You can select the income or expenses account group to create ledgers.
To create an Expense Ledger:
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create.
2. Enter the name of the ledger in the Name field.
3. Select Indirect Expenses from the List of Groups in the Under field.
Note: Select Indirect Income from the List of Groups if you want to create an income ledger.
4. Set the option Inventory values are affected? to No . (Default is No)
The expense Ledger Creation screen appears as shown below:
5. Regarding Statutory Information, GST should be Not Applicable , as well as the Option ‘Include in assessable value calculation for’ should be Not Applicable as white marked above.
6. Press Ctrl+A to accept.
You can also enable cost centre options in expenses or income ledger.
1. Go to Gateway of Tally > F11: Features > Accounting Features.
2. Set the option Cost/Profit Centres Management to Yes.
3. Set the option Cost centres are applicable? to Yes in the Ledger Creation screen, if any of the transactions have to be allocated to a particular cost centre.
Create the following Incomes and Expenses Ledgers as per given Groups… (without Opening Bal.)
Account Groups in Tally.ERP9
Ledger (Create / Alter / Delete) in Tally.ERP9
GST Setup (Activation) in Tally.ERP9
Creating GST (CGST/SGST/IGST) Ledger in Tally.ERP9
Creating Party Ledger (Sundry Debtor/ Sundry Creditor) in Tally.ERP9
Creating Sales and Purchase Ledgers for GST Compliance in Tally.ERP9
Creating Service Ledger with GST Compliance in Tally.ERP9
Creation of Rounded off (+/-) Ledger for rounding the Invoice Value automatically in Tally.ERP9
Creating Bank Account Ledgers in Tally.ERP9
Creating Expenses and Income Ledgers without GST Compliance in Tally.ERP9
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