Tally Prime

Maintain Inventory (Stock) with TallyPrime

Maintain Inventory (Stock) with TallyPrime

Introduction to Inventory

Maintain Inventory (Stock) with TallyPrime: The total amount of goods or materials contained in a store or factory at any given time is called as “Inventory”. Store owners need to know the precise number of items they hold in-order to place orders or control losses. Factory managers need to know how many units of their products are available for customer orders. Tally Prime provides you a systematic way of recording inventory under the  recording Inventory information. For this purpose, you have to maintain with account with inventory.

Company Setup for Inventory

To setup inventory for a company in Tally Prime, follow these steps:

  1. Create a Company.
  2. Go to Gateway of Tally screen, select Create and Press Enter.
  3. Now select Inventory Master Group.

Options in Inventory Masters Menu

Different options which are available in the Inventory Masters Menu are given below:

Stock Group

You can group your stock items based on some similarity (Common features) in them. Grouping of stock items helps to get group specific report.

Creating Stock Group

Here are the steps given below to create Stock Group in Tally Prime.

  1. Go to Gateway of Tally.
  2. Create Type or Select Stock Group and Press Enter.

Stock Category

Stock Category allows parallel allocation of Stock items. Like Stock Groups, Stock Category classification is done based on similarity in behavior.

Creating Stock Category

To create stock category, follow these steps:

  1. Go to Gateway of Tally
  2. Create and then Click on Inventory Masters Stock Category

Godown

Godown is basically the storage location where items are stored. With this feature we can maintain  the transaction of stock items with location detail.

Creating Godown

Here are the steps given below to create godowm:

  1. Go to Gateway of Tally.
  2. Then Click on Create, Inventory Masters and select Godown.

Units

Stock Items are purchased or sold on the basis of quantity. The quantity of stock item is measured in Units. The unit feature allows us to deal with the different units to measure stocks.

Types of Units

There are basically two types of Units in Tally Prime:

  1. Simple Unit: It is used when only one type of unit is used for measuring stock items.
  2. Compound Unit: It is used when two different types of units are used for measuring stock items.

Creating Unit

To create Units, follow the given steps given below:

  1. Go to Gateway of Tally.
  2. Then Click on Create, Inventory Masters and select Unit.

Stock Items

Stock items refers to the item which you purchase or sell in your business. In Tally Prime under stock item you can create any stock name and define it’s group or brand name.

Creating Stock items

To record or enter stock items, follow these steps:

  1. Go to Gateway of Tally.
  2. Then Click on Create, Inventory Masters and select Stock Items.

Conclusion

In this blog, we have discussed about Maintaining Inventory in Tally Prime with complete concepts and steps. We always highlight right information in my blog. If you want to get more such information, then please visit our blog.

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Pooja Rastogi

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