https://help.tallysolutions.com/docs/te9rel64/Creating_Masters/Accounts_Info/Predefined_Ledgers_in_TallyERP.htm

Ledgers

A ledger is the actual account head to identify your transactions and are used in all accounting vouchers. For example, purchase, payments, sales, receipts, and others accounts heads are ledger accounts. Without a ledger, you cannot record any transaction.

All ledgers have to be classified into groups . These groups and ledgers are classified into profit and loss or balance sheet.

There are two pre-defined ledgers in Tally.ERP 9:

Cash ledger

Profit and loss account

Cash Ledger

Profit and Loss Ledger

The cash ledger is grouped under cash-in-hand.

The profit and loss account ledger is grouped under primary.

You can enter the opening balance as on the day the books begin.

The previous year's profit or loss is entered as opening balance of the ledger. The balance entered is the opening profit/loss. It is shown in the balance sheet as opening of the profit and loss account in the liabilities.

This ledger can be altered and deleted.

This ledger can not be deleted but it can be modified.

To know more, click the links below:

Displaying/Altering a Ledger Account

Current Liabilities/Assets Ledger

Duty and Taxes Ledger

Bank Ledger

Party Ledger

Expenses/Income Ledger

Ledger in Normal Mode