Ledger Name

Feel free to give the full name of the account. Press tab to move to the next field. It does not allow duplicate names. The uniqueness check is made here itself instead of after you have entered all other information.

You will find that punctuation and other non-relevant information are ignored by Accounts in its recognition of a name, Thus, CST, C.S.T. and C. S. T. are all considered identical.

Group

All accounts must be classified in their appropriate groups. You must specify which group the ledger falls under.

A Group is not important by itself, but because it controls the usage of ledger accounts. A wrong classification would affect the treatment of the ledger account in final statements and during voucher entry. You can, of course, alter a ledger account to change its group classification at any time.