Ledger Creation

Ledger Creation : (Lab 1 )

1.Create the following Ledgers with out Opening Balance :- Salary Expenses,Reshma & Co (Supplier Name ),Wages

Steps :

1.Create a new company named goldenjrs & co as per the following company details

Name : Goldenjrs & Co

Maintain : Accounts Only

Statutory Complaince For : India

State : Tamilnadu

Financial Year From : 1-4-2010

Book Beginning From :1-4-2010

2.After Company Creation > In GateWay of Tally > Go Accounts Info (Under Master) > Ledgers > Single : Create >


3.Press F12 >

Allow Aliases along with names > No

Allow Advanced entries in Master > No

4.Press CTRL + A to Accept Ledger Configuration Window

5.

Name : Salary Expenses (Type the ledger Name in Name Field & Press Enter)

Under : Indirect Expenses(Type it > Indir & Press Downarrow & Select suitable Group in Under Field & Press Enter)

Opening Balance (On 1-Apr-10) : (Press Enter Twice (Accept:Yes))

6.Create the Next Ledger same As Above....

Name : Reshma & Co

Under : Sundry Creditor(Type it > Sun & Press Downarrow & Select suitable Group in Under Field & Press Enter)

Maintain Balance Bill By Bill : No ( Press N in this Field & Press Enter)

Opening Balance (On 1-Apr-10) : (Press Enter Twice (Accept:Yes))

7.Press CTRL + Q or Escape to View Gateway of Tally9

2.Create the following Ledgers with Opening Balance :-

i)Bank Charges - Rs.120 ii)Advertising Expenses : Rs.500 iii)Building Cost : Rs.75000 iv)Opening Stock - Rs.12000

Steps :

1.In GateWay of Tally > Go Accounts Info (Under Master) > Ledgers > Single : Create >

2.

Name : Bank Charges

Under : Indirect Expenses

Opening Balance (On 1-Apr-10) : 120

3. ( Press CTRL + A to Accept or Press Enter Twice)


4.

Name : Advertising Expenses

Under : Indirect Expenses

Opening Balance (On 1-Apr-10) : 500

4.(Press CTRL + A to Accept or Press Enter Twice)

5.

Name : Building Cost

Under : Fixed Asset

Opening Balance (On 1-Apr-10) : 75000

6.(Press CTRL + A to Accept or Press Enter Twice)

7.

Name : Opening Stock

Under : Stock in Hand

Opening Balance (On 1-Apr-10) : 12000

8.(Press CTRL + A to Accept or Press Enter Twice)

3.Create the following Ledgers with Opening Balance using Multiple Mode (Note : Multiple Ledgers in Same Group )

i)Furniture ii)Electrical Fittings iii)Computer iv)Printer v)Staff Quarters v)Bike

Steps :

1.In GateWay of Tally > Go Accounts Info (Under Master) > Ledgers > Multiple : Create >

2.

Under Group : Fixed Assets (Select it)

---

S.No	Name of Ledger	Under	Opening Balance :
1.	Furniture (Enter Twice)	Fixed Assets
2.	Electrical Fittings (Enter Twice)	Fixed Assets
3.	Computer (Enter Twice)	Fixed Assets
4.	Printer (Enter Twice)	Fixed Assets
5.	Staff Quarters (Enter Twice)	Fixed Assets
6.	Bike(Enter Twice)	Fixed Assets

3. ( Press CTRL + A to Accept or Press Enter Twice)

4.Create the following Party Ledgers with Opening Balance

i)
Party Name: Muthu Traders Type of Party: Customer - Sundry Debtor Balance: 10000 Dr

Bill Details of 10000

Bill No : 1001 Date:1-Mar-10 Amount : 5000

Bill No : 1002 Date:1-Mar-10 Amount : 5000


ii )
Party Name: Ramani Traders Type of Party: Supplier - Sundry Creditor Balance: 25000 Dr

Bill Details of 25000

Bill No : R001 Date:2-Mar-10 Amount : 15000

Bill No : R002 Date:1-Mar-10 Amount : 5000

On Account : 5000 ( Bill Not Received)

Steps :

1.In GateWay of Tally > Go Accounts Info (Under Master) > Ledgers > Single : Create >

2.Verify it : Press F11 >Press F1 for Accounting Features> Maintain Billwise Details : Yes...

