Ledger Creation in Tally | (Single & Multiple)

Ledger Creation in Tally | (Single & Multiple) |

Hello everyone welcome to TwinkleTalks.Com. In this article, we are going to discuss about single and multiple ledger creation in Tally ERP-9 Accounting software.

This is the Fourth (4th) Article in Tally ERP-9 series. If your not looked at previous one please read those articles by clicking the provided link below and come back to here.

Article 1 : Introduction to Tally ERP-9.

Article 2: What is a company? and How to create it in Tally?

Article 3: What is a Ledger? and Ledger groups in Tally?

As we discussed in the previous article ” A Ledger will provide each and every type of transaction details we entered”.

Just have a look on how a single ledger and multiple ledger will look like in Tally software.

Single Ledger :

Multiple Ledger:

I will tell you how to create ledger’s for the “Apraja Industries” by taking a problem as an example.

Sample Problem:

1. Assume that Mr.Nani Nestham is the owner of the “Apraja Industries”. 
2. The Company (Apraja Industries) have a bank account in “Bank of India”.
3. Apraja Industries purchases the goods from “Sony Enterprises”.
4. Apraja Industries Sells the goods to “Keerthana Solutions”. 

As we discuss in the previous topic we must assign the suitable Ledger group to the Ledger. For the above problem we need to create six (6) ledgers like shown in the below table.

Sundry Creditors: If we purchase the items from the company X, then X company will be a Sundry creditors to us.

Sundry Debtors: If we sold the items to some “Y” then the Y is our Sundry Debtors.

Multiple Ledger Creation

Path: Gateway of Tally >> Accounts Info >> Ledgers >> cReate

When we choose the “cReate” option then we will get the screen as like below.

Just look at the Top Left corner we have a Under Group section for that we have to press the Enter button to select the all ledger groups. But later, if we want to create some particular ledgers then we need to select those related ledger groups at Under Group section.

For the above problem we have to create the ledgers as shown in below.

1. Type the Owner name Mr.Nani Nestham at Name of the Ledger and assign the ledger group as Capital Account to that at Under section.
2. Type the Bank name as ” Bank of India” at Name of Ledger section and assign the Ledger group as Bank Account to that.
3. Type as Sony Enterprises and assign the ledger group of Sundry Creditors to that.
4. Type like Keerthana Solutions as a ledger name and assign the Ledger group i.e., Sundry Debtors to that.
5. Enter the ledgers name like Items Purchased and Items Sales and assign the ledger groups Purchase Account and Sales Account to them and finally save them by pressing the Y button (or) Enter button.

we are successfully created the Multiple Ledgers in Tally. We can check and Alter (edit) the list of the ledgers by following the path mentioned in below.

For Display: Gateway of Tally >> Accounts Info >> Ledgers >> dIsplay.

For Alter (edit): Gateway of Tally >> Accounts >> Ledgers >> AlTer.

Single Ledgers Creation

For creating the Single ledgers in Tally ERP-9 please follow the path mentioned in below.

Path: Gateway of Tally >> Accounts Info >> Ledgers >> Create

after we choosing the create option we will get the screen like this

Similarly, we have to create same ledgers and ledger groups again but separately. Let’s check it out.

Mr. Nani Nestham – Capital Account

Enter the all details

Ledger Name: Mr.Nani Nestham, Under group: Capital Account.

alias : Owner (it is differ for different Ledgers, just as like a shortcut name for understanding purpose).

save by accepting as Yes.

Note: we have to give each detail of owner at the real workspace.

Bank of India – Bank Account

Ledger Name: Bank of India, Under group: Bank Account.

Details must be entered :

Bank Account Details: Account Holder name, Account Number, IFSC code, Bank Name, Branch.

We can also set the Cheque Books and their Dimensions and configuration if we required.

Sony Enterprises – Sundry Creditors

Ledger Name: Sony Enterprises, Under: Sundry Creditors

• (optional) : We can maintain the transactions like bill-by-bill and setting the Credit period which is provided by the Sundry Creditors.
• we must provide the banking details and PAN details in real workspace and there is no need to give those banking details and credit period in educational version (while learning).

Keerthana Solutions – Sundry Debtors

Ledger Name: Keerthana Solutions, Under: Sundry Debtors.

• Simmilarly, like Sundry Creditors we can maintain the transactions like bill-by-bill and also set the Credit period which is provided by the Sundry Creditors.
• we must provide the banking details and PAN details in real workspace and there is no need to give those banking details and credit period in educational version (while learning).

Items Purchased – Purchase Account

Ledger Name: Items Purchased, Under: Purchase Account.

• Rounding Method: We can choose the different rounding method like Downward Rounding, Upward Rounding, Normal Rounding(preferred). It will help you to take roundup the decimal values in the Total amount value.
• We can use this ledger on anytime for purchasing the items (or) goods from different stores/companies.
• After entering the all details save the ledger by accepting Yes (or) by pressing the Enter button.

Item Sales – Sales Account

Ledger Name: Item Sales, Under group: Sales Account

• We can use this Ledger when we sold the items/goods to someone(Sundry Debtors).
• As like in Items purchase ledger We can choose the different rounding method like Downward Rounding, Upward Rounding, Normal Rounding(preferred) and rounding limit.
• Save this ledger after giving the details.

Successfully, we created the Ledgers (Single and Multiple) in Tally ERP-9. We can see the list of the ledgers when we want by going through the path provided below.

Path: Gateway of Tally >> Accounts >> Ledgers >> Display.

Thank you for reading the single and multiple ledger creation in tally erp 9 software please share the knowledge and keep smiling.

Tally Prime:

Read More

1. Basic Introduction to Tally ERP9.

2. Basic Information about Indian Stock Market.