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Inventory Masters
Stock group
Stock Groups in
Tally
Stock groups in Inventory are
similar to groups in accounting master. Stock groups in tally helps in
classification to stock items according to their behavior. The grouping of
stocks in tally enables to identify and report in statements as per stock wise.
Similar stocks can be are grouped under stock groups according their
characteristics, brand, product type, etc.
Examples of Stock Groups
shop sells mobiles and Music system. Below are the structure of stock items that being sold.
Group A Mobile
|
|
iphone
| iphone 8 4.7inch |
iphone 8 plus 5.5 inch
|
|
Samsung
|
Galaxy 8 5.8 inch
|
Galaxy 8 plus 6.2 inch
|
|
google pixel
|
pixel 2 5 inch
|
pixel 2 plus 6 inch
|
|
In above example, all the laptops
and Pc’s are grouped under computers and main stock group computer will be
created in tally.
Group B – Music System
|
|
Sony
|
Blue Ray Player
|
DVD player
|
|
In above examples, music products
are grouped under music system and main stock group music system will be created
in Tally.
How to open Stock groups in
Tally ERP 9
Step – 1: Gateway of Tally >
Inventory Info.
After opening the Tally
application, from the Gateway of Tally screen choose the inventory info under
Master tab.
Step 2: Next under Inventory
Information, displays list of inventory masters where you can maintain
inventory master data.
1. Stock groups
2. Stock Categories
3. Stock items
4. Unit of Measures
5. Godown
6. Voucher Types
7. Copy Allocation details
To work with stock groups in tally,
click on stock groups option.
Step 3: Under stock groups, it
display two types of stock groups
1. Single stock group
2. Multiple stock group
From this screen, you are allowed
to create, display and modify single stock group and multiple stock groups in
tally.
Through stock groups, it helps you
to find the total sales, as per brand wise at particular period of time.
Single stock group
Step 1: From Gateway of Tally screen, choose Inventory Info.
Step 2: In next screen, under inventory info choose stock groups.
Step 3: Under single stock group, choose create option
to create single stock group in as per requirements of company.
Step 4: In next screen “Single Stock Group Creation” enter the following details.
§ Name: Enter the name of stock group that has to be created in Tally. Here
we have given “Television” as a new single stock group.
§ Under: Choose stock group as Primary
§ Should quantities of items to be added: Choose options as Yes
After entering all the required details, choose “A:Accept” to accept the
updated details.
Now successfully we have created single stock group in Tally.
Multiple stock groups
Step 1: From Gateway of Tally Screen, choose the option Inventory info.
Step 2: Choose the option stock groups under Inventory Information.
Step 3: Under stock groups, it displays two types of groups
1.
Single stock group
2.
Multiple stock group
We already created single stock group in Tally, here we are going to create
multiple stock groups. Now choose “Create” option under multiple stock groups.
Step 4: In the next screen multi stock group creation, you need to choose
the group under the list of groups for under group. Here we have given
Television (double click on Television to choose) as under group.
Step 5: Now update the Stock group as shown below .
Name of Stock Group
|
Under
|
Should Quantities of Items be Added
|
Sony
|
Mobile
|
Yes
|
Samsung
|
Mobile
|
Yes
|
Xiami
|
Mobile
|
Yes
|
After maintaining required details for multi stock group creation, choose A:Accept
to save the configured details in
Stock category
How to Create Stock Category in Tally
Stock category in tally can be
created by using two methods, i.e
- single stock category
- Multiple stock category
Before creation stock category in
tally, you need to set “Yes”
for Maintain Stock Categories in F11: Features. Gateway of Tally >
F11: Features > Inventory Features
How to Create Single Stock Category
in Tally
Step 1: Navigation to Gateway of
Tally and than choose the option Inventory Info
Step 2: Under inventory info,
choose Stock Categories option to create stock category in Tally.ERP 9.
Step 3: Under Single stock
category, choose “Create” option to create single stock category in Tally.
Step 4: In next screen “Stock
creation” update the following details.
§
Name: Enter the name of stock category that has to be created in
Tally, here we have given name of stock category as “32 Inches TV”
§
Under: By default choose “Primary”
§
Press enter to continue and click on Yes to accept the data.
How to create multiple stock categories
Step by step procedure to create
multiple stock categories in Tally.
Step 1: – Choose the option
“Create”under multiple stock categories to create multiple stock categories in
Tally.ERP 9.
