Inventory means Stock maintenance and godown maintenance. Inventory management in Tally automatically generates reports like godown summary, stock summary, and movement analysis, etc.!
ASSIGNMENT ON INVENTORY
Create the following Stock Groups.
- Electronics
- Books
- Mobiles
Create the following Stock Categories.
- i7 processor
- i8 processor
- i9 processor
- 4gb RAM
- 6gb RAM
- 2gb RAM
- Test Papers
- Text Books
Create the following Units of Measurement
- Pcs
- No.s
Create the following Godowns
- Rajam (Address : Satya Complex)
- Palakonda (Address : VZM Road)
- Srikakulam (Address : GT Road, SKLM)
Create the following Stock Items
- Stock Item: Desktop Computers
Stock Group: Electronics
Stock Category: i8 processor
Units: pcs
Total Quantity: 10
Godown: Rajam 05 pcs
Godown: Srikakualm 05 pcs
Rate: 20,000 per pc - Stock Item: Laptops
Stock Group: Electronics
Stock Category: i9 processor
Units: pcs
Total Quantity: 06
Godown: Rajam 04 pcs
Godown: Palakonda 02 pcs
Rate: 30,000 per pc - Stock Item: ABC Smart Phone
Stock Group: Mobiles
Stock Category: 4 GB RAM
Units: pcs
Total Quantity: 20
Godown: Rajam 15 pcs
Godown: Srikakualm 05 pcs
Rate: 12,000 per pc - Stock Item: XYZ Smart Phone
Stock Group: Mobiles
Stock Category: 6GB
Units: pcs
Total Quantity: 05
Godown: Rajam 04 pcs
Godown: Srikakualm 01 pcs
Rate: 18,000 per pc - Stock item: Commerce Books
Stock Group: Books
Stock Category: Test Papers
Units: No.s
Total Quantity: 100
Godown: Rajam 50 pcs
Godown: Srikakualm 50 pcs
Rate: 250 per no.s - Stock Item: English Books
Stock Group: Books
Stock Category: Text Books
Units: no.s
Total Quantity: 150
Godown: Rajam 100 pcs
Godown: Palakonda 50 pcs
Rate: 300 per no.s
SOLUTION
STEP: 1 (Setting-up Features)
- Press F11 for Company Features
- Press F2 for Inventory Features
- Storage & Classification:
Maintain Multiple Godowns: Yes
Maintain Stock Categories: Yes - Accept_Yes
Step: 2 (Creating Stock Groups)
- Gateway of Tally > Inventory Info > Stock Groups > Single Stock Group > Create
- Name: Electronics
Under: Primary
Accept_yes - Name: Mobiles
Under: Primary
Accept_yes - Name: Books
Under: Primary
Accept_Yes
Step: 3 (Creating Stock Categories):
- Gateway of Tally > Inventory Info > Stock Categories > Single Stock Category > Create
- Name: I7 Processor
Under: Primary
Accept_Yes - Name: I8 Processor
Under: Primary
Accept_Yes - Name: I9 Processor
Under: Primary
Accept_Yes - Name: 4GB RAM
Under: Primary
Accept_Yes - Name: 6GB RAM
Under: Primary
Accept_Yes - Name: 2GB RAM
Under: Primary
Accept_Yes - Name: Text Books
Under: Primary
Accept_Yes - Name: Test Papers
Under: Primary
Accept_Yes
Step 4: ( Units Creation)
- Gateway of Tally > Units > Create
- Type: Simple
- Symbol: PCS
- Formal Name: pieces
- Unit Quantity Code: PCS – Pieces
- Number of decimal places: 0
Accept_Yes - Type: Simple
- Symbol: No.s
- Formal Name: Numbers
- Unit Quantity Code: No.s – Numbers
- Number of decimal places: 0
Accept_Yes
Step: 5 (Godowns Creation)
- Gateway of Tally > Inventory Info > Godowns > Single Godown > Create
- Press F12 for Configuration >
Provider Addresses for Godowns: Yes
- Name: Rajam
Address: Satya Complex
Allow storage of Materials: Yes
Accept_Yes - Name: Palakonda
Address: VZM Road
Allow storage of Materials: Yes
Accept_Yes - Name: Srikakulam
Address: GT Road
Allow storage of materials: Yes
Accept_Yes
Step 6 (Creating Stock items)
- Gateway of Tally > Inventory Info > Stock Items > Single Stock Item > Create
- Name: Desktop Computers
<Press Enter>
Under: Electronics (Select from the list)
<Press Enter>
Category: i8 processor (select from the list)
<Press Enter>
Units: Pcs (Select from the list>
<Press Enter>
Quantity: 10
<Press enter>
Godown: Rajam
<Press Enter>
Quantity: 05 pcs
<press enter>
Rate: 20,000
<Press Enter>
Per: PCS
Amount: 1,00,000
<Press Enter>
Godown: Srikakulam
<press enter>
Quantity: 05 pcs
Rate: 20,000
<Press Enter>
Amount: 1,00,000
Total VALUE: 2,00,000
Press Enter > Accept- Yes
Enter the remaining items same as above
REPORTS:
- Gateway OF tally > Stock summary (use alt + F1 KEY FOR DETAILED / CONDENSED REPORT)
- Gateway of Tally > Display > Statements of Inventory > Godown Summary > Select the Godown > Press Enter (use ALT + F1 key for detailed / condensed report)