In TallyPrime ledger account creation process is very simple. First we have to understand what is the ledger? Ledger is a record that tracks a business’s financial transactions and is used to create financial statements.

Without a ledger account you are unable to record any transaction in TallyPrime. For example, Purchase, Sales, Payments, Receipts, and others account heads are ledger accounts.

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All the ledgers accounts have to be classified under various related groups. These groups and ledgers are classified either in Profit and Loss or Balance Sheets. Cash and Profit and Loss accounts are already created in Tally Prime accounting software.

TallyPrime Ledger account creation process

Step 1: Go to Gateway of Tally (GOT) > In Master select Create option > type or select Ledger and press Enter.
You can also press ALT+G (Go To) > Create Master > type or select Ledger and press Enter.

Step 2: Name: Enter the name of the ledger account which you want to create in your active company.

Step 3: Alias: It’s an optional. but you can enter the alias of the ledger account, if required. You can access the ledgers using the original name or the alias name.

Alias is an optional name for the ledger accounts. You can create Alias either at the time of ledger account creation window or also can modify the respective ledger later as per your need. While selecting the ledger, you can choose the Alias name and the same ledger account gets selected.

Step 4: Under: Enter the group from the List of Groups under which the ledger is created. If you don’t have required group in list of options then you can create new group directly by pressing ALT+C shortcut key.

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If you create any debtors, creditors, sales, purchase, any fixed assets ledger account then you have to fill other required necessary details such as Statutory Details, HSN/SAC & Related Details, GST Rate & Related Details, Mailing Details, Banking Details and Tax Registration Details.

Opening Balance: When you create any asset, liability, bank account or alter cash ledger account then you have to put opening balance as per previous financial year detail. This one carry forward balance from the previous year as the opening balance.

Note: By pressing function key F12 you can active or hide different options as per your required. All the changes which you have done during the ledger account creation window by pressing F12 key will be applicable only in active company. If you don’t want to change any setting in F12 Configuration window then press ESC at any level.

After filling all the required detail press enter key or you can also quick save active ledger account by pressing CTRL+A shortcut key in TallyPrime.