Gateway of Tally.ERP 9 > Master > Accounts Info > Ledger > Create ( Single)
Configuring F12 (functional key): You can also configure your ledger creation as per your requirement by using ‘F12’
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.
Enter an alias name if required. You can access the Ledgers using the original name or the alias name.
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.
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.
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
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
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.
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
Sanjay's Capital Account
RESERVES & SURPLUS
Investment Allowance Reserve
EXPENSES AND OUTSTANDINGS PAYABLE
Salaries / Wages Payable
Tax Deducted at Source (Payable)
Loan from Father
Mr. ABC Loan Account
Deposits Received form Mr. A
Deposits Received form Mr. B
Customer - A Advance
Customer - B Advance
BANK LOANS AND OVERDRAFTS
Bank Term Loan
Bank Car / Computer Loan
Furniture and Fixtures
INVESTMENTS IN SECURITIES
Investment in Mutual Fund
Investment in Shares
Investment in Postal
CASH IN HAND
Cash in Hand (Default - Don't create)
Office Petty Cash
Fixed Deposits in ICICI Bank
Deposit with Electric Supply Co.
Deposit with Telephone Co.
Deposit with Municipality
Deposit for Rent
LOAN & ADVANCES (ASSETS)
INCOME TAX ADVANCES
Income Tax - Advance
Tax Deducted at Source
Loan Given to Mr. Clean
Advance Against Salary to Staff
Advance for Order to Supplier
Advance for Expenses
REFUNDS / CLAIMS RECEIVABLE
Insurance / Refunds Receivable
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