Account groups hold information about a group of accounts. The group can have multiple accounts. These accounts can be grouped based on your requirements. E.g. Group accounts for separate companies. For an overview of account groups click here.

Fields & its description:

• Code

Enter any code for the account group.

• Name

Type the corresponding name of the account group.

• Short Name

Type any short name for the account group in this field.

• Nature

Under nature, select the most suitable type to describe the account group.

• Under

This is the respective parent of your account. But if this is selected as None then this account itself becomes the parent. Similarly, after you save this entry, you can create accounts under this parent.

• Schedule

Select the schedule of this particular account in this field.

• Opposite Group

This account can have an opposite group which can be selected here. E.g. Sales account group can have Purchase group as its opposite.