How to Create Expense Ledger in Tally Prime?

Step: GOT > Create > Ledger

Ø In ledger screen fill all details for Expense ledger like,

· Name – Type name of Expense like I type “Rent on Land”

· Under – Select “Indirect Expense”

· Is TDS applicable – Select ‘Applicable’ for TDS deduction

· Nature of Payments – Select Nature of Payments for Rent on Land like I select “Rent for land and building/Furniture & fixture”.

Ø Fill all above details like following screenshot:

TDS & TCS in Tally Prime

Ø Press Ctrl+A to save this screen

Ø Practice Exercise for Create Expense Ledger, for You

Name

Under

Is TDS applicable

Nature of Payment

Audit fees

Indirect Expense

Applicable

Professional fees

Horse Race

Expense

Indirect Expense

Applicable

Winning from Horse

race

· Process 4: Create Deductee Ledger to Paid Expense