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How to create Drawings Account Ledger in Tally.ERP 9?

In business withdraws of Cash or from Bank for personal use of the business owner is considered as Drawings and worth of such transaction should be debited to the Capital Account. In general practice we use the Drawings Account Ledger for such transactions and in Tally.ERP 9 Accounting Software we can create Ledger for Drawings Account.

How to create Drawings Account Ledger in Tally.ERP 9?
Drawing Account Ledger

In Tally.ERP 9 we can create an Account Ledger for Drawings and there is a specific Account Ledger Group available. At the time of Balance Sheet preparation the Drawings will be directly deducted from the Capital Account in the Liabilities side.

In order to create Drawings Account Ledger, go to the Ledger Creation screen. In the Ledger Creation screen

  1. Enter Drawings Account in the Name field.
  2. In the Under field select Capital Account from the List of Groups

And accept the screen to create the Drawings Ledger and this is how to create Drawing Account ledger in Tally.ERP 9.

is the founder of AccountsGuy.Net with the view of providing Accounting and Technical support using Accounting package Tally ERP 9, and Office Tools to the people. I write articles on Accounts, Blogging, Computer Operating, and technical issues and some of my experiences on them for students, beginners. Follow our Networks or sing-up for the email newsletter below for your daily dose of Tips and Tricks.
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{ 4 Comments... read them below or add one }

Peratchi Selvam said...

Hello Sir, My doubt is Which method is followed by most companies in Tally whether Single entry or double entry?

Venkkatesh K said...

It is based on the Data Operator understanding for faster data entry it is better to go with Single Entry otherwise you can go with Double Entry System in Tally.ERP 9.

Juma Othman said...

Hello sir, I would like to know accouny for corporate tax using tally

Venkkatesh K said...

Regarding Corporate Tax in Tally what do you wanted to do? Ask your query in details.

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