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F2 : Inventory Features in Tally.ERP 9

This feature enables you to set the Inventory Features required for the transactions.

Go to Gateway of Tally.ERP > F11: Features > F2: Inventory

F2 : Inventory Features in Tally.ERP 9

F2 : Inventory Features in Tally.ERP 9

A- General

1. Integrate Accounts and Inventory

This field performs the same function as explained in Accounting Features.

2. Allow Zero Valued Entries in Vouchers

Allows 0 value entry : If your requirement is to pass an entry whose monetary transaction value is “0”, set it as “Yes”. For example, in cases where you do not want to show the value amount in goods Delivery Note / Challan. Or goods distributed as free sample with other goods.

Example : You want to send the Challan for delivery of goods to your customer NeXT Computer Education Pvt. Ltd., which will only consists of the name of product and their delivered quantities
. if you record the transaction in Tally.ERP it will be appear as below :

To Activate Delivery Note :     Enable the Option Use Tracking Number ( enable delivery and receipt notes) –YES in inventory Features ( F11)

F2 : Inventory Features in Tally.ERP 9

Gateway of Tally.ERP >  Inventory Voucher  >  Delivery Note ( Alt + F8)

B- Storage & Classification

1.       Maintain Multiple Godowns

Set this option to Yes, if you have more than one stock point/storage Locations/ Godowns, and you want to track stock movement in these Locations. You can create any number of Stock Locations/Godowns. The Godowns/Locations option is displayed in Gateway of Tally.ERP > Inventory Info. Menu only if you set this option to Yes. You will be able to know your stocks at each location as well as assign stock movement to one or more locations during voucher entry.

2.       Maintain Stock Categories

Maintain Stock Categories :This offers parallel category of stocks. For example : you are dealing with different companies that sell Floppy Disk, such Sony, Amkette, and Moserbaer. Here you can specify the entire stock item in the stock category under Floppy.

Name of the Item                                                    Categories
Sony 1.44 MB                                                             Floppy
Amkette 1.44 MB                                                        Floppy
Seagate Hard Disk ( 160 GB)                                    Hard Disk

3.       Maintain Batch-Wise Details

Maintain Batch-wise details :     This features is required if you want to maintain the Stock item batch-wise and you can also maintain the expiry date of the products. For example, Medicine, Food Products, etc.
Name of the Item       Batch No.       Mfg. Date        Expiry Date
Sony 1.44 MB             Se/150/08        01-04-2013     

Note: Batches should be used where they are small in number and remain constant. Do not use the batch option for tracking of lots through manufacturing processes. If that is done, you will soon have a large number of batches that are not deleted. You will not be able to assign costs to particular lots, as may be the intention.

  • Set Expiry Dates for Batches

Set this option to Yes, if you want to set expiry dates for the batches. This displays an additional field Use Expiry Dates in the Stock Item Creation screen.

This is useful for businesses that deal in goods that have expiry dates like medicines, food and other perishables. During voucher entry, date of manufacture of the product by default takes the date of the voucher. This date can be changed, but not to a date later than the voucher date. Expiry date cannot be a date prior to the voucher date.

4.       Use different Actual & Billed Quantity

Set this option to Yes, if you want to specify quantities, that are different from that delivered/ received, when invoicing.

For example, you have delivered goods but some of them are in disagreement. So, your customer wants to be invoiced only for the undisputed quantity. He/She might consider the rest later and would then like to be invoiced. On the other hand, the rest might be so bad that it is useless even for you to take it back. Hence, you can record the fact while raising the invoice without altering the delivery note or passing a rejection entry.

C- Order Processing

1. Processing the Purchase Order :

Set it as “Yes” if you want to maintain the Purchase Order this option would be available at  “Inventory Voucher” otherwise set it as “No”.

