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1.1. Advanced Inventory-Meaning in Tally.ERP9

The main concept of Trading activities are receipt of goods and delivery of goods. We generally call them PURCHASE or SALE  activities. The trading items can be RAW MATERIAL, FINISHED GOODS, SEMI-FINISHED GOODS, etc. For better Organization you can use the group and sub-group for classification of the trading item.

Inventory Info Menu
You can create the inventory from this menu, which contains the following options :

  1. Stock  Group : Create your group here, for example, Raw Materials, Work-in-progress, Finished Goods, etc.

  2. Stock Items : Create your Stock Items here, for example, TV, Sound System, VCD, etc.

  3. Voucher Types

  4. Unit of Measurement : Create your measurement Unit for Items, for example, LTR. MTR, PCS, BOX etc.

  5. Quit : Exit from the menu.

Before creating the Inventory info menu we should know what stock groups, stock items and units of measurement are.

What are Items, Groups and Units ?

Definitions

Stock Items :    Stock items are the primary inventory entity, like Ledgers. Usually it means Item or Product, which can be buying, selling or issue for production purpose. Each item is required to be accounted for, and receipt or issue needs to be created. In fact, you will create a stock ledger account for each item and Tally.ERP calls this account “Stock Item”.

Stock Units :     You can measure the Stock Item by Units, like money is measured in Currency. For example, Liters, Meters, Kilograms, Pieces, Box, Dozen, etc. Units can be classified under the following types :

  1. Single Units : When only one Unit is used for receipt and issue of stock items. Above-mentioned are all example of Single Units.

  2. Compound Units: When two different types of Units can be used for receipt and issue of the Stock item is called compound unit. For example :
Advanced Inventory in Tally.ERP9Image-1

First Unit                      Conversion Factor                               Second Unit
Dozen                                       12                                                         Pcs.
Meter                                        1000                                                     Millimeters.
Box                                          30                                                         Pcs.

Stock Group :               As per requirement of the business numerous items can be created, but to generate a report on similar types of stock items you need the classification of stock items. This classification will help you to get stock report  in an organized manner. For example, Raw Material, WIP, Finished Goods, Hardware, Software, Electrical, Electronics, etc.
1.2. Creating a Single Stock Group
Advanced Inventory in Tally.ERP9Image-2

Under

Specify whether it is a primary group or a sub-group of another group, by selecting from the list.
Press Alt+C to create a parent group, if you do not have it in the list.

Can quantities of items be ADDED?

This field pertains to information on measuring the units of the Stock Items that you would categorise under the Stock Group.
The Stock Items categorised under the group should have similar units for them to be added up. You cannot add quantities in Kgs to quantities in Pcs.

Any modifications such as name, change of parent group is possible here.

1.2.1. Modifying a Single Stock Group
Gateway of Tally.ERP g Inventory Info g Single Stock Group g Alter

1.2.2. Displaying a Stock Group
Gateway of Tally.ERP g Inventory Info g Single Stock Group g Display

1.2.3. Deleting a Single Stock Group
Gateway of Tally.ERP g Inventory Info g Single Stock Group g Alter

For deleting a group from the list the key combination is ALT + D. Remember that the group should be empty, which means that no stock item is under this group.

1.3. Creating a Multiple Stock Group
  1. Gateway of Tally.ERP 9 g Inventory Info g Multiple Stock Group g Create.

  2. Select / Create the group ( for creation press ALT+C)

  3. Enter the name of the groups

For Example: A Sanitary Fittings store has different types of fittings.

Fittings : Toilet, Bath, Kitchen, Urinals

Advanced Inventory in Tally.ERP9Image-3
1.4. Creation of Stock Units
Advanced Inventory in Tally.ERP9Image-4
1.4.1. Alternation / Deletion of Stock Units

Gateway of Tally.ERP g Inventory Info g Units of Measure g Alter

Key combination is ALT+D
1.5. Stock Items
After creation of Groups and units of measurement you can create the Stock Item from…
1.5.1. Creation of Single Stock Item
Advanced Inventory in Tally.ERP9Image-5
Advanced Inventory in Tally.ERP9Image-6
Advanced Inventory in Tally.ERP9Image-7
1.5.2. Creation of Multiple Stock Item
  1. Gateway of Tally.ERP g Inventory Info g Stock Item g Multiple Stock Items g Create

  2. Select the Group of the Product

  3. Enter the name of the Item

  4. Select the Category from the list.

  5. Specify the Unit

  6. Enter the Quantity

  7. Enter the Rate

Advanced Inventory in Tally.ERP9Image-8
1.5.3. Modification and Deletion of Stock Item
Advanced Inventory in Tally.ERP9Image-9
 
 
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Company Information @ Tally.ERP9
 
Group & Ledger

Introduction
1. THE GROUP
2. THE LEDGER
3. VOUCHERS TYPES

Advanced Inventory / Stock
Meaning
Order Processing
Re-Order Levels
Tracking Numbers
Batch-wise Details
Additional Cost Details
Bill of Materials (BOM)
Price Lists and Price Levels
Stock Valuation
Zero Valued Entries
Inventory Ageing Report
Actual and Billed Quantities
Advanced Usage of Vouchers
Maintain Bill-wise Details
Cost Center and Cost Category
Interest Calculation
Reversing Journals
Post-Dated Voucher
Memo (Memorandum) Voucher
Optional Voucher
Using Tracking Number
Tally.ERP9 Report
  1. Unit Objectives
  2. Modifying Reports (Options)
  3. Balance Sheet
  4. Profit & Loss Account
  5. Stock Summary
  6. Trial Balance
  7. Day Book
  8. Books of Accounts
  9. Statement of Accounts
  10. Inventory Books
  11. Statutory Reports
  12. List of Accounts ( Chart of Accounts)
  13. Exception Reports
  14. Printing Reports
Tally.ERP9 MIS and Other Reports
Statutory & Taxation
Utilities & Others @ Tally.ERP9
Credit Limits
Knowledge Base @ Tally.ERP9
Stock Items
Stock Groups
Inventory Masters
Inventory Vouchers
Inventory Report Statements
Balance Sheet
Accounting Reports
Accounting Vouchers
Interest Calculation
VAT-Value Added Tax
Service Tax
TDS (Tax Deducted at Source)
 
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