Explain 'Group of Accounts' with reference to Accounting software Tally.

Group of Accounts is a method of organising the large number of ledger accounts into sequential arrangement for recording and summarisation of accounting data. In accounting software the pre-defined groups and these existing groups cannot be altered. In the account groups there are $\displaystyle 28$ pre-defined groups, out of these groups $\displaystyle 15$ are primary groups and $\displaystyle 13$ are sub-groups. Primary groups : It is a basic grouping of the set of sub-groups into major account heads according to their listing in Balance Sheet and P/L A/c. Sub-group : It is a set of accounts opened in the ledger of recording of related transactions.