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List of Ledgers for a new company in Tally ERP9

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Here in this post I am trying to provide all the list of ledgers required for a new company opened in Tally ERP 9.This post is exclusively for beginners who doesn’t know how to start  with and what are the Ledgers required for a newly started business. In this Table I have tried to put all ledgers under right groups so as to get an accurate business result and Balance sheet.

Not all ledger are required by every business ,select the a few ledgers a which are absolutely

Ledger NamePlace Under Group in TallyComments
Capital AccountCapital AccountFor Partner
Cash AccountCash-In-Hand
Partners /Owners Drawings A/cCapital AccountIn a registered company no withdrawal is allowed,Hence no Drawing account
Interest On CapitalIndirect Expense
Bank AccountBank AccountFor current account ,or saving account Create In the name of Bank: For example : SBI A/c No: 321222
Bank OD AccountBank OD A/c or Bank OCC A/cYou can put any of the group mentioned. This is a current liability account.
Customer LedgerSundry DebtorsParty means to whom we are selling. Eg: JOHNSON TRADERS
Supplier LedgerSundry CreditorsThe party who are supplying goods to us or the party to whom we owe money.
Loan AccountLoans (Liability)For example If you take loans from a Private finance Create a LEDGER : L & T Financial Services Loan A/c No: 1256 For Banking Institution :For Eg: ICICI Bank Loan a/c No: 4656556
Prepaid InsuranceCurrent AssetsTo account the insurance paid for the next Financial year.
Income Tax AdvanceCurrent Assets
TDS PaidCurrent Asset
TCS PaidCurrent Asset
SalesSales AccountTo account the sale of goods and services
Freight ReceivedIndirect IncomesTo account the freight charges received from customers. Eg: Transportation using Lorry
Sale of Scrapsales or Indirect IncomeTo account the sale of old machinery.Remember this type of sale attract VAT.News paper sale or carton box sale can be accounted as Indirect Income
Opening StockStock-In-Hand
Purchase Purchase Account
Closing StockStock-In-Hand
Salary AccountIndirect ExpenseVary in relation to the nature of business, Some time salary account termed as direct expense.
Wages AccountDirect Expense
Directors RemunarationIndirect Expense
Partners salaryIndirect Expense
Interest on loanIndirect Expense
DepreciationIndirect Expense
AmortisationIndirect Expense
Diesel ExpenseDirect expense/ Indirect ExpenseRelatively change the ,group, for example ,Diesel for a machinery in a manufacturing company is direct expense, diesel for a motor car for travelling of manager is indirect expense.
Repair & MaintenanceDirect Expense
Freight PaidDirect ExpenseFreight paid for the purchase of materials for selling or manufacturing
Audit FeeIndirect Expense
InsuraceIndirect Expense
Local ConveyanceIndirect Expense
Miscellaneous ExpenseIndirect Expense
Rates & TaxesIndirect Expense
Round offIndirect Expense
Printing & StationeryIndirect Expense
Travelling ExpenseIndirect Expense
Vehicle ExpenseIndirect Expense
Telephone ChargesIndirect Expense
Advertising chargesIndirect Expense
Discount AllowedIndirect Expense
Compound Tax PaidIndirect Expense
Courier ChargesIndirect Expense
Interest on Income TaxIndirect Expense
Interest on VATIndirect Expense
Interest on TDSIndirect Expense
Interest on TCSIndirect Expense
Land A/c Fixed Asset
BuildingFixed Asset
Plant & MachineriesFixed Asset
Motor VehiclesFixed Asset
Furniture & FixturesFixed Asset
Audit Fee PayableProvisions
Salary PayableProvisions
Wages PayableProvisions
TDS PayableProvisions
TCS PayableProvisions
Compound tax payableProvisions
Income Tax PayableProvisions
Telephone charges PayableProvisions
Petty Cash A/cCash-In-Hand
Computer & PeripharalsFixed Asset
Purchase Return AccountPurchase Account
Sales Return AccountSales Account
Discount ReceivedIncome Indirect
Share Capital A/CCapital Account
Generel Reserve A/cReserves & Surplus
Capital Reserve A/cReserves & Surplus
Sales Tax A/cDuties & Tax
Output VatDuties & Tax
Input VatDuties & Tax
TDS AccountDuties & TaxEg: TDS on Interest
TCS AccountDuties & TaxEg: TCS on Motor vehcile
Excise DutyDuties & Tax
CST A/cDuties & Tax
Service taxDuties & Tax
Rent PayableProvisions
NSC DepositsDeposits
Investment in ShareInvestment
Fixed DepositsDeposits
GoodwillCurrent Asset
Bills ReceivableCurrent Asset
Bills PayableCurrent Liabilities
Salary AdvanceLoans & Advances (Asset )
Outstanding ExpenseCurrent Liabilities
Factory LightingDirect Expense
Import DutyDirect Expense
RoyaltyDirect Expense
Long Term InvestmentFixed Asset
Bad Debt RecoveredIncome Indirect
Donation & CharityIndirect Expense
Loss by fireIndirect Expense
Loss By theftIndirect Expense
Legal ChargesIndirect Expense
Bad DebtsIndirect Expense
Accrued IncomeCurrent Asset

This list is not comprehensive, You can suggest to add new items to the table.

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