Step 2: In next screen multi stock
category creation, choose under category as “All Items” by choosing all items, you can assigned
under Prime category.
Step 3: Now enter name of category and
press enter to continue. Choose under category as “Primary“.
After maintaining all the required
details, press A:Accept to save the configured details in Tally ERP 9.
Create Godown & Locations
How to Create Godowns / Location in Tally
Godowns is a location where stock items are stored safely. In
Tally, the reports of stock items can be prepared as per Godowns.
You can create Godowns in Tally (location) by using two methods,
i.e.
- Single Godown
- Multiple Godown
Before creation of multiple Godowns in tally, you need to set “Yes” for Maintain multiple
Godowns in F11: Features. Gateway of Tally > F11: Features >
Inventory Feature.
How to Create Single Godown
Step 1: From Gateway of Tally,
under masters choose the option Inventory Info.
Step 2: Under inventory Info,
choose Godowns option to create Godowns in Tally as per requirements of a
company.
Step 3: Under single Godown, click
on create option to create single Godown in Tally.
Step 4: In next screen GoDown
creation, enter the following details.
§ Name: Enter the name of
Godown, you can the name of Godown as the location name where it has been
located.
§ Under: Enter under which
godown comes
§ After entering the details
press enter and press Y or enter to accept the configured Godown in tally.
For our example, here we created a new Godown with name
“Amravathi” under Primary.
How to Create Multiple Godowns in Tally
Now learn how to create multiple Godowns in tally step by step.
Step 1: Gateway of Tally >
Inventory info > Godowns and click on create under multiple Godowns.
Step 2:In next screen multi godown
creation, enter the following details.
§ Name: Enter name of Godown /
location name
§ Under: Choose “Primary”
After updating all the Godowns / locations in tally, choose yes to
accept the data in Tally.
Create stock units
How to create
stock units in Tally ERP 9
In TALLY ,you can
create units and compound units (for e.g. No’s, pcs, box, etc) to measure
stocks. Compound unit is referred to combination to two units of measure. For
example, a box of 25 pieces is a compound unit of measure.
Gateway of Tally.ERP 9 >
Inventory Info > Unit of Measure > Create.
Step 1: Login to
Tally, from Gateway of Tally > choose inventory info.
Step 2: Next
choose “Unit of Measures”.
Step 3: Under
Units, click on Create option to create units of measure in Tally.
Step 4: In next
screen unit creation, enter the following details
§
Symbol: Enter the units symbol by which a stock items are
identified. For e.g. No’s indicates numbers.
§
Formal name: Formal name refer as another name of the units. It
helps to match the symbols with their respective names.
§
Number of decimal places: number of decimal can be used for
detecting units.
After entering all the required
details, press A:Accept to save the details in Tally.
compound units can also be created for e.g hours of 60 min
Create stock items
Stock Items in Tally
In Tally ,stock items are referred
to goods or services that a company manufactures or trade.
Stock items in Tally can be created by two methods, i.e.
1.
Single stock item
2.
Multiple stock items
Groups
|
Name of Items
|
Unit
|
Opening Qty
|
Rate
|
Amount
|
Music
System
|
Sony
Blue Ray Player
|
Nos
|
10
|
25,000
|
250,000
|
Philips
DVD player
|
Nos
|
5
|
15,000
|
75,000
|
|
Sony
5.1 Music System
|
Nos
|
2
|
20,000
|
40,000
|
|
Mobile
|
samsung8 (5.8 inch)
|
Nos
|
3
|
25,000
|
75,000
|
samsung8 plus (6.2 inch)
|
Nos
|
4
|
20,000
|
80,000
|
|
pixel (5 inch)
|
Nos
|
2
|
15000
|
30,000
|
|
pixel plus (6 inch)
|
Nos
|
2
|
20000
|
40,000
|
How to create single stock item in Tally
Path: Gateway of Tally.ERP 9
> Inventory Info > Stock Items > Single stock item > Create
Step 1: From the initial screen of
Tally, i.e. Gateway of Tally, choose inventory info.
Step 2: Next screen, choose “Stock items”
Step 3: Under single stock item, choose create.
Step 4: In next screen, single stock creation enter the following
details.
§ Name: Enter the name of
stock item
§ Alias: It can be short name
of stock item or another name or product id.
