How to create stock items in Tally Prime?

Inventory means Stock management. Inventory management is a major feature of Tally Prime. Transactions related to Inventory should be entered with the following inventory masters.

  1. Stock Items
  2. Stock Groups
  3. Stock Categories
  4. Godowns / Locations
  5. Units of Measurement

What is a Stock Item ?

The items which we sell or buy and which are stored in our company godowns are called as stock items.

Examples: Computers, Laptops, Lux, Cinthol, Commerce books etc..

What is a Stock Group ?

We can record stock items under stock groups. For example, Computer is a stock item and Electronics is its group. Similarly, Items like TVs, Laptops, Mobiles comes under Electronics group. Commerce is a stock item and Books is its group. Lux is a stock item and soaps is its group. Stock items are classified under Stock groups.

Example : Electronics, Books, Soaps etc..

What is a Stock Category ?

For Example, If a keyboard is a stock item, then Electronics is a stock group. Whether that keyboard is a normal keyboard, or a multimedia keyboard is a stock category.

Examples about stock category :

Test papers, Text books, 21 Inches TV, 1 TB Hard Disk

GODOWNS / LOCATIONS

The place where stock items are stored in our company is called godowns / location.

Example : On-Site location, Warehouse location, Rawmaterial location

UNITS OF MEASUREMENT

The measure of stock is called as UNITS OF MEASUREMENT

Example : PCS, No.s, Liters, Kgs etc..

ASSIGNMENT

Create the following Godowns with the following Details

GODOWN NAMEADDRESSUNDER
RajamSatya Complex, Plkd Road, Primary
AmdalavalasaMettikkavalasaPrimary

Create the following Stock Groups

  • Electronics
  • Books
  • Soaps
  • Vehicles

Create the following Stock Categories

  • 21″
  • 14″
  • 28″
  • Bar
  • Text Books
  • Test Papers

Create the following Units of Measurement

  • Pcs
  • No.s

Create the following Stock items under Stock Group BOOKS

ITEMCATEGORYU.O.M.TOTALRAJAMADVRATEAMOUNT
CommerceText BooksNo.s100505015015000
EnglishTest PapersNo.s2006014012024000
MathsText BooksNo.s100802018018000
N.SText BooksNo.s25010015010025000
P.S.Test PapersNo.s150856510015000
HindiTest PapersNo.s225901359020250
SanskritTest PapersNo.s300300011033000
MS OfficeText BooksNo.s165100658013200
TallyText BooksNo.s7040301208400
PhotoshopText BooksNo.s1207511511513800

SOLUTION

SETTING UP INVENTORY FEATURE:

  • Press F11 for company features
  • Maintain Inventory > Yes
  • Accept_yes

NOW CREATE THE INVENTORY MASTERS

  • Gateway of Tally
    • Masters
      • Create
        (Creation of Godowns)
        • Godown
  • Click on “Create New” option
  • Name : Rajam
  • Under : Primary
  • Address : Enter the Address
    (If you not found the address field, press F12 for configuration, Activate the option USE ADDRESSES FOR GODOWNS : YES)
  • Press Enter, Accept_ Yes
    (Similarly create the another godown Amdalavalasa)
  • Press Backspace to go back
  • (Creation of Stock Groups)
    Select Stock group > Press enter
  • Name : Electronics
  • Under : Primary
  • Press enter > Accept_Yes
    (Similarly, create the remaining groups)
  • Press Backspace to go back
  • (Creation of Stock Categories)
    Select Stock category > Press enter
  • Name : 21″
  • Under : Primary
  • Accept_Yes
  • Press Backspace to go back
  • (Creation of Unit)
    Select Unit > Press enter
  • Type : Simple
  • Symbol : Pcs
  • Formal Name : Pieces
  • Unit Quantity Code : Pieces
  • Number of Decimal Places : 0
  • Accept_Yes
    Similarly create the remaining unit
  • Press Backspace to go Back
  • NOW CREATE THE STOCK ITEMS
  • Now select the stock item > press enter
  • Press F12 for configuration and activate the following features
  • Inventory Details:
    • Use Stock groups for Stock items : Yes
    • Use Stock Categories for Stock items : Yes
    • Provide Units of Measurement (Uom) for stock iems : Yes
    • Accept_ Yes
  • Name : Commerce (Press enter )
  • Under : Books (Select the group from the list)
  • Category : Text Books (select the category from the list )
  • Units : No.s
  • Skip the remaining details
  • Quantity : enter the total quantity <press enter>
  • Godown : Select Rajam godown <press enter >
  • Quantity : 50 <press enter >
  • Rate : 150 < Press enter >
  • Amount : <automatically calculates > press enter
  • Godown : Select Amdalavalasa godown < press enter >
  • Quantity : 50 <press enter >
  • Rate : 150 <press enter >
  • Amount : <Automatically calculates>
  • Rate : 150 <Press enter >
  • Total Amount : 15,000
  • Press enter Accept _ Yes
    similarly enter the remaining items also
STOCK ITEM CREATION

REPORTS :

  • Gateway of Tally > Reports > Stock summary
  • Press ALT + F1 for detailed report

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