Creating of Ledger Accounts

                                         

Before recording various business transactions like purchases, sales, receipts, payments the user should create all the ledger accounts involved in the business. The record of each ledger A/c is called an accounts master. Once ledger accounts are created and saved they may be used to record the transactions not only during the current financial year but also in future years. The following options selected step would bring up the ledger creation screen.

Path: Gate way of tally à Accounts info à LedgersàSingle or Multiple Ledgers à Create.

  

            Enter the name of the ledger account select it’s group basing on the location of the account in final reports like trading A/c, P&L A/c B/S and enter the opening balance if any, for customer and supplier A/c’s enter their address, sales tax, income tax recitation numbers, enter the rate of calculation for duties & taxes accounts. For bank accounts enter the effective date of reconciliation, for foreign party accounts enter the currency symbol in which such accounts is to be maintained.