How to create Party (Service Provider/Receiver) Ledger?
To create Service Provider Ledger under Sundry Creditors
Go to Gateway of Tally> Accounts Info.> Ledgers> Create
In F12: Configure (Ledger Configuration)
- Set Allow Advanced entries in Masters to Yes
- Set Use Addresses for Ledger Accounts to Yes
In the Ledger creation screen:
- Enter the Name of the Party Ledger e.g. Creative Online Agency.
- Select Sundry Creditors from the List of Groups in the Under field.
- Set Maintain balances bill-by-bill to Yes.
- Enter the Default Credit Period, if required.
- Set Is Service Provider/Receiver to Yes.