What Is Inventory in Tally?
In Tally, inventory represents the physical goods that a business owns and is prepared to sale, purchase, utilize, or produce. This includes everything from raw materials and items in production to finished products. By effectively managing inventory in Tally, businesses can keep a close eye on stock levels, streamline orders, and enhance their supply chain efficiency.
Inventory in Tally refers to the systematic management of items or products, including:
·
Stock Items (e.g., products or goods)
·
Units of Measure (e.g., pieces, kilograms)
·
Stock Groups (categories like Electronics, Furniture)
·
Stock Categories (parallel classification across groups)
·
Godowns (physical storage locations)
·
Batches and Expiry (for perishable items)
·
Bills of Materials (BOM) (for manufacturing)
Key Features of Inventory in Tally
1. Stock
Item Creation
·
Individual products or goods you trade in.
2. Stock
Groups
·
Helps organize similar types of stock items.
3. Units
of Measure
·
Define how items are measured (e.g., kg, liter,
pcs).
4. Stock
Valuation
·
Methods like FIFO, LIFO, Average Cost, etc.
5. Godowns
(Warehouses)
·
Maintain stock at multiple locations.
6. Inventory
Vouchers
·
Documents used for inventory movements, like:
·
Purchase Order
·
Sales Order
·
Delivery Note
·
Receipt Note
·
Stock Journal
·
Physical Stock
7. Inventory
Reports
·
Stock Summary
·
Movement Analysis
·
Reorder Levels
·
Ageing Analysis
·
Batch-wise Details
How
to Maintain Inventory in Tally Prime
Step 1: Create Stock Groups
1.
Go
to Gateway of Tally > Create > select Stock Group.
2.
Enter:
·
Name: Mobile Phones
·
Under: Primary or another group
3.
Press
Ctrl + A to save.
Step
2: Create Units of Measurement
1.
Go
to Gateway of Tally > Create > Units.
2.
Enter:
·
Type:
Simple (e.g., pcs, kg, meter)
·
Symbol: pcs
·
Formal
Name: pieces
·
Decimal
Places: e.g., 0 or 2
3.
Save
it using Ctrl + A.
Step
3: Create Stock Items
1.
Go
to Gateway of Tally > Create > Stock Item.
2.
Fill
the details:
·
Name: Samsung Galaxy A15
·
Under: Select Stock Group (e.g., Mobile Phones)
·
Units: Select unit (e.g., pcs)
·
Opening
Balance: Enter Quantity, Rate,
and Amount if needed
·
(Optional:
Enter GST/tax details if required)
3.
Press
Ctrl + A to save.
1.
Go
to Gateway of Tally > Create > Godown.
2.
Enter:
·
Name: Main Warehouse
·
Under: Primary
3.
Press
Ctrl + A to save.
Step
5: Record Inventory Transactions
🔹 Purchase Entry
1.
Go
to Vouchers > Press F9 (Purchase).
2.
Choose
Item Invoice mode (Alt + I if not already).
3.
Select
Party Ledger (Supplier Name).
4.
Enter:
·
Item
Name
·
Quantity
·
Rate
·
Godown
(if enabled)
5.
Save
with Ctrl + A.
🔹 Sales Entry
1.
Go
to Vouchers > Press F8 (Sales).
2.
Use
Item Invoice mode.
3.
Select:
·
Party
Ledger (Customer Name)
·
Item
·
Quantity
·
Rate
4.
Save
with Ctrl + A.
🔹 Stock Journal (for transfer/adjustment)
1.
Go
to Vouchers > Press F7 (Stock Journal).
2.
Use
for transferring stock between godowns or making adjustments.
3.
Save.
🔹 Receipt Note (Goods Received)
1.
Go
to Vouchers > Press Alt + F9 (Receipt Note).
2.
Select
Item, Quantity, etc.
3.
Save.
🔹 Delivery Note (Goods Delivered)
1.
Go
to Vouchers > Press Alt + F8 (Delivery Note).
2.
Enter
details and save.
