Practice Exercise /Solution

Practice Exercise 
Two of the nine ledger accounts will be created by us. As a practice exercise you will be creating the remaining seven ledgers 

1. Proprietor's Capital Account under Capital Account with an opening balance of Rs. 25000 

• Enter Name as Proprietor's Capital Account 
• Select Capital Account from the List of Groups 
• Enter 25000 in the Opening Balance (on 1-Apr-2010) field.
• Press Y or Enter to accept the screen. 

Notice that Tally ERP 9 automatically capitalists the first letter for you 
2. Land & Building under Fixed Assets with an opening balance of Rs.60000 

• Enter Name as Land & Building 
• Select Fixed Assets from the List of Groups 
• Enter 60,000 in the Opening Balance (on 1-Apr-2010) field.
• Press Y or Enter to accept the screen. 

Tally ERP 9 displays the total debit and credit opening balances while the ledgers are being created in the Ledger Creation screen. This is to avoid differences in the opening balance. So far, we have used the default groups provided in Tally, ERP 9, but Tally ERP 9 does allow us to create our own groups. To know how to do so, let us explore the options available under t creation of Groups using Tally ERP 9's pre-defined groups. 

Groups can be created in the following manner 
Go to the Gateway of Tally> Accounts Info. > Groups. 
The Groups menu appears as shown below:


N.B
You an create one group at a time by pressing Enter on Create under single Group menu in case, you want to create multiple groups simultaneously you can create them by pressing Enter on Create under Multiple Groups. 

Create the following Sundry Debtors Ledger accounts 

• Groups -North Delhi Debtors and Bhopal Debtors under North India Debtors. 
• Mysore Debtors and Secundrabad Debtors under South India Debtors. 
• Renison & Co and Milton & Co grouped under North Delhi Debtors. 

Solution 
The solution is to first create two sub-groups North India Debtors and South India Debtors under Sundry Debtors.
Go to the Gateway of Tally>Accounts Info. > Groups> Create. Enter Name as North India Debtors 
Against the field Under select Sundry Debtors from the List of Groups. 

The Group Creation screen appears as shown below.