Ledger and related groups

Posted on July 13, 2010 by Mahendra • 21 Comments

So Many frequently, I receive comments/feedback from my readers that after downloading the latest software of tally.erp 9 and creating a new company in tally.erp 9 what they should do to learn the tally.erp 9 and how to go ahead. The most confusing thing in tally.erp 9 for a beginner esp if unfamiliar with accounts is the ledgers and grouping of the same

The next step for all such readers, I will suggest to t to create some ledgers in tally.erp 9. Because in when a new company is created in tally.erp 9, two ledger will be created by default that is cash and profit and loss account.

So, until and unless an user create some ledgers in a newly created company, he/she will not be able to post any entries in tally.erp 9

BUT again while creating the ledgers in tally,erp 9, people feels difficulty that is which ledger should be created and more difficult is to determine the group to which a ledger will belongs to.

For the benefit of all such readers, I am giving a brief list in general nature but again some basic ledgers with related group which every company should have to maintain. Before going further , you should have a look to the basic accountancy that will enhance your understanding to accountancy and tally.erp 9 and will help you to learn tally.erp 9 in a quick and smooth way.

Sr. No.	Direct & Indirect Expenses	Sundry Creditors/Current Liabilities/ Statutory liabilities, Duties & Taxes	Sundry Debtors, Cash & Bank, Current Assets,Loans and advances,Deposit
01	Printing & Stationery Expenses	All ledger from whom you purchase goods, services or fixed assets	All customer ledger to whom you sell goods or provide services.
02	Office Expenses	Salary payable, professional tax payable, pf payable will come under Current liabilities	Bsnl Deposit, Electricity deposit bank deposit will come under deposit group
03	Travelling Expenses	Auditors, Consultants ledger account	Investment made in shares or other securities will come under Investments
04	Office Staff Salary	All, duties/tax account will come under duties and taxes account.	current/saving bank will come under bank accounts
05	Conveyance Expense	O.D/ CC/Loan will come under Secured loans/ Bank OCC account
06	Depreciation
	Transportation
	labour charges, Salary, pf admin charges, electricity bills,maintenance and repairs etc

This is not the exhausted list. It is just for general reference purpose for beginners who are exercising their hands for the first time on accounts/ tally.erp 9.

Further to above, Direct and indirect nature of expenses depends on some factors like nature of business e.g. mfg, company, trading company, service provide etc but these things are for advances users of accounts and is useful for reporting purpose only.

This list is very useful for beginners who wanted to learn tally.erp 9 on their own but again don’t know how to start then they should go through the same

If you like feels this article is useful, then why don’t you retweet it and follow me on twitter @tallynine. I will very glad to see on twitter

Mahendra (192 Posts)

Mahendra is founder and CEO of the I Vision Infotech, Authorised Tally Sales and Service Partner and helping Tally users to learn Tally and accounting free through this site

Muhammed Riyas

if balancesheet, a specfic ledger showing negative balance.is it possible?

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Mahendra

Muhammed,
Yes, that's possible. The balance sheet will show you what u input in the System or just a mirror of your transactions. To avoid such unpleasing look of balancesheet you need to play with your accounts, group it properly and u will be able to show it appropriately

how can i transfer the profit of the company.
could you please tell me the entry for profit transfer.

capital reserve comes under?

hiral

HI
I NEED MORE INFORMATION ABOUT CASH FLOW AND FUND FLOW EXAMPLES IN TALLY IF YOU KNOW HOW TO PREPARE FUND FLOW AND CASH FLOW PLEASE SEND ME MORE INFORMATION ABOUT IT

THANK YOU
REGARDS,
HIRAL

ashok

i have a problem that when ever i create a ledger in contra i.e. interest account by puting Alt + C (Create Ledger) it does not shows in Contra but it is shown in payment, receipt side. so it is not possible to put entries of interest in contra account. please reply immediately.

Ashok,
"Contra "is not for a payment or a receipt voucher.
Contra just suggest chaning of money from one pocket to another pocket! e.g. ownership of the item/benefit value remains with the same current owner.
Say for interbank or inter cash transactions or cash to bank and bank to cash transactions.
Interest on receipt is your income so it will be posted in a Receipt voucher only.
hope it will help you.

dipak

what is group of defense maintance

Santosh Sharma

Dear Sir

I want to list of all ledger under group.
like cash-cash in hand

Basha

How to prepare voucher formats in tally.erp9

rajesh

sir,

what should be the group of credit cards in tally

Rajesh,
For credit card group will be sundry creditors

debadutta jethy

i have problem in allocating ledger under Group Ledger.Kindly Send me the Ledger under group List on my email.

mohamed jama

i understand tally erp9 creating account and inventory information but problem is how to use through internet to connect business of different position i mean connect and disconnect in lefside f4

Dear Mohamed,
F4 Site connect is something different. It is used for remote access/ edit of data. that is suppose you want to work on your tally which is installed at your office system,but again you can work on the same at your home without a genuine tally.erp 9. you do not need a licensed copy to work on a remote tally.
for more information, please read my article on remote access.

saurabh kenche

i know tally erp 9, but what mean by remote access tally, how it is useful?

Saurabh,
Please read my articles on Remote access on the site. you will get all the required information

ashoka

it is very use full to me to under stand the ledger and groups sir but one doubt stock and cash in hand and owners capital is comes under which group or ledger if answer me its is urgent

Ashok,
Cash ledger is in built ledger that is automatically creaed under Cash in hand group by the tally system when you first create a new company. You don't need to create a cash ledger account. However if you wish so, you can create a petty cash ledger (same under Cash in hand group).
Capital will come under capital group account.

shaziyabanu

i want to know that how to create ledger..

Shaziyabanu,
Go to main menu of tally.erp 9
Select Accounts Info
then Ledger
Then create new
and start typing name of ledger you wish so.
I am sure you will find it as easy as 1...2...3...

madan

Respected Sir,
I am learning Tally 9 ERp but I have problem with Ledger 7 Its Group please send me Ledger and group on my email ID.