Creating Purchase and Sales Ledgers

Purchase or sales ledgers are required for trading, repacking or in manufacturing products. Sales and purchase account groups are revenue accounts and are used in the profit and loss account.

To create a purchase/sales ledger

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

The Ledger Creation screen appears as shown below:

  1. Select Yes for the option Inventory values are affected? if your company maintains accounts with inventory.

Note:You can link inventory with accounts like customs duty, or direct expenses related to purchases such as freight inwards.

Cost Centre options

To get the option Cost centers are applicable? in the Ledger Creation screen, you have set the option Maintain cost centres to Yes in F11: Features (F1:Accounting Features).