Ledger creation is defined by the F11: Features and F12: Configure settings that you have made for a company.
To create single ledger in normal mode
1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create (Single Ledger). The Ledger Creation screen appears as shown below:
2. Enter the Name of the ledger account. Duplicate names are not allowed.
3. Enter the alias of the ledger account, if required. You can access the ledgers using the original name or the alias name.
4. Select a group category from the List of Groups.
Note: To create a new group from this field, press Alt+C.
You can alter a ledger account to change its group classification at any time. See Importance of Grouping and Accounting Classifications for more details.
5. Enter the Opening Balance. The opening balance is applicable when the ledger is an asset or a liability, and also if it has a balance in the account as on the date of beginning of books.
Note: For an existing company,debit balances for assets and credit balances for liabilities are applicable. You can enter balances for accounts that have obverse balances such as revenue accounts. For example, you may have transferred your books to Tally.ERP 9 in the middle of the year and may not have closed them in your earlier system. Hence, you must specify debit or credit for the balance.
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