§ Under: Enter the stock group under which this stock
item to be specified
§ Category : Enter the stock category of stock item
§ Units: Units of measure to count the stock
item
§ Opening Balance: Enter the
opening balance of stock item
§ Quantity: Enter quantity of
stock item
§ Rate: When you are entering
the rate values for stock item, a new window opens as shown below. Update the
following details.
§ Godown: Choose godown from the list of Godowns.
§ Rate: Enter the rate of
stock item
§ Per & Amount values are
automatically calculated based on quantity and rate amount.
After entering the required details, press enter to continue.
Choose “yes” to save the details in Tally.ERP 9.
How to create multiple stock items
Path: Gateway of Tally.ERP 9 > Inventory Info > Stock Items
> Multiple stock items > Create
Step 1: Under multiple stock items, choose create option as shown
below image.
Step 2: In next screen multi Stock item creation, enter the
following details.
§ Under group: To update the
different types of stock items with different category groups, choose under
group as all items.
§ Now update all the required
details – Name of item, stock group, stock category, units, opening qty and
rates.
Click on A:Accept to save the entered details in Tally.ERP 9
system.
Purchase voucher config
1. Accept Supplementary Details : Set this
option to Yes to specify
the Despatch Details. If this option is set to No, Print Default Name and
Address of Party will be enabled for configuring. Here it captures the default
name and address present in the ledger.
2. Allow separate Buyer and Consignee names :
Customers who are into consignment business and would like to have the
Consignee details on the Invoice, have to set this option to Yes .
3. Use Common Ledger A/c for Item Allocation : If
you would like to allocate all the Items to a single Purchase Ledger in the
Invoice, you need to set this option to Yes for faster
data entry.
4. Allow Expenses/Fixed Assets for Accounting Allocation : If you
want to use Expense or Fixed Assets ledgers while recording a Purchase entry,
set this option to Yes .
5. Use Defaults for Bill Allocations : Setting
this option to Yes will
allocate the Bill Numbers automatically as defined in voucher type master in
ascending order.
6. Use Additional Description(s) for Item Name : If
you would like to specify any additional description for item during entry,
this option has to be enabled.
7. Use Additional Description(s) for Ledger Name : If
you would like to specify any additional description for ledger during entry,
this option has to be enabled.
8. Consolidate Stock Items with same rates: If you would
like to consolidate the stock items having same rates in Invoice, set this
option to Yes .
9. Show Compound Unit of Item based on Rate : By
enabling this option, you will be allowed to show the compound unit of item
based on the unit provided in the Rate Per
column .
10. Show
Full Details of Compound Unit : Enabling this option will
display full details of compound unit in the Quantity field.
11. Confirm
each Cheque before Print : When you set this option
to Yes , a conformation screen will appear
for every cheque used for the transaction before it is printed.
12. Use
Defaults for Bank Allocation : Setting this option
to Yes , the Bank Allocations will have
default allocations in which, the Transaction type is Cheque, Voucher date as
Instrument Date. the Cheque Range and Cheque Number will be Blank if it is not
defined.
13. Use
Auto Cheque Numbering : To fetch cheque numbers
automatically to the Bank Allocation, set this option to Yes . The first Cheque Range defined for the Bank ledger will be taken
as default.
14. Allow
Selection of Cheque Ranges : Setting this option to Yes , allows you to select any cheque range defined for a bank.
15. Show
Remarks in Bank Allocation Details : A new field - Remarks , will appear in the Bank Allocation screen where you can enter your remarks, when this option is set
to Yes .
16. Importer’s Options : This is useful for import
transactions.
17. Show turnover achieved with Customer : This
option will help to view the turnover details during entry.
18. Allow modification of ALL fields during entry : Default
order/delivery note entries appearing in the Invoice can be changed during
Invoice entry. Set this option to Yes to permit
modification of all fields.
19. Warn on Negative Stock Balance : Tally.ERP
9 will display a warning message Negative Stock with quantity details. You can
then check which item is having negative stock balance.
20. Honor Expiry Dates usage for Batches : You can
restrict or allow the usage of Expired stocks for selection during entry by configuring
this option.
21. Show batches with Zero Quantity : On setting
this to Yes the batches
with zero quantity will be available for selection during entry.
22. Calculate Tax on current Sub-Total : This
option should be enabled if the tax needs to be calculated after considering
the additional Expenses.
Next Lesson Accounting Voucher
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