In order to enter our business transactions first of all we must have the ledgers ready.  Because we will stop our work at Journal Entry in Tally and the rest of the work from Ledger Posting onwards will done by Tally.

Go Gateway of Tally–>Accounts Info–>Ledgers to create, view or modify the ledgers

In the Ledgers Menu we can have the following commands:

Single Mode: used to create, view or modify a single ledger at a time

Multiple Mode: used to create, view or modify number of ledgers without providing much details for the sake of faster entry and also for the ledgers belong to same group

For each company created 2 ledgers are automatically created by Tally:

Cash a/c

Profit & Loss A/c

Any Ledger in Tally should be a member of a particular group.

Ledger Creation Process:

Go Gateway of Tally–>Accounts Info–>Ledgers–>Single Ledger–>Create

The following screen will appear:

Every field in the above screen are optional except the Name and group of the ledger.

Fields in the above screen:

Name: name of the ledger that you want to create

Alias: alternate name of the ledger with which you want to access you ledger alternately when the name of the ledger is so long.

Under: select the accounting group for your ledger from this

The remaining options in this screen will change based on the selected group for your ledger.

Enter if any existing balance in the opening balance box at bottom.  You can also leave the field blank.

Press Ctrl+A to save your ledger.  If you are able to see a blank ledger creation screen again after you pressed ctrl+A without any error message, it means you have successfully created a ledger.

You can view your ledger profile details with two ways:

Single Ledger–>Display

Single Ledger–>Alter

You can view the profile details of any existing ledger using Display option but if you want to modify any details you have to use Alter option.

You can also create multiple ledgers at a time using Multiple Ledgers option. This option is useful when you want to create a list of ledgers comes under single group or different groups quickly and also to create list of ledgers with less details.

In multiple ledgers option, you cannot provide all the details for the ledger except name, group and opening balance.

Opening Multiple Ledgers creation screen:
Go Gateway of Tally–>Accounts Info–>Ledgers–>Multiple Ledgers–>Create
The following screen will appear:

You have to select the group name first for the list of ledgers that you want to create. If you want to create a list of ledgers under a single group then select the respective name from the group. If you want to create the list of ledgers under different groups then select ‘All Items’ from this.
Then enter the name of the ledger, select the group name(only if you have selected all items in the under group option) and enter opening balance (if any) and continue to enter your list of ledgers. Press Ctrl+A to save your list of ledgers.

Single and Multiple Ledgers methods are two different methods available to create ledgers in tally. You can create a ledger using any one of the methods and later you can view or modify those using other method.
For example, you have created Mr.X a/c under sundry creditors using multiple ledger mode later you can alter the ledger using single ledger, alter to set additional details.