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Creating Expenses and Income Ledgers

To create an expense and Income 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.…
Creating Party Ledgers

Party ledgers must be created under Sundry Debtors or Sundry Creditors group. Customers (Sundry Debtors) buy goods or services for cash or on credit. Suppliers (Sundry Creditors) supply goods and services for cash or on credit. To create a party…
Creating Bank Ledgers

Bank ledgers have to be created under the group Bank Accounts/Bank OCC Account/Bank OD Account. Configurations for cheque register, cheque printing, bank reconciliation have to be made in the ledger master. To create a bank ledger 1.     Go to Gateway of…
Creating Duty and Taxes Ledger

Tax Ledgers should be created under Duties and Taxes group which contains all tax accounts like VAT, CENVAT, Excise, Sales and other trade taxes and total liability. To create a Tax Ledger Go to Gateway of Tally > Accounts Info.…
Creating Current Liabilities and Current Assets Ledgers

Accounts like Outstanding Liabilities, Statutory Liabilities and other minor liabilities can be created directly under Current Liabilities and Assets can be classified as Current assets and Fixed assets. To create Fixed Assets ledger Go  to Gateway of Tally > Accounts…