Ledgers

 LEDGERS: - Ledgers are created to classify business dealings in subgroups.

To create ledger after creating company press (escape key) to go gateway of tally. Click on accounts info then create

Ledger

Here we can create ledger using two methods,

1. Single ledger

2. Multiple ledger

Single ledger: -We use single ledger system if we have to give extra information or enable any feature.

Multiple ledger: -We use multiple ledger system if we just want to create ledgers without any extra info.

 

Multiple ledger

Purchase Accounts	All type of Purchase Accounts & Purchase return
Sales Account	All types of Sales Accounts & Sale Return
Duties and Taxes	All types of Taxes like, Excise Duty Payable, Service Tax Payable, TDS, Output Vat Accounts, CENVAT Accounts, Sale tax Payables, Input Vat Accounts, Income Tax, VAT Payable & GST.
Direct Expenses	All expenses which appear in Trading Account like: - Labor, Power, Electricity Expense (Factory), Loading Unloading Expense, Carriage, Freight & Cartage, Warehousing Expenses, Custom Clearing Charges, Wages on Production, Import duty, Wages, Coal & Fuel, Coal, Gas & Water of Factory, Consumed Material, Export Duty, Delivery Charges (In Purchase Bill)
Indirect Expenses	All Indirect Expenses like: - Rounded Off, Salary, Advertisement Expense, Bad Debts, Maintenance Expense, Rent Expense, Postage & courier, Repair charge, Printing Expense, Stationary Expense, Audit Fees, Professional Charges, Legal Expenses/Charges, Depreciation , Interest paid, Penalty, Bank charges, Commission allowed, Discount allowed, Donation & charity, Free sample, Insurance premium, Interest on loan paid, Legal charge, Loss by fire, Taxi fare, Telephone charge, Travelling expenses, Outstanding expenses, Accrued expenses, Bad debt, Loss on theft, depreciation, Coffee Expenses, Coke Expenses, Manager’s Commission, Fuel Expenses A/c, Liability of Expenses, Preliminary Expenses A/c, Professional Fees
Indirect Income	Discount Received, Interest on Investment, commission received, rent received or any other income other than goods.
Deposit Account	All types of deposits like, Rent Deposit
Capital A/c	All types of Capital Account like, Share Capital, Partner Capital Account, Partner Current Account, Proprietor Account, Drawings, Life insurance, Equity Capital A/c, Partners’ Capital A/c
Current Assets	Prepaid Maintenance Expense, Prepaid Expense, Prepaid Rent, Prepaid Insurance Charges, Interest Receivables, Bill receivable, Accrued income, Mutual Fund
Current Liabilities	Bill drawn, Bill Payable
Sundry Creditor	Any Party from Whom Goods Purchased, Party from Whom any Bill of Expense Received,
Loans and Advances (Assets)	Any Party to whom we gave loan like: - Loan Given to Friends Relatives/Related Companies, Any Party to whom we gave Advance, like Advance to Supplier
Loans Liabilities	Any Party from whom we take loan., We can also put group Secured loan or Unsecured loan, Debenture A/c, Loans from Bank, Loans from Outside Party, Loans from Aravind(Friend)
Fixed Assets	All Fixed Assets on which Depreciation charged like Furniture, Machine, Plant and Machinery, Mobile, Computers, Furniture and Fittings, Car, Scooter, Laptops, Office lighting, Land & Building, Good will, Factory lighting, Air Conditioner etc.
Bank OCC	Cash Credit Limit (CC) taken from bank
Bank OD	Overdraft Limit (OD) taken from bank
Bank Accounts	Indian Bank A/c, SBI Bank A/c
Branch/Divisions	Any Branch whose Separate Accounting Done, (If branch account maintained by head office only, then this account not required), Delhi Branch, Branch in division
Cash in Hand	Cash in business & balance of Petty Cash
Investments	All types of Investments like, Investment in Shares, Investment in Bonds, Investment in Property/Plot etc., Long term investment, Debtor name, Short Term Investment
Stock-in-hand	Stock, Closing Stock, Consignment Stock, Opening Stock
Misc. Expense (ASSET)	Preliminary Expenses, NOT yet written off
Suspense A/c	Suspense Account, any payment or receipt from party whose name not known Suspense
Secured Loan	Loans for whom Security Given, like loan from bank/ Financial Institution
Unsecured Loan	Loans taken for whom no Security given, Like Short term loan from directors or loan from friends /relatives
Reserve & Surplus	Any type of reserve like, General Reserve, Capital Reserve, Capital Reserve A/c, Investment Allowance Reserve A/c, Share Premium A/c, Reverse and Surplus
Provisions	All Provisions except Provisions for bad debts, Provision for Tax, Provision for Expense, Provision for Sinking Fund, All types of Payables like Salary Payable, Audit fees Payable,
Sundry Debtors	Any Party to Whom Sales Made and Provision for Bad Debts