How many ledgers in tally

All accounts combined together make a ledger book. Predominantly there are 3 different types of ledgers; Sales , Purchase and General ledger. A ledger is also known as the principal book of accounts and it forms a permanent record of all business transactions.

It is a grouping of all accounts related to customers to whom goods have been sold on credit Credit Sales. Sum of all the money owed to a business by their customers is shown here and is termed as Accounts Receivable , Trade Debtors or Sundry Debtors. The accounts are mostly arranged in alphabetical order, however, nowadays all the ledger accounts are maintained with the help of accounting ERPs.

It is a grouping of all accounts related to sellers from whom goods have been purchased on credit Credit Purchases. Sum of all the money owed by a business to their sellers is shown here and is termed as Accounts Payable, Trade Creditors or Sundry Creditors. After maintaining all the required details, choose Yes option under Accept to save the configured details in Tally. ERP 9. After creation of single ledger account in Tally, you view the details of ledger by choosing the option display. Refer below steps how to display single ledger.

Continue to read: How to create multiple ledgers in Tally. Learn Tally. Tally - How to Start Tally. Tally - Screen Components.

Tally - F Configurations. Python Turtle. Verbal Ability. Interview Questions. Company Questions. Artificial Intelligence. Cloud Computing. Data Science. Angular 7. Machine Learning. Data Structures. Operating System. Computer Network. Explanation: When we need to create 1 or 2 ledgers, we can create it with the help of the Single Ledger option.

On the other hand, when we need to create more ledgers, we can create it easily with the help of an option called Multiple Ledgers. Name : The first box is the Name of the ledger. This type of ledger creation is also not useful for creating Sundry debtors ledger and sundry creditors ledger as we have to also fill up GST details of individual creditors and debtors while creating ledger account for them. It is totally up to the decision of users to create ledgers using single ledger or multiple ledger method because that totally depends on the requirements.

Only one important thing to note is that we get more details while creating ledgers under the Single Ledger Method as compared to Multiple Ledger Method. Because in Multiple Ledger Method, there are no options such as:. For this, we have to edit the ledger individually while passing the accounting entries or we can go to each ledger and edit them.

In short, choose the method wisely to save your time and money.