Example : If you want to place an order for an item to your supplier Mr.Swayam with specification of your order number, name of the item and their acceptable price and record the transaction in Tally.ERP it will be appear as shown below :

Gateway of Tally.ERP9 >  Inventory Voucher  >  Purchase Order (Alt + F4)

F2 : Inventory Features in Tally.ERP 9

2.       Allow Sales Order Processing :

Set it as “Yes” if you want to maintain the Sales Order, otherwise set it as “No”. This option is available at “Invoice Voucher”.

Example: If you want to record an order of 10 pcs of 17” COLOR MONITOR @ ₹. 4,420 from the customer Mr. Swayam, then the recorded transaction in Tally.ERP will appear as shown below :

F2 : Inventory Features in Tally.ERP 9

Gateway of Tally.ERP9 >  Inventory Voucher  >  Sales Order (Alt + F5)

D- Invoicing

1.       Sales Voucher in Invoice Format :

Setting the option as “Yes” will allow the Invoice Format for Sales Voucher and for Purchase, otherwise say “No”

Example : If you want to issue an invoice to your customer Mr. Swayam for sale of Hp-Laptop Computer System, 2 nos @ ₹. 30,000 and record the transaction in Tally.ERP it will appear as shown below :

  • Gateway of Tally.ERP g  Accounting Voucher  g  Sale and Purchases in Invoice Format

This field performs the same function as explained in  Accounting Features.

2.       Use Debit/Credit Notes

This field performs the same function as explained in  Accounting Features.

  • Use Invoice Mode for Credit Notes

This field performs the same function as explained in  Accounting Features.

  • Use Invoice Mode for Debit Notes

This field performs the same function as explained in  Accounting Features.

3.       Separate Discount Column on Invoices

This option is active only if Allow invoicing is set to Yes. Set this option to Yes, if you want a separate column for discount in invoices.

E- Purchase Management

1. Track Additional Costs of Purchase

In F11: Features (F2: Inventory Features) under Purchase Management, set Track additional costs of purchases to Yes.

Set this option to Yes, to obtain a break-up of purchase costs, without the need to separately debit ledger accounts for expenses. Typically, on purchases, one is interested in total costs and the breakup is of interest while doing analysis (except for expenses like GST which can be claimed). In such cases, passing of accounting entries for expenses will have no consequences other than lengthening your ledgers.

Example:

Purchases from  Mr. Swayam: 2 Pcs of Mi Note-4 Mobile @ ₹. 10,000 = ₹..20,000. Expenses incurred =, Transportation Charges – ₹..200, GST @ 18% i.e. ₹..3636. Total purchase cost – ₹..20,200 + GST ₹..3636

If you activate Track additional costs, you can pass the entry in any of the following methods:

From an accounting perspective, both entries are identical. The ledger accounts Purchase Tax and Packing charges are not debited with the amounts. Hence these figures are reflected only as breakup or analysis figures of Purchases account. The Actuals figure reveals the total cost incurred on the Purchase and will also affect the stock value.

You may also allocate additional costs on Purchases through subsequent entries or vouchers.
The rules for including subsequent vouchers in purchase costs that Tally.ERP follows are:

Basic Cost + Additional costs allocated (if any) + All costs in subsequent vouchers that have zero quantity, up to the first voucher that has a non-zero quantity.

F- Sales Management

1.       Use Multiple Price Levels

Set this option to Yes to create Multiple Price Levels. Refer Enable and Create Price Lists for more details.

G- Other Inventory Features

1.       Use Tracking Numbers (Delivery/Receipt Notes)

Use Tracking Number :    You will use the Tracking Number to link this Receipt Note with the Supplier’s Invoice that will be received later. Tracking numbers link the different accounting and inventory vouchers as follows :

  1. Receipt Note/Goods in vouchers with Purchase Vouchers.
  2. Goods Out / Delivery Note with sales voucher / invoice.
  3. Rejection-in with Credit Note.
  4. Rejection-out with Debit Note

2.       Use Rejection Inward/Outward Notes

Set this option to Yes, if you wish to record rejection of goods separately and not through a common Debit Note or Credit Note.
 
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