Tally.ERP9 Book (Advanced Usage) @ Rs.550


 

Ledger (Create / Alter / Delete) in Tally.ERP9

1. Creating a Single LEDGER :

Gateway of Tally.ERP 9 > Master > Accounts  Info > Ledger  > Create ( Single)

  1. Name Box : enter the name of ledger, alias is used for short name.
  2. Select the group under which the ledger will be created.
  3. Enter the Opening Balance.


Configuring F12 (functional key): You can also configure your ledger creation as per your requirement by using ‘F12’

Name
Enter the Name of the account. Tally.ERP 9 does not allow the entry of duplicate names. The uniqueness check is made here itself.

Note that the punctuation and other non-relevant information are ignored by Tally.ERP 9 in its recognition of a name. Thus, CST, C.S.T. and C. S. T. are all considered as same.

Tally.ERP 9 converts the first letter of all relevant words to upper case, which helps you; speed up data entry.

Alias
Enter an alias name if required. You can access the Ledgers using the original name or the alias name.           

Under
All accounts must be classified under their appropriate Groups. Select the Group under which the Ledger is created from the List of Groups. (To create a new Group from this field press [ALT+ C].    A wrong classification would affect the treatment of the Ledger account in final statements and during voucher entry.

You can, alter a Ledger account to change its group classification at any time.

Opening Balance
If yours is an existing company whose books you are entering into Tally.ERP 9, Opening Balance would be applicable in circumstances where the Ledger is an asset or a liability and if it has a balance in the account as on the date of beginning of books in Tally.ERP 9.

Tally.ERP 9 recognizes normal accounting principles of debit balances for Assets and credit balances for Liabilities. Revenue accounts normally do not have balances. Tally.ERP 9, however, permits you to give balances even for such accounts -

F12 : Configure ( Ledger)

Use of these features

1.             Provide Advanced information in master: This will allow you to enter the data much faster.

2.             Additional information can be provided against any respective ledger, for example:
Phone number of the party.

3.             Address: This feature is useful at the time of party ledger creation.

4.            Contact details: You can enter the name of the contact person.

2. Displaying, Altering and Deleting Ledger Accounts

You can alter any information of the ledger master with the except for the closing balance under the group stock-in-hand.

To display/alter a ledger

  • Go to Gateway of Tally > Accounts Info. > Ledgers > Display or Alter.

Modification of account ledgers is possible for single ledgers as well as multiple ledgers. However for multiple ledgers, all the fields are not available for alteration.

To delete a ledger

  • Go to Gateway of Tally > Accounts Info > Ledgers > Alter > Press Alt+D.

Note: You can delete the ledger if no vouchers have been created under it. If you want to delete a ledger for which vouchers have been created, you have to first delete all the vouchers from that ledger and then delete the ledger account.

Do it... Yourself !

Create the following Assets & Liabilities Ledgers with Opening Balance as given :

In our given Practical Assignment, you must remember all the Bold Letter are Groups (not required to create) under which you have to create all the Ledgers with given Opening Balance

LIABILITIES


CAPITAL ACCOUNT

 

 

 

 

 

 

Sanjay's Capital Account

 

 

10,00,000

 

 

 

 

 

 

 

 

RESERVES & SURPLUS

 

 

 

 

 

Investment Allowance Reserve

 

1,00,000

 

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

PROVISIONS:

 

 

 

 

EXPENSES AND OUTSTANDINGS PAYABLE

 

 

 

Salaries / Wages Payable

 

8,000

 

 

Bonus Payable

 

 

5,000

 

 

Expenses Payable

 

 

6,500

 

 

Interest Payable

 

 

4,500

 

 

Tax Deducted at Source (Payable)

2,500

 

 

GST Payable

 

 

5,500

LOANS (LIABILITY)

 

 

 

 

 

 

LOANS RECEIVED

 

 

 

 

 

 

Loan from Father

 

 

1,75,000

 

 

Mr. ABC Loan Account

20,000

 

DEPOSITS RECEIVED

 

 

 

 

 

 

Deposits Received form Mr. A

 

5,000

 

 

Deposits Received form Mr. B

 

12,000

 

ADVANCES RECEIVED

 

 

 

 

 

 

Customer - A Advance

 

3,000

 

 

Customer - B Advance

 

3,000

 

BANK LOANS AND OVERDRAFTS

 

 

 

 

 

Bank Term Loan

 

 

1,50,000

 

 

Bank Car / Computer Loan

 

1,50,000

ASSETS


FIXED ASSETS

 

 

 

 

 

 

Office Premises

 

 

 

8,00,000

 

Furniture and Fixtures

 

 

 

1,00,000

 

Office Equipment

 

 

 

1,50,000

 

Computers

 

 

 

50,000

 

Fax Machines

 

 

 

20,000

 

Vehicle

 

 

 

 

80,000

 

Air Conditioners

 

 

 

30,000

INVESTMENTS

 

 

 

 

 

 

INVESTMENTS IN SECURITIES

 

 

 

 

 

Investment in Mutual Fund

 

50,000

 

 

Investment in Shares

 

 

1,00,000

 

 

Investment in Postal

 

 

91,000

CURRENT ASSETS

 

 

 

 

 

 

CASH IN HAND

 

 

 

 

 

 

Cash in Hand (Default - Don't create)

25,000

 

 

Office Petty Cash

 

 

5,000

 

DEPOSITS (ASSET)

 

 

 

 

 

 

DEPOSITS GIVEN

 

 

 

 

 

 

Fixed Deposits in ICICI Bank

1,00,000

 

 

 

Deposit with Electric Supply Co.

3,000

 

 

 

Deposit with Telephone Co.

2,000

 

 

 

Deposit with Municipality

1,000

 

 

 

Deposit for Rent

 

5,000

 

LOAN & ADVANCES (ASSETS)

 

 

 

 

 

INCOME TAX ADVANCES

 

 

 

 

 

Income Tax - Advance

1,500

 

 

 

Tax Deducted at Source

1,000

 

 

LOANS GIVEN

 

 

 

 

 

 

Loan Given to Mr. Clean

20,000

 

 

ADVANCES GIVEN

 

 

 

 

 

 

Advance Against Salary to Staff

4,000

 

 

 

Advance for Order to Supplier

6,000

 

 

 

Advance for Expenses

 

2,000

 

 

REFUNDS / CLAIMS RECEIVABLE

 

 

 

 

Claims  receivable

 

3,000

 

 

 

Insurance / Refunds Receivable

2,000

 


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