, Go to Master >> Account Master >> Group.

  • A Predefined ‘Account Group List’ window will appear.

  • Sundry DebtorsThis is a subgroup under current assets. These accounts are also called Accounts receivable accounts.
  • Like if a user creates a Ledger of the party to whom the products are been sold i.e. ‘Customers’ then the ledger of those customers will be created under ‘Sundry Debtors’ Account Group.

  • Sundry Debtors (Field Staff): If the user has a marketing Representative and gets commission, then it will be mentioned under this group.

  • Sundry Creditors: Under Sundry Creditors group, create ledgers of those ‘Suppliers’ from whom the user purchases the products. These accounts are also called vendor accounts or accounts payable accounts.

  • Sundry Creditors (Expenses Payable): Under Sundry Creditors (Expenses Payable), the user would create ledgers of the expenditure that is being incurred.

  • Sundry Creditors (Field staff): Under Sundry Creditors (Field Staff), the user would create ledgers of the ones to whom commission is being paid.

  • Direct Expenses: Under Direct Expenses, the user would create ledgers which directly affect the manufacturing or trading expenses.

  • Indirect Expenses: Under Indirect Expenses, the user would create ledgers for expenses related to admin like refreshment expense or office expenses.

  • Direct Income: This is a primary group. The user would create all income accounts that are to be credited to trading A/c under this group. 

  • Indirect Income: Under Indirect Income, the user would create ledgers of the income earned by the way of non-business activities.

PROCESS TO CREATE SUB GROUP OR NEW ACCOUNT GROUP IN MARG BOOKS

  • In order to create a Sub-Group or New Group, go to Master >> Account Master >> Group.

  • An ‘Account Group List’ window will appear.
  • Click on ‘Create’ tab.

  • A ‘Create Account Group’ window will appear with different fields:
  • Group Name: Mention the name of the group as per the requirement. Suppose the user needs to create a sub-group under bank accounts group. So mention ‘IndusInd Bank’.

  • Under Group: Select the ‘Bank Accounts’ option from the dropdown.

Prohibited: If the user needs to prohibited this new group or sub group from other users then select ‘Yes’ or ‘No’ accordingly.

Suppose select ‘No’.

  • Then click on ‘Save’ tab.

  • A message of ‘Record Saved Successfully’ will appear.

  • So in this way IndusInd bank Subgroup has been created.

PROCESS TO MODIFY AN ACCOUNT GROUP IN MARG BOOKS

The Predefined Account Groups cannot be modified

  • Go to Master >> Account Master >> Group.

  • An Account Group List’ window will appear.
  • In order to modify an Account Group, the user will click on the ‘Edit’ icon against that particular account group.
  • Suppose ‘IndusInd Bank’.

  • A ‘Modify Account Group’ window will appear.
  • The user will now modify the Account Group as per the requirement.

Fig 1: Process to Modify Account Group in Marg Books 

  • Then click on ‘Update’ tab.

  • A message of ‘Record Updated Successfully’ will appear.

PROCESS TO DELETE AN ACCOUNT GROUP IN MARG BOOKS

The Predefined Account Groups cannot be deleted and if the user has selected the Account Group in any particular ledger of a party then that Account Group cannot be deleted.

  • Go to Master >> Account Master >> Group.

  • An 'Account Group List’ window will appear.
  • In order to delete an Account group, the user will click on the ‘Delete’ icon against that particular account group.
  • Suppose ‘Axis Bank’.

  • A ‘Confirmation’ message of ‘Are you sure you want to delete the selected record’ will appear.
  • The user will click on ‘Yes’ to delete that particular Account Group.

  • A message of ‘Record deleted successfully’ will appear.



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