Ledger Creation in Tally 7.2

When you want to make voucher entries in tally, you must create you ledger first time new account record in tally because without making ledger you can not pass the voucher entries in tally So you have to learn how to make or create ledger. This is very simple. Two ledger automatically, other ledger you have to create. For this you will learn following list and under head of group.

( I) Automatic created ledger in tally

Cash and profit and loss account is two automatic ledger created in tally
Do not make them but if there is opening balance in cash account the
go to Account info → ledger and the click → alter → then put the opening balance in cash account and accept

(II) Ledger Creation by you

S.No. Name of Account Under head of Group

1. Capital Account → Capital Account
2. Name of your creditors → Sundry Creditors
3. Name of your Debtors → Sundry Debtors
4. Name of Expenses → Direct Expenses or Indirect Exp.
5. according to the nature of expenses
6. Name of Income → Indirect Income
7. Name of Bank → Bank Account
8. Name of Current Asset → Current Assets
i) stock in hand
ii) deposits
iii) show short term investment
9. Name of Fixed Asset → Fixed Asset
10. Name of Current Liabilities → Current Liabilities
11. Name of Fixed Liabilities → Fixed liabilities
12. Name of Loss → Direct Expenses or Indirect Exp.
13. Bad Debts → Indirect Exp.
14. Provision for Bad Debts → Current Liabilities
15. Outstanding Expenses → Current Liabilities
16. Advance Income → Current Liabilities
17. Outstanding Income → Current Assets
18. Sale Tax / VAT → Duties and Taxes
19. Excise Duty / CENVAT → Duties and Taxes
20. Drawing → Capital
21. Purchase → Purchase account
22. Sale → Sale Account



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Accounting Education: Ledger Creation in Tally 7.2
Ledger Creation in Tally 7.2
Accounting Education
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