INVENTORY
The main concept of Trading activities are receipt of goods
and delivery of goods. We generally call PURCHASE or SALE activities. The
trading items can be RAW MATERIAL, FINISHED GOODS, SEMI FINISHED GOODS eat. 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 form 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 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 accounted for, and Tally.ERP calls this
account “stock Item”.
Stock Units: You
can measure 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. Abovementioned 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:
First Unit
Conversion Factor Second Unit
Dozen 12 Pcs.
Meter
1000
Millimeters.
Box 30 Pcs.
Stock Group: As
per requirement of the business items can be created, but to generate a report
on similar type 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.
Creating a Single
Stock Group
Form this screen you can create a single stock group in the
following manner:
Gateway of Tally.ERP – Inventory Info – Single Stock Group – Create.
Enter the name of the Group.
Select the group under which this group will be classified.
Know this:
Alias
Enter additional name apart from primary name (if required).
You can create any number of additional names.
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 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: See GST Chapter
Modifying a Single Stock Group
Gateway of Tally.ERP – Inventory Info – Single Stock Group –
Alter
Displaying a Stock Group
Gateway of Tally.ERP – Inventory Info – Single Stock Group –
Display
Deleting a Single Stock Group
Gateway of Tally.ERP – Inventory Info – Single Stock Group –
Alter
Very nicely written. Thanks for sharing it with us.
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