After learning about “How to Create a group Company?” in TallyPrime. Now we will explore about “How to create ledgers in Tally?”. We will discuss multiple ways to create ledgers, so let’s start.
Watch Video to Create Ledgers
Create Ledger from Gateway of Tally-> Masters
From The Gateway of Tally press “C” after that type “L” select “Ledger”, “Ledger Creation” screen will be visible.
Let’s create a purchase ledger from the Ledger Creation screen
Enter/select the following details:
Name- Purchases, Under- Purchase Accounts, Type of Ledger, Statutory Details, Opening balances, etc.
Similarly, you can create a Sales ledger under the Sales account. Create the same and comment below.
Press “Ctrl + A” to save that ledger.
Create Ledger from Accounting Voucher Creation Screen
Let’s create ledgers while recording a voucher entry- Press “V“ from the Gateway of Tally, press “F8” to enable “Sales Voucher” in “Party A/c name” press “Alt + C” or click on “Create” from the “List of Ledger Accounts”. Enter the following details:
Name – Tata, Under – Sundry Debtors and enter more details as per the need. Press “Ctrl + A” to save that ledger.
In the same way create another ledger name “Reliance” and save it. Press “Esc” key and see below another way to create ledger.
Create Multiple Ledger in One go
For example you want to create ledger like Rent, Electricity Expenses, Printing & Stationary then you do not need to create it one by one.
Let’s create it in the one go. From the Gateway of Tally Press “H” (CHarts of Accounts). Select the Ledgers under “Accounting Masters”, press “Alt + H” (Multi- Masters), and select “Multi Create”. Multi Ledger Creation screen will be visible, now “Under Group” select/enter the group name you want to create ledgers. In our case, it is “Indirect Expenses” select that and type the name of ledger one by one.
Press “Ctrl+A” to save that.
Create ledger from the Balance Sheet/ P&L A/c | Using “G: Go To”
Suppose, you are viewing the balance sheet and you found that you forgot to create the “ICICI Bank A/c” ledger that contains the opening balance from the last year. Now to quickly create ledgers from the balance sheet press “Alt + G” select Create master under the list of reports. After that select the ledger under “Accounting Masters”.
Type the Name ICICI Bank, Select the Bank Accounts from the list of Groups, Enter the bank details and enter more details as per your needs after that press “Ctrl + A” to save that.
Similarly, create ledger from Profit & Loss A/c, Create ledger name “Interest Income” and save that and comment below in the comment box.
If you face any issue while creating ledgers in TallyPrime, please do write your query below in the comment box, and don’t forget to share your valuable feedback.