3.Press CTRL + A

4.

Name : Muthu Traders

Under : Sundry Debtor

Maintain Balance Bill by bill : Yes

Default Credit Period : (Just Press Enter)

Opening Balance (On 1-Apr-10) : 10000 Dr.

Date	Name	Due Date	Amount	Dr/Cr
-----------------------------------------------------------------------------------------------
1/3/2010	1001	1-Mar-10 (Just Press Enter)	5000	Dr
1/3/2010	1002	1-Mar-10 (Just Press Enter)	5000	Dr
(Just Press Enter)

5. ( Press CTRL + A to Accept or Press Enter Twice)



6.

Name : Ramani Traders

Under : Sundry Creditor

Maintain Balance Bill by bill : Yes

Default Credit Period : (Just Press Enter)

Opening Balance (On 1-Apr-10) : 10000 Cr.

Date	Name	Due Date	Amount	Dr/Cr
-----------------------------------------------------------------------------------------------
1/3/2010	R001	1-Mar-10 (Just Press Enter)	15000	Cr
1/3/2010	R002	1-Mar-10 (Just Press Enter)	5000	Cr
(Just Press Enter)

7. ( Press CTRL + A to Accept or Press Enter Twice)

6.Alter the following Ledgers

i)Bank Charges - Rs.500

Steps :

1.In GateWay of Tally > Go Accounts Info (Under Master) > Ledgers > Single : Alter >

2.Select Bank Charges & Press Enter ( Type Bank > Press Down or Up Key & Select )

3.Press Enter Again & Again upto Entered in Opening Balance Field.

4.Change amount 120 to 500 & Accept it.

5.Press CTRL + Q or Escape to View GateWay of Tally9

7.Delete the following Ledgers

i)Bank Charges

Steps :

1.In GateWay of Tally > Go Accounts Info (Under Master) > Ledgers > Single : Alter >

2.Select Bank Charges & Press Enter ( Type Bank > Press Down or Up Key & Select )

3.In Ledger Alteration Screen > Press ALT + D To Delete Ledger > Press Y to Delete
5.Press CTRL + Q or Escape to View GateWay of Tally9

8.To View All Ledgers

Steps :

1.In GateWay of Tally > Go Accounts Info (Under Master) > Ledgers > Multiple : Display >

2.Select All Items & Press Enter
5.Press CTRL + Q or Escape to View GateWay of Tally9

9.To Create a New Ledger in Voucher Entry Screen.Make the following Journal Entry

Hari Started a Business with Amount Rs.200000.

Steps :

1.In GateWay of Tally > Go Accounting Voucher or Press V

2.Press F7

3.Verify : Press F12 > Use/Cr instead of To/By during Entry : Yes
Allow Cash Accounts in Journals : Yes

4.

	Particulars	Debit	Credit
Dr	Cash A/c	200000
Cr	Press ALT + C > Name : Hari Capital A/c Under : Capital A/c > CTRL + A		200000

5.You can View this Ledger > Go Gateway of Tally9> Accounts info > Ledger > Display > See Hari Capital A/c

10.See the Following Video......for Above Examples...

