How to Create a Ledger in TallyPrime: 5 Easy & Simple Steps

1. Access the Ledger Creation Screen:

• Method 1:
  • Press Alt+G (Go To) > Create Master > type or select Ledger > press Enter.

• Method 2:
  • Go to Gateway of Tally > Create > type or select Ledger > press Enter.

2. Fill in the Ledger Details:

• Name: Enter the name of the ledger (e.g., “Rent Expense”).
• Alias: Optionally, enter an alias for the ledger (e.g., “Rent”).
• Under: Select a group category for the ledger (e.g., “Indirect Expenses”).
• Inventory values are affected?: Choose Yes if the ledger is related to inventory, No if not.

3. Additional Fields (if applicable):

• Mailing Name: Enter the name to be displayed on vouchers and reports.
• Address: Enter the address for the ledger.
• Opening Balance: Enter the opening balance for the ledger.
• Income Tax Number: Enter the income tax number for the ledger (for tax-related ledgers).
• PAN/TAN/GSTIN Number: Enter the relevant tax identification number.
• Statutory Details: Enter any required statutory information.

4. Save the Ledger:

• Press Ctrl+A to accept and save the ledger.

5. Additional Information while Creating a Ledger in TallyPrime:

• Creating Ledgers from Transactions: You can also create ledgers directly from transaction screens by pressing Alt+C in the relevant field.
• Creating Multiple Ledgers: To create multiple ledgers at once, use the Multiple Ledger Creation option under Gateway of Tally > Accounts Info. > Ledgers.
• Customizing Ledgers: You can customize ledgers by adding or removing fields, setting defaults, and configuring other options.