How to create ledgers in Tally Prime ?

By default, two ledgers are in Tally Prime.
1. Cash
2. Profit and Loss account.

Cash ledger is under the Cash -in – hand group. This ledger can be altered and deleted. Profit & Loss account ledger is under the Primary group. This ledger can be altered but not deleted. The profit or loss of the financial year can be shown in this ledger. Apart from these two ledgers, all other ledgers need to be create according to transactions in the company. Let us now learn how to create ledgers in Tally Prime.

Ledgers can be create in two ways in Tally Prime.
1. Single Mode
2. Multiple Mode

Let’s see how to create ledgers in single mode before multiple mode.

How to create Ledgers in single mode in Tally Prime ?

  • Open Tally Prime
  • Press ALT + F3 for list of companies
  • Select your company from the list and press enter
  • If your company is not created, press ALT + K for company menu, select company option, press enter. (Then create your company).
  • Go to Gateway of Tally
    • Masters
      • select “CREATE” option and press enter
        • Accounting Masters
          • select “LEDGER” option and press enter
  • Now LEDGER CREATION Screen displays
  • NAME : <enter the name of the ledger > Ex: Capital A/c of Tarak <press enter>
  • UNDER : <select the group from the list of groups> Ex: Capital Account <press enter>
  • Activate require options if requires <Press enter>
  • Opening Balance : <Enter the opening balance amount >
  • Cr/Dr : Credit or Debit automatically fills based on Group. You can change credit to debit or debit to credit if needs <Press enter >
  • ACCEPT THE TOTAL SCREEN

Additional Features :

Press F12 Configuration key for additional features when creating ledgers. Let’s see some of the features here.

  • Provide Alias for Name : For example, Let’s say a ledger name was entered with the name of State Bank of India. However, if SBI is written in shortcut at Alias field, the only ledger effect is if the ledger is selected with the name of the State Bank of India or with the name of SBI while recording the vouchers. This means that this option can be activated if a ledger has another name or a name in use. The Main ledger name can be entered at NAME field and alias name can be entered at Alias field.
  • Provide Language alias for Names : If this feature is activated, it is possible to enter a ledger name in two languages. You can choose the language from the list.
  • Provide Description for Ledgers : If you want to write a description to the ledger you are entering , this option can be activated.
  • Provide Notes for Ledgers : This option can be activated if you want to add something like notes
  • Provide Opening Balances for Ledgers : If the opening balance field is not visible, while create the ledger, this option means it is in the disable. If the option is enable, you can enter opening balance at the time of ledger creation.
  • Provide Mailing Details & Provide Contact Details : If these two options are activated, fields will come to enter address details and contact details in ledger creation.

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