List of Ledgers

S.No	Ledger Name	Under : Group
1	Arjun Capital A/c	Capital A/c
2	Arjun Drawing A/c	Capital A/c
3	Supplier Name	Sundry Creditor
4	Customer Name	Sundry Debtor
5	Cash A/c	Cash in Hand
6	Petty Cash A/c	Cash in Hand
7	Furniture A/c	Fixed Asset
8	Computer A/c	Fixed Asset
9	Building A/c	Fixed Asset
10	Purchase A/c	Purchase A/c
11	Cash Purchase A/c	Purchase A/c
12	Credit Purchase A/c	Purchase A/c
13	Purchase-Soap A/c	Purchase A/c
14	Purchase Return /c	Purchase A/c
15	Sales A/c	Sales A/c
16	Cash Sales A/c	Sales A/c
17	Credit Sales A/c	Sales A/c
18	Sales Soap A/c	Sales A/c
19	Sales Return A/c	Sales A/c
20	Trade Discount on Purchase	Purchase A/c
21	Trade Discount on Sales	Sales A/c
22	Cash Discount Received	Indirect Income
23	Cash Discount to Customer	Indirect Expenses
24	Telephone Expenses	Indirect Expenses
25	Salary A/c	Indirect Expenses
26	Wages A/c	Direct Expenses
27	Fuel Expenses A/c	Direct Expenses
28	Power Expenses A/c	Direct Expenses
29	Overhead Expenses A/c	Direct Expenses
30	Fees Received	Direct Incomes
31	Interest Received	InDirect Incomes
32	Share Capital A/C	Capital A/c
33	Equity Capital A/c	Capital A/c
34	Partners Capital A/c	Capital A/c
35	Generel Reserve A/c	Reserves & Surplus
36	Capital Reserve A/c	Reserves & Surplus
37	Investment Allowance Reserve A/c	Reserves & Surplus
38	Share Premium A/c	Reserves & Surplus
39	Indian Bank A/c	Bank OD A/c
40	SBI Bank A/c	Bank A/c
41	Debenture A/c	Secured Loans A/c
42	Loan From Bank	Secured Loans A/c
43	Loan From Outside Party	UnSecured Loans A/c
44	Loan From Aravind(Friend)	UnSecured Loans A/c
45	Sales Tax	Duties & Taxes A/c
46	Output Vat 4%	Duties & Taxes A/c
47	Output Vat 12.5%	Duties & Taxes A/c
48	Input Vat 12.5%	Duties & Taxes A/c
49	TDS on Rent	Duties & Taxes A/c
50	Excise Duty A/c	Duties & Taxes A/c
51	All Tax A/c	Duties & Taxes A/c
52	Provison for Bad Debts	Provisions
53	Salary Payable A/c	Provisions
54	Rent Payable a/c	Current Liabilities
55	Liabilty of Expenses	Current Liabilities
56	Investment in Share	Investments
57	Stock in Hand	Stock in Hand
58	Stock of Raw Meterials	Stock in Hand
59	Fixed Deposits	Deposits(Asset)
60	Security Deposit A/c	Deposits(Asset)
61	Telephone Deposit A/c	Deposits(Asset)
62	Deposit in Other Company	Deposits(Asset)
63	Loans to Employees	Loans and Advances(Assets)
64	Kovai Branch A/c	Branch/Divisons
65	Preliminary Expenses A/c	Misc.Expenses(Asset)
66	Professional Fees	Sales A/c
67	Commission Received	Direct Income
68	Delivery Charges(In Purchase Bill)	Purchase A/c
69	Depreciation A/c	Indirect Expenses
70	Carriage Inwards	Direct Expenses
71	Carriage Outwards	InDirect Expenses
72	Frieght Charges	Direct Expenses
	Another Examples
1	Share Capital A/c	Capital Account
2	Proprietor Capital A/c	Capital Account
3	Santha Capital A/c	Capital Account
4	General Reserve A/c,	Reserves and Surplus (Retained Earnings)
5	Capital Reserve A/c	Reserves and Surplus (Retained Earnings)
6	Share Premium A/c	Reserves and Surplus (Retained Earnings)
7	Profit and Surplus Reserve A/c	Reserves and Surplus (Retained Earnings)
8	Revaluation Reserve A/c	Reserves and Surplus (Retained Earnings)
9	Bank OD A/c	Bank OD Accounts
10	SBI Bank OD A/c	Bank OD Accounts
11	SBI Secured Loan A/c	Secured Loans
12	Loan from Aswin Finance	Secured Loans
13	Loan from Ganesh	Unsecured Loans
14	Loan from Umesh	Unsecured Loans
