How to Create Ledgers

When we Create Company, 2 ledgers are already created by default

1. Cash Account
2. Profit and Loss Account.

All other ledgers have to be manually created before we can begin work in Tally

How to Make Ledgers in Tally

Click on Accounts Info -> Ledger -> Create

Shortcut - Type ALC

We have to Put Ledger Name and Select Under which Group or heading

What are Groups or Heading?

It helps Tally to determine type of Ledger (Whether ledger is an income or expense or Asset or liability)

it is necessary to put ledger in correct head or group so that Tally can account it properly 

Example

Suppose we have to pass the entry

Telephone Expense Dr 2000

            To Airtel          2000

In this case,we have to create 2 ledgers

1. Telephone Expense
2. Airtel

What Groups should be selected while making ledgers?  

For your ease, we have created a Ledger Group List which you can refer while making ledgers

You can download it from next page.