TutorialKart.comCreate a Single Ledger in Tally.ERP 9
A ledger records transactions for a particular account, such as a customer, supplier, bank, expense, income, asset, or liability. In this Tally tutorial, you will learn how to create a single ledger in Tally, review its details, and alter it when a correction is required.
The example creates a ledger named Axis Bank Account under the Bank Accounts group. The screenshots show Tally.ERP 9. TallyPrime uses a different menu layout, but it requires the same essential details: a unique ledger name, an appropriate parent group, and an opening balance when applicable.
Tally provides the Cash and Profit & Loss ledger accounts by default. Create additional ledgers according to the accounts maintained by the business. For example, a business may create a separate Petty Cash ledger under the appropriate cash group.
Open Single Ledger Creation in Tally.ERP 9
Path: Gateway of Tally –> Accounts Info –> Ledgers –> Single Ledger –> Choose Create
Step 1: From the Gateway of Tally screen, select Accounts Info.
Step 2: On the Accounts Info. screen, select Ledgers.
Step 3: Under Single Ledger, select Create.
Enter the Single Ledger Details for Axis Bank Account
Step 4: Complete the fields on the Ledger Creation screen. The fields displayed can vary according to the company features enabled through F11 and the group selected for the ledger.
- Name: Enter Axis Bank Account. Use a clear, unique name that distinguishes this account from other bank accounts.
- Alias: Enter an alternative name only when the account is also identified by another name or internal code.
- Under: Select Bank Accounts. This group identifies the accounting nature of the ledger and affects its classification in reports.
- Opening Balance: Enter the account balance as of the beginning date of the books, if applicable. Check the amount and its Dr or Cr designation before saving.
Enter any additional bank-related details required by the enabled company features. Press Enter through the remaining fields, review the ledger, and choose Yes under Accept to save it in Tally.ERP 9.
Select the Correct Group When Creating a Ledger in Tally
The Under field should reflect the actual nature of the account. Choosing a group only because its name appears similar can place the balance in the wrong section of accounting reports.
| Ledger example | Typical group |
|---|---|
| Axis Bank Account | Bank Accounts |
| Petty Cash | Cash-in-Hand |
| Customer account | Sundry Debtors |
| Supplier account | Sundry Creditors |
| Sales account | Sales Accounts |
| Purchase account | Purchase Accounts |
These are common classifications, but the correct group depends on the purpose of the ledger and the accounting structure used by the business.
Create a New Ledger During Voucher Entry
If a required ledger does not exist while recording a voucher in Tally.ERP 9, place the cursor in the ledger selection field and use Alt+C to open the Ledger Creation screen. Enter the ledger details, accept the new master, and return to the voucher.
Before using the new ledger in the voucher, confirm its parent group and opening balance. Creating a ledger quickly from a voucher should not replace the normal accounting checks.
Single Ledger Creation Checks Before Saving
- Confirm that the ledger name is unique and does not duplicate an existing account with different spelling.
- Verify that Axis Bank Account is placed under Bank Accounts rather than an unrelated group.
- Match the opening balance with the bank statement or opening trial balance.
- Check whether the opening balance should be marked Dr or Cr.
- Review any bank, tax, mailing, or statutory fields displayed because of enabled company features.
Display a Single Ledger in Tally.ERP 9
Use the Display option to inspect a ledger without editing its master details.
Path: Gateway of Tally –> Accounts Info –> Ledgers –> Single Ledger –> Choose Display
Select the required ledger account from the List of Ledgers.
Tally displays the saved ledger details. Review the ledger name, parent group, opening balance, and any additional information shown for that account.
Display mode is intended for viewing the master. Open the Alter screen when a saved field needs to be corrected.
Alter a Single Ledger in Tally.ERP 9
Path: Gateway of Tally –> Accounts Info –> Ledgers –> Single Ledger –> Choose Alter
On the Select Ledger screen, choose the ledger account that needs to be updated.
Modify the required details and choose A: Accept to save the changes in Tally.ERP 9. Review the effect on reports and existing vouchers before changing the group or opening balance of a ledger that is already in use.
Single Ledger and Multiple Ledger Creation in Tally
Single Ledger creation is suitable when you need to configure one account and complete its detailed fields. Multiple Ledger creation is useful when several accounts must be entered under the same group with basic details and opening balances.
Continue to read: How to create multiple ledgers in Tally.
Frequently Asked Questions About Single Ledger Creation in Tally
How do I create a single ledger in Tally.ERP 9?
Go to Gateway of Tally → Accounts Info. → Ledgers → Single Ledger → Create. Enter a unique ledger name, select the correct group, complete the applicable details, and accept the screen.
What is the shortcut for creating a ledger during voucher entry?
In Tally.ERP 9, press Alt+C from a ledger selection field to create a missing ledger without leaving the voucher workflow. After accepting the ledger, continue entering the voucher.
Why does the Tally Ledger Creation screen show additional fields?
The available fields depend on the selected ledger group and the company features enabled through F11. A bank, party, or tax-related ledger can therefore show fields that are not required for a basic expense or income ledger.
Can I change the group of an existing ledger in Tally?
Open the ledger through Single Ledger → Alter and review the Under field. If Tally permits the change, select the correct group and accept the master. Check affected reports and vouchers before changing the classification of a ledger already used in transactions.
When should I use single ledger creation instead of multiple ledgers?
Use single ledger creation when one account requires detailed configuration. Use multiple-ledger creation when entering several accounts that share a group and require only the fields available in the multiple-ledger screen.