Tally.ERP 9 gives you great flexibility in setting up your chart of accounts. It allows you to group your ledger accounts right at the time of creating your accounts chart. Your reports and statements reflect the desired classification at all times.
List of accounts displays the existing chart of accounts, listed as groups, in alphabetical order.
To view list of accounts:
Go to Gateway of Tally > Display > List of Accounts
You can Drill down to a ledger name to alter its details by pressing enter.
At the highest level, accounts are classified into Capital or Revenue – and more specifically into Assets, Liabilities, Income and Expenditure. Alternatively use the keys Shift+Enter from the group head to reduce the details.
To record detailed transactions, you have to add further ledgers, groups and sub-groups of your choice.
The ledgers in the Books of Accounts affect assets, liabilities, income or expenses. Tally.ERP 9 can generate a Profit & Loss account and a Balance Sheet immediately after a transaction has been entered. It can also generate a range of comprehensive financial statements and reports.