15	Deposit Received From Iman A/c	Unsecured Loans
16	Liabilities for Expenses,	Current Liabilites
17	Employee Contribution for ESI	Current Liabilites
18	PF A/c	Current Liabilites
19	TDS Realized from Contractor	Current Liabilites
20	TDS Realized from Employee	Current Liabilites
21	Sales Tax A/c	Duties and Taxes
22	CST A/c	Duties and Taxes
23	Excise Duty 10% A/c	Duties and Taxes
24	Input Vat A/c	Duties and Taxes
25	Output Vat A/c	Duties and Taxes
26	Additonal Tax A/c	Provisions
27	Leave Encashment A/c	Provisions
28	Pension Scheme A/c	Provisions
29	Proposed dividends	Provisions
30	Nantha Pvt Ltd A/c	Sundry Creditors
31	Ganesh Pvt Ltd A/c	Sundry Creditors
32	Supplier A/c	Sundry Creditors
33	Creditor A/c	Sundry Creditors
34	Bike A/c ,	Fixed Assets
35	Lorry A/c	Fixed Assets
36	Office Building A/c,	Fixed Assets
37	Computer A/c,	Fixed Assets
38	Furniture A/c,	Fixed Assets
39	Land A/c	Fixed Assets
40	Equity Share A/c	Investments
41	Kisan Vikas Pathra A/c	Investments
42	Savings Bonds A/c	Investments
43	National Saving Certificates (NSCs)	Investments
44	Stock of Raw Materials A/c	Stock In Hand
45	Stock of Finished Goods A/c	Stock In Hand
46	Stock of Pipe A/c	Stock In Hand
47	SBI Fixed Deposit A/c	Deposits(Assets)
48	Sales Tax Deposit A/c	Deposits(Assets)
49	Telephone Deposit A/c	Deposits(Assets)
50	Rent Deposit A/C	Deposits(Assets)
51	Electricity Deposit A/c	Deposits(Assets)
52	Advance to Supplier A/c	Loans and Advances (Assets)
53	Advance Salary A/c	Loans and Advances (Assets)
54	advance to rama pvt ltd (supplier)	Loans and Advances (Assets)
55	Customer A/c	Sundry Debtors
56	Rayal Traders A/c	Sundry Debtors
57	Advance received from Customer	Sundry Debtors
58	Cash in Hand	Cash in Hand
59	Petty Cash A/c	Cash in Hand
60	Cash at Bangalore Branch A/c	Cash in Hand
61	State Bank of India A/C	Bank Accounts
62	Indian Bank A/C	Bank Accounts
63	West Mambalam Branch	Branch/ Divisions
64	Madurai Branch A/c	Branch/ Divisions
65	Preliminary Expenses A/c,	Misc.Expenses (Asset)
66	Advance Paid to Travelling Expenses A/c After received Travelling Allowance bill from concern person , above ledger should be changed to indirect expenses group	Suspense A/c
67	Sales of Pipe A/c	Sales A/c
68	Export Sales A/c	Sales A/c
69	Sales @ 10%	Sales A/c
70	Sales A/c	Sales A/c
71	Sales Return A/c	Sales A/c
	for servicing companies………………..
72	Professional Charges A/c	Sales A/c or Direct Income
73	Consulting Fees A/c	Sales A/c or Direct Income
74	Service Charges A/c	Sales A/c or Direct Income
75	Professional Charges A/c	Direct Income
76	Rent Received A/c	Indirect Income
77	Interest Received A/c	Indirect Income
78	Commision Received A/c	Indirect Income
79	Purchase A/c	Purchase A/c
80	Purchase Return A/c	Purchase A/c
81	Cash Purchase A/c	Purchase A/c
82	Credit Purchase A/c	Purchase A/c
83	Frieght Charges A/c (if inluded in purchase bill )	Purchase A/c
84	Delivery Charges A/c  (if inluded in purchase bill )	Purchase A/c
85	Postage Charges A/c(if inluded in purchase bill )	Purchase A/c
86	Sales Tax Charges A/c(if inluded in purchase bill )	Purchase A/c
87	Carriage inwards A/c	Direct Expenses
88	Wages A/c	Direct Expenses
89	Telephone Charges A/c	Indirect Expenses
90	Bank Charges A/c	Indirect Expenses
91	Rent Charges A/c	Indirect Expenses

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