Ledger in Tally

Ledgers of the tally are basically the accounts heads. These ledgers are very important for voucher entry in tally. When we create a new company in the tally software then two predefine ledgers are automatically created called Cash A/c and Profit & Loss A/c. later we can create any no of cash A/c but predefine account cannot be deleted. But we cannot create another Profit & Loss A/c.

Create new Ledger

We can create a ledger in two ways. First way, create it at run time when we enter a voucher (just Pressing Alt+C keyboard). In this case we cannot enter any opening balance for the said ledger. Second way, create ledger from gateway of tally. By selecting the following path

Gateway of tally > Accounts Info > Ledger > create

In this window we must enter a ledger name. It is mandatory. But what name you specify is not a matter but after than we must specify the group name of the ledger. You must select the appropriate group name for your ledger. If group name is not correct then that ledger reflects wrongly on the accounts. A huge collection of predefine groups are already supplied by the Tally. We cannot delete any of them but we can alter the same. As well as we can create any customised group for our own accounts.

List of groups

• Capital in nature
  • Capital A/c
    • Reserves and Surplus
  • Current Assets
    • Bank Accounts
    • Cash in hand
    • Deposit (Asset)
    • Loan & Advance(Asset)
    • Stock In Hand
    • Sundry Debtors
  • Current Liabilities
    • Duties & Taxes
    • Provisions
    • Sundry Creditors
  • Fixed Asset
  • Investments
  • Loan(Liabilities)
    • Bank OD A/c
    • Bank OCC A/c
    • Secured Loan
    • Unsecured Loan
  • Suspense A/c
  • Miscellaneous Expenses
  • Branch / Divisions

• Revenue in Nature
  • Sales Accounts
  • Purchase Account
  • Direct Income
  • Indirect Income
  • Direct Expense
  • Indirect Expense

Alter a Ledger

To alter a ledger in tally, we must selecting the following path

Gateway of tally > Accounts Info > Ledger > Alter

Delete a Ledger

To delete a ledger in tally, we must selecting the following path

Gateway of tally > Accounts Info > Ledger > Alter

After opening the ledger screen press Alt + D