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Creating Expenses and Income Ledgers

You can select the income or expenses account group to create ledgers.

To create an expense ledger

1. Go to Gateway of Tally > Accounts Info. > Ledgers > Create .

2. Enter the name of the ledger in the Name field.

3. Select Indirect Expenses from the List of Groups in the Under field.

Note : Select Indirect Income from the List of Groups if you want to create an income ledger.

4. Set the option Inventory values are affected? to Yes if your company maintains a ccounts with inventory .

Th e expense Ledger Creation screen appears as shown below:

5. Press Ctrl+A to accept.

You can also enable cost centre options in expenses or income ledger.

To enable Cost Centres in the Ledger Creation screen

1. Go to Gateway of Tally > F11: Features > Accounting Features .

2. Set the option Cost/Profit Centres Management to Yes .

3. Set the option Cost centres are applicable? to Yes in the Ledger Creation screen, if any of the transactions have to be allocated to a particular cost centre.