How to Create New Ledger in TallyPrime Software

Tally Prime a ledger is an actual account which is used for identify business transactions and in all accounting vouchers. For example, purchase, payments, sales, receipts, and others account heads are ledger accounts.   Step 1- Click on Create   Step 2- Click on Ledger   Step 3- After click you will see like something

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How to create new Ledger’s Group Creation excluding 28 predefined

Creating ledger’s groups in Tally Prime is a straightforward process. Here are the steps to create a ledger’s group: 1. Open Tally Prime and go to the Gateway of Tally. 2. Click on the “Create” option in the Gateway of Tally. 3. Click on the “Group” option. 4. Create a new ledger group. 5. In

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28 Predefine Groups in Tally Prime ?

What is Ledger’s Group in Tally Prime? Account Groups in Tally Prime are collection of ledgers of the similar nature. Account groups are helpful in maintaining and determining the hierarchy of Ledger Accounts. Groups are particularly helpful in creating compliant reports. Tally Prime has already set 28 pre-defined Groups in Tally. Method 1 for see

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Basic Concept of Accounting

  Accounting forms the backbone of every business, enabling efficient management of finances and decision-making. Understanding the basic concepts of accounting is crucial for anyone learning TallyPrime, as it serves as the foundation for all financial record keeping and transactions.   1. What is Accounting? Accounting is the process of recording, classifying, summarizing, and interpreting

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Journal Entries in Accounting Example

 , journal entries are the initial step in recording financial transactions. A journal entry involves debiting one or more accounts and crediting one or more accounts in accordance with the golden rules of accounting. These rules ensure that each transaction is recorded correctly and the accounting equation remains balanced.   1. Golden Rules of

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What is Accounting in Tally?

 Definition of Accounting Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business. Accounting is a systematic recording day to day business transaction is called as accounting. Accounting is the process of identifying, recording, classifying and reporting information on financial transactions in a systematic manner for the purpose of providing

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How to Delete a Company in TallyPrime: Step-by-Step Guide

TallyPrime allows you to delete a company if it’s no longer needed. However, deleting a company permanently removes its data from your system, so proceed with caution. This guide explains how to delete a company in TallyPrime step by step. Ensure you are on the Gateway of Tally screen. Step 1- Press F3 (Company) on

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