What is a Ledger in TallyPrime? How to Create a New Ledger

A Ledger is the most basic accounting unit where all transactions are recorded. Every debit or credit entry you pass in your business goes to a ledger. In simple words, a Ledger in TallyPrime is a master record where all accounting transactions related to a specific account are recorded.

Whether you’re recording sales, purchases, cash payments, or bank transactions — you’ll always use ledgers. Think of a ledger as a notebook where you write down all financial movements related to a particular customer, supplier, income, expense, asset, or liability.

A Ledger is an individual account used to record all transactions related to that particular account. It can be related to:

• Assets (e.g., Cash, Bank A/c)
• Liabilities (e.g., Loan Payable)
• Income (e.g., Sales, Commission Received)
• Expenses (e.g., Rent Paid, Office Expenses)

Each ledger belongs to a Group (like Sales, Purchase, Bank Accounts, etc.), which helps Tally organize financial reports correctly.

Method 1: From Gateway of Tally

1. Open TallyPrime and select your company.
2. From Gateway of Tally, go to:
   Got> Create > Ledger
3. You will now see the Ledger Creation screen.
4. Fill in the following details:

5. Press Ctrl + A to save.

Step 1- Click on Create

 

Step 2- Click on Ledger

 

Step 3- After click you will see like something as shown below image, here you need to fill the account information –

 

Step 4- Ledger Creation –

• Ledger Name – Account Name
• Under – Choose Right Group for you ledger
• Other – Related Info

 

Customer Ledger Creation –

• Ledger Name / Account Name – Customer’s Name
• Under – Sundry Debtor
• Maintain bill by bill – Yes

 

Sales A/c Ledger Creation –

• Ledger Name / Account Name – Sales A/c
• Under – Sales Accounts

Suplier’s Name Ledger Creation –

• Ledger Name / Account Name – Supplier’s Name
• Under – Sundry Creditors
• Maintain bill by bill – Yes

 

Purchase A/c Ledger Creation –

• Ledger Name / Account Name – Purchase A/c
• Under – Purchase Accounts

Result – here you can created ledger

 

Method 2: Create Ledger While Entering a Voucher

While entering any voucher (e.g., Payment, Receipt, Sales), if you type a new name in the Ledger field:

• Press Alt + C to create the ledger directly.
• Tally will open the same Ledger Creation screen.
• Fill in the details and save.

Assignment

📚 500 Popular Ledger Names in TallyPrime

(With Group, Type of Account, and Accounting Classification)