Group account
A group account only adds up the accounts hung under it; you never record an entry in a group itself. Example: the group Current assets shows the total of Cash, Bank and Receivables, and you record the entry in Cash or Bank.
A group account only adds up the accounts hung under it; you never record an entry in a group itself. Example: the group Current assets shows the total of Cash, Bank and Receivables, and you record the entry in Cash or Bank.