Lesson 4:
Creating Inventory Masters in Tally.ERP 9
Lesson Objectives
Inventory accounting includes recording of stock details like the purchase of stock, the sale of stock, stock movement between storage locations or godowns and providing information on stock availability. Tally.ERP 9 makes it possible to integrate the inventory and accounting systems so that the financial statements reflect the closing stock value from the Inventory system. tally course
The inventory system operates in much the same way as the accounting system. tally course
First you set up the inventory details, which is a similar operation to creating the chart of accounts although, in this case, there are no pre-defined set of stock groups. tally course
Second, you create the individual stock items, which is similar to setting up the ledgers. tally course
In a newly created company the Inventory Info. menu comprises of four types of Masters, viz. Stock Groups, Stock Items, Units of Measure and Voucher Types.
Go to the Gateway of Tally> Inventory Info,
The Inventory info. menu is displayed as shown:
The above Inventory Masters types are explained in detailed in the following sections.
Group B- Music Systems
Creating Inventory Masters in Tally.ERP 9
Lesson Objectives
- On completion of this lesson, you will be able to understand.
- The basic functions of the Tally ERP 9 inventory System.
- Creating and maintaining Inventory Masters.
- Creating and maintaining stock details.
- Creating stock items and entering opening balances.
Inventory accounting includes recording of stock details like the purchase of stock, the sale of stock, stock movement between storage locations or godowns and providing information on stock availability. Tally.ERP 9 makes it possible to integrate the inventory and accounting systems so that the financial statements reflect the closing stock value from the Inventory system. tally course
The inventory system operates in much the same way as the accounting system. tally course
First you set up the inventory details, which is a similar operation to creating the chart of accounts although, in this case, there are no pre-defined set of stock groups. tally course
Second, you create the individual stock items, which is similar to setting up the ledgers. tally course
In a newly created company the Inventory Info. menu comprises of four types of Masters, viz. Stock Groups, Stock Items, Units of Measure and Voucher Types.
Go to the Gateway of Tally> Inventory Info,
The Inventory info. menu is displayed as shown:
 |
| Inventory Info.Menu |
- Units of Measure.
Let us take the example of Indus Enterprises that sells Televisions and Music Systems. Given below is the structure of items being sold. tally course
Group A Televisions
|
A1-Sony
|
A1a - sony 29 inches TV
|
A1b - Sony 25 inches TV
|
|
A2- Philips
|
A2a - Philips 29 inches
TV
|
A2b - Philips 25 inches TV
|
|
A3 - Videocon
|
A3a - Videocon 29 inches TV
|
A3b - Videocon 25
inches TV
|
Group B- Music Systems
A1 - Sony
|
B1a – Sony Tape-Recorder
|
B1b – Sony CD Player
|
|
B2 - Videocon
|
B2a – Videocon Tape Recorder
|
B2b- videocon CD Player
|
