During working on the “Tally” software it is very important that first you have to create different “Ledger Accounts” in any group of your active company as per your company requirement. “Ledger Accounts” are very important part of the accounting from which you can create different types of voucher or journal entries in the active company in Tally software.
These “Ledger Accounts” are very helpful to preparing meaningful reports like Bank status, Outstanding balance of Debtors and Creditors, Cash book, Expenses report, Income status and Final Accounts (Trading account, Profit and Loss account and Balance Sheet). Ledger is the important accounting head from which you recognize any deal and must be used in different type of vouchers. Without a ledger we cannot record any transactions. Ledger creation under particular group is in important part in Tally. Exp: Purchase, Sales, Expenses, Incomes, Assets, Liabilities and many more all these accounts heads are ledger Accounts.
These ledger accounts effect on final accounts like Trading, Profit and Loss accounts and Balance Sheet. When data’s are recorded in a systematic way to maintain accounts, in that case tally provides the facility to creating ledger accounts are incurred in business. So, proper items are recorded in ledger.
Note: By default there are two ledger accounts already created in tally accounting software, there is no need to create these ledger accounts again.1. Cash2. Profit and Loss If you want to create any ledger accounts in tally software take following steps given below:
Gateway of Tally (GOT) -> Click of the “Accounts Info” option -> Click on the “Ledger” option -> Choose any given mode either Single or Multiple -> Now, click on the “Create” option.
How to create Single-Multiple Ledger Accounts:
Single Ledger Account
1. Create: To create new ledger account in active company in Tally software.
2. Display: To view any existing ledger account information only. You don’t have permit to change or delete any ledger account information from the option.
3. Alter: To change any existing ledger account information or you can also delete any created ledger by user by pressing ALT+D short key combination.
Multiple Ledger Account
1. Create: To create one or more new ledger accounts in the same or different groups in Tally software.
2. Display: To view one or more existing ledger accounts information only.
3. Alter: To change any existing ledger but you can’t delete any existing ledger account you can only modify information of ledger account.
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