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FAQ on Inventory Masters in Tally.ERP9

FAQ-1 : How to Enable Godown in Tally.ERP 9 ?

Set the option Maintain Multiple Godowns under F11:Features (F2: Inventory Features) to activate Multiple Godowns in Tally.ERP 9.

    Enable Godown in Tally.ERP 9

   [16-1]

Note: After setting the option ‘Maintain Multiple Godowns’ to ‘Yes’ in the F11:Features (F2: Inventory Features), ‘Main Location’ will be available by default in Tally.ERP 9. 

Once Godown are enable:

i)         Godown or Location details will be available while entering any Inventory Allocation or Opening Stock for any Stock Item.

ii)         The option for a Godown Summary is made available under Inventory Reports

FAQ-2 : How to Create a Godown/Location in Tally.ERP 9 ?

Answer

1.         Go to Gateway of Tally > Inventory Info. > Godowns > Create.

  Create a Godown/Location in Tally.ERP 9

   [16-2]

2.         In the Name field, give the name of the location.

3.         Give an alias for the name, if required.

4.         Give the address, if required. (In the Godown Creation screen, press F12: Configuration > set Use ADDRESSES for Godowns to Yes).

5.         Give the location under which this location is to be sub-grouped. Use [Alt]+[C] to create the parent location. Select primary if it is not a child of any location.

Allow Storage of Materials?

6.         Set the option Allow Storage of Materials? as Yes, to store material in this location and not act just as a virtual location.

Tally permits you to create a location/godown where you may not store materials at all but treat it as a virtual location. Virtual locations are useful in cases like the Head Office which may have many different stock points under it that stores materials. Hence, the Head Office acts like a primary group location. For example, designate London as a virtual location with Wimbledon Warehouse, Harrow Warehouse, Brixton Warehouse as sublocations/ godowns which allow the storage of materials.

7. Accept to create the godown master.

FAQ-3 : What is Godown/Location Vouchers ?

Answer

Godown/Location Vouchers is a list of all vouchers for a selected item that have a relation to the selected Godown/location during the period of display.

  • Go to Gateway of Tally > Display > Statements of Inventory > Godowns /Locations
  • Select a Godown/Location > select Item > drill down to Godown Vouchers screen

Godown/Location Vouchers in Tally.ERP9

   [16-3]

This statement is useful when you want to a list of all transactions for a particular Godown/location.

FAQ-4 : FAQ – On Inventory Master

Query

What is the use of the option Allow Storage of materials in the Godown Creation/Alteration screen?

Answer

The option Allow Storage of materials, when set to Yes, allows you to allocate quantities of stock items to the godown. However, if this option is set to No, this godown will not be shown in the list of godowns to allocate stock items.

Query

What is the importance of the F7: Show Profit button in the Godown Summary?

Answer

The F7 button is used to view the Godown Profitability Statement. Once you this button the Outwards column displays the quantity, rate, value, consumption, gross profit and percentage for godown in the period.

Quantity: The quantity of goods sold.

Rate: The rate of the items sold.

Value: The Total Sales value.

Consumption: The cost of goods sold .

Gross Profit: Sales value minus Consumption amount.

Percentage: Percentage of Gross Profit on the Sales value.

The button toggles between Show Profit/Hide Profit.

This is similar to the option Show Consumption & Gross Profits available in F12 Configuration.

Query

Why is the balance of few Stock Groups shown as nil in the Godown Summary?

Answer

The values will not be shown, if the Stock Item's Costing Method is valued at Zero Cost, and if the option Treat all Sales as New Manufactured is set to Yes in the Item Master creation screen.

Query

Can I view and alter Godown/Location details in Tally.ERP 9?

Answer

Once created, stock locations can be displayed and altered in both single and multiple mode. You can delete a stock location by using the option 'Single Location Alter' by pressing [Alt]+[D]. However, you cannot delete a stock location with sub-locations. The lower levels must be deleted first.

Query

What is Our Stock with Third Party option in Godown Master?

Answer

The option,Our Stock with Third Party is provided in Godown Creation to facilitate companies in the segregation of their stock lying with them and their stock lying with third parties.

For Example: In the case of Job Work, the principal company provides its job workers with the raw material required to complete the process that it outsources. Here the job worker is Third Party to the principal company. The principal company needs to keep track of its stock lying with the party. By enabling this option, stock lying with third parties can be viewed inStock Summary. This option is also useful for consignment agents.

Query

What is Third Party Stock with us option in Godown Master?

Answer

The option,Third Party Stock with us is provided in Godown Creation to facilitate companies in the segregation of their stock-in-hand and third parties' stock lying with them.

For Example: In the case of Job Work, the principal company provides its job workers with the raw material required to complete the process that it outsources. The option Third Party Stock with us can be used by the Job Worker to segregate the material received from the principal company, from his own stock.

Query

In the Godown Creation screen the option Allow Storage of materials is not displayed. How to enable this option?

Answer

To enable the option Allow Storage of materials in Godown Creation screen:

Go to Gateway of Tally > F12: Configure > Accts/ Inventory Info. > under Inventory section, set the option Allow ADVANCED entries in Masters to Yes.

 


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