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 :
- Stock Group : Create your group here, for example, Raw Materials, Work-in-progress, Finished Goods, etc.
- Stock Items : Create your Stock Items here, for example, TV, Sound System, VCD, etc.
- Voucher Types
- Unit of Measurement : Create your measurement Unit for Items, for example, LTR. MTR, PCS, BOX etc.
- 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 ?
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.ERP9 calls this account “Stock Item”.
Stock Units of Measure:
Stock Items are mainly purchased and sold on the basis of quantity. The quantity in turn is measured by 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 :
- Single / Simple Units : When only one Unit is used for receipt and issue of stock items. Above-mentioned are all example of Single Units.
- 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 :
Stock Group :
Stock Groups in Inventory are similar to Groups in Accounting Masters. They are helpful in the classification of Stock Items.
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.
Grouping enables you to locate Stock Items easily and report their details in statements.
1. Creating a Single Stock Group
From this screen you can create a single stock group in the following manner :
- Gateway of Tally.ERP9 g Inventory Info g Single Stock Group g Create.
2-Stock Group in TallyERP9
- Enter the name of the Group.
- Select the group under which this group will be classified.
Know this :
Enter additional name apart from primary name [if required]. You can create any number of additional names.
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 categories 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.
Set / Alter GST Details :
This Option is applicable when all the items under such Groups having the Same HSN Code and Same GST Rate. Otherwise, this option should be No if multiple GST Rates of Items under this group are there.
If this option is set to Yes, the Set / Alter GST Details for Stock Group screen will be as below :
Select Taxable for goods and services that are classified as taxable type of supply under GST. Select Exempt , if the type of supply is exempted from tax under GST, or select Nil Rated , if the tax rate applicable to the type of supply is 0% under GST.
Integrated Tax :
When you enter the integrated tax, state tax and central tax are calculated as half of the integrated tax specified. You can change state tax or central tax by using F12 configuration.
Press Ctrl+A to save.
Note: Category and Godown buttons are visible only if you opted for the same in F11: Features.
2. Displaying a Stock Group
You can display the existing Stock Group in Single mode and multiple mode, since it is only display Tally.ERP 9 does not allow you to alter any information in display mode.
Gateway of Tally.ERP9 g Inventory Info g Single Stock Group g Display
3. Modifying / Deleting a Single Stock Group
Gateway of Tally.ERP9 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.
4. Creating a Multiple Stock Group
Gateway of Tally.ERP9 g Inventory Info g Multiple Stock Group g Create.
- Select / Create the group (for creation press ALT+C)
- Enter the name of the groups
For Example: The Group ‘Accessories’ having different types of Groups
Accessories: Cabinet, CD Drive, Keyboard, Mother Board, Mouse, Processor
Items are Addable? (Y/N)
You can select whether units of the Stock Items under Stock Group are to be added or not.