How to configure Stock Items and Ledger Accounts for Item Cost Tracking?  @ Tally.ERP9

Query

How to configure Stock Items and Ledger Accounts for Item Cost Tracking?

Answer

Configuring Stock Items for Cost Tracking

To configure Stock Items for Cost Tracking,

Go to Gateway of Tally > Inventory Info > Stock Items > Create / Alter

• Set Yes to Enable Cost tracking, as shown:

Note: The Cost Tracking option appears only when Unit is selected for Stock Item.

·          Provide the other required details and Save the Stock Item.

Configuring Ledgers for Cost Tracking

To configure the Ledgers for Cost Tracking,

Go to Gateway of Tally > Accounts Info > Ledgers > Create / Alter

·          Set Yes to Allow Stock Item Cost allocation, as shown:

Note: The option Allow Stock Item Cost allocation appears only for the ledgers grouped under Expenses & Incomes (Direct/Indirect), Purchases & Sales Accounts.

·          Provide the other required details and Save the Ledger.