Ledger

Ledger Creation & Setup in TallyPrime Accounting Software

Creation of Ledger ‘Rounded off (+/-)’ for rounding the Invoice Value automatically in TallyPrime

 You can create a Ledger ‘Rounded off (+/-)’ to round-off the invoice value automatically.  1.            Gateway of Tally > Create > type or select Ledger and press Enter. Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger and press Enter. Note : If you already created the given Ledger Rounded Off (+/-), you can alter as below 67 2.            Set Type of Ledger? as Invoice Rounding . 3.            …

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Creating, Displaying, Altering and Deleting Ledger Accounts in TallyPrime

A ledger is the actual account head to identify your transactions and are used in all accounting vouchers. For example, purchase, payments, sales, receipts, and others accounts heads are ledger accounts. Without a ledger, you cannot record any transaction. All Ledgers have to be classified into Groups. These groups and ledgers are classified into Profit and …

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Creating Service Ledger with GST Compliance in TallyPrime

In case of Service oriented Business like…Chartered Accountant, Lawyer, Advertising Agency, Consultant, Architectures etc.. they provide Service to the customer and provide Bill / Invoice with GST Compliance. So in this case, TallyPrime provides Accounting Invoice with auto GST Calculations, provided all Service Ledgers has to be created with GST Rate ( as applicable). For …

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Creating Party Ledgers (Sundry Debtor / Sundry Creditor) in TallyPrime

A business deals with customers, wholesalers, retailers, Suppliers and many such business parties on a day-to-day basis. You need to create party ledgers to record transactions that you make, which may involve Sales , Purchase, Receipts or Payments, or Sales or Purchase from these parties. To create a Party Ledger: 1.            Gateway of Tally > Create > type …

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Creating GST Ledger ( CGST / SGST / IGST ) under Duty and Taxes Group in TallyPrime

Tax Ledgers should be created under Duties and Taxes group which contains all tax accounts like GST, and other trade taxes and total liability. To account for the different taxes to be paid under GST (central tax, state tax, union territory tax, integrated tax, and cess), you have to create a tax ledger for each …

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Creating Expenses and Income Ledgers without GST Compliance in TallyPrime

 You can select the income or expenses account group to create ledgers. To create an Expense Ledger: 1.            Gateway of Tally > Create > type or select Ledger and press Enter. Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger and press Enter. 2.            Enter the name of the ledger in the Name field. 3.            Select Indirect Expenses from the List of Groups in the Under field. Note: Select Indirect Income from the List of …

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Creating Bank Account Ledgers in TallyPrime

Bank ledgers contain relevant information about a bank that you use to make or receive payments. You can provide information such as Bank name, Account no., IFS code, and address while creating bank ledgers. To create a bank ledger 1.            Gateway of Tally > Create > type or select Ledger and press Enter. Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger and …

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Creating a Current Liabilities / Assets Ledger in TallyPrime Accounting Software

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. A ledger is the actual account head to identify your transactions and are used in all accounting vouchers. For example, purchase, payments, sales, receipts, and others accounts …

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