Accounting with Inventory

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Accounting with Tally Using Inventory

Inventory accounting includes recording to stock details, the purchase of stock, the sale of stock, stock movement between godowns, Stock summary.

Activate Following options in F11 Features

Steps

Ø  Gateway of Tally

Ø  F11 Company Features

Ø  Select Accounting Feature & press Enter

Flow Chart of Stock Item

·         LG – (Group)

a.       LED – (Stock Category)

b.      LCD – (Stock Category)

                                                              i.      36” LED LG – (Stock Item)

                                                             ii.      14” LCD LG – (Stock Item)

·         Videocon - (Group)

a.       AC – (Stock Category)

b.      Refrigerator – (Stock Category)

                                                              i.      AC Automatic – (Stock Item)

                                                             ii.      165 Liter Ref. – (Stock Item)

Before Creating Stock Group Items Make Following Changes in the F11: Features

Create the following Stock Categories under Primary

·         LG- LED

·         V- Refrigerator

·         LG- Audio

·         V- Washing Machine (W/M)

·         LG- Iron

·         V-AC

·         LG- Refrigerator

·         V- LED

·         LG- Washing Machine (W/M)

·         V- LCD

·         LG-LED

·          

Press Esc & return to Gateway of Tally

First, you need to ensure the Godown/Location feature is enabled.

1. Enable Godowns/Locations

  1. From the Gateway of Tally, press F11 to open Company Features.
  2. Under the Inventory section, find the option Enable Multiple Godowns.
  3. Set this option to Yes.
  4. Press Ctrl + A to save and accept the changes.

2. Create Your Godown, Warehouse, or Showroom 🏢

Once the feature is enabled, you can create as many locations as you need.

  1. Go to the Gateway of Tally.
  2. Navigate to Create > Godown.
  3. The Godown Creation screen will appear.
  4. Enter the Name you want (e.g., "Main Warehouse," "Downtown Showroom," or "West-End Godown").
  5. Keep the setting for Under as Primary. This means it's a main location.
  6. Press Enter or Ctrl+A to save the location.

UNIT OF MEMORY

Steps to Create "Nos" and "Doz" Units in TallyPrime

1. Create Simple Unit: "Nos" (Numbers)

  • Go to Gateway of Tally > Create > Unit or press Alt+G > Create Master > Unit.
  • Type: Simple (default).
  • Symbol: Enter "Nos".
  • Formal Name: Enter "Numbers".
  • UQC: Select "NOS-NUMBERS" (for GST).
  • Decimal Places: Set to 0 (whole numbers).
  • Press Ctrl+A to save.

2. Create Compound Unit: "Doz" (Dozen, 12 Nos)

  • Ensure "Nos" unit is created first.
  • Go to Gateway of Tally > Create > Unit or Alt+G > Create Master > Unit.
  • Type: Change to Compound.
  • First Unit: Select or create "Doz" (use Alt+C if needed, enter "Doz" as symbol, "Dozen" as formal name).
  • Conversion: Enter 12.
  • Second Unit: Select "Nos".
  • Formal Name: Enter "Dozen of Numbers".
  • UQC: Select "DOZ-DOZEN".
  • Decimal Places: Set to 0.
  • Press Ctrl+A to save.

3. Use in Stock Items

  • Go to Gateway of Tally > Inventory Info > Stock Item > Create.
  • Select "Nos" or "Doz" as the Unit of Measurement.

4. Verify or Edit

  • Check units: Gateway of Tally > Inventory Info > Units of Measure > Display.
  • Edit/Delete: Gateway of Tally > Alter > Unit > select unit > edit or press Alt+D to delete (if not linked).

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