What do we mean by Groups in Reckoner Chart Of Accounts?
Answer. We all know what term ‘Group’ means by its literal meaning , In ‘Reckoner ‘ We have extended this definition to a broader level, in the sense that here you can group any number of accounts under one group termed as leaf groups. In Reckoner , further more you can group any such leaf group under another group and likewise ,build your Chart of accounts. Any new group has to belong to any one of four default group i.e. it has be a child of these default groups or groups created under them. Groups with Same name are however not allowed . Assigning of parent for new group is mandatory. Under the Group there can either be all Groups or all Accounts. Group under which accounts are created is defined as leaf group .This means Once an account is created under a particular group no further sub groups can be defined for that group.
