INVENTORY INTRODUCTION

INVENTORY INTRODUCTION

Inventory is a list of moveable goods. In Inventory, we study about Stock Management and also know about over remaining stock.

To activate Inventory, we have to select “Account with Inventory” option in “Company Registration Form”.

To Activate Inventory:- G.O.T. (Gateway of Tally)-->press “Alt + F3" --> Create Company.

And then “accept” by pressing “y”.

Basic facts under Inventory:-

1) Stock group:- Stock Group indicates about a category of our stock.

To Create Stock Group:- G.O.T. (Gateway of Tally)--> Inventory Info--> Stock Group--> Create.

After pressing “enter” on create, a blank form will be opened as follow:-

It can be filled as follow:-

And then press “enter” on it.

The stock group is created.

2) Stock item: - The particular item which we purchase/sale is called stock item.

To Create Stock Item: - G.O.T. (Gateway of Tally)--> Inventory Info--> Stock Item--> Create.

After pressing “enter” on create, a blank form will be opened as follow:-

We can fill the form as follow:-

After pressing “Alt + C” the form given below will be open:-

And then fill it as follow:-

And then press “enter”.

After pressing enter on it, it will be back to stock item and the unit column will be filled as follow:-

And then press “y” or “enter” to accept it. Stock item is created.

3) Unit of measure: - It concert various types of unit in which we measure our stock item.

Unit of measure is of two types-

I. Simple unit: - In simple unit we can maintain only one unit at a time.

To Create Simple Unit: - G.O.T. (Gateway of Tally)--> Inventory Info--> Unit of Measure--> Create.

After pressing “enter” on create, the box given below will be open:-

We can fill the box as follow:-

And then accept it by pressing “y” or “enter”.

Simple Unit of measure is created.

II. Compound unit: - In compound unit we can maintain more than one unit at a time.

Here we are creating compound unit so we have to create two or more units by simple unit.

Suppose that the two units are packet (pkt) and pieces (pc). The unit “pc” is created above. So we will create the unit “pkt” by simple unit as follow:-

To Create Compound Unit Of Measure: - G.O.T. (Gateway of Tally)--> Inventory Info--> Unit of Measure--> Create.

After the box opened, press “back” button as given below:-

After that press up arrow “á” to go to compound and press “enter” and then the box given below will be appear:-

Press “p” for filling packet in the blank column and the box will appear as given below:-

We have to fill to packet in the first unit column so we will press down arrow “â” and press “enter”.

After that fill conversion (number of pieces filled in one packet). We are here assuming 10 pieces of one packet. So fill “10” in conversion column.

And then fill the second unit as “pc” as follow:-

And then accept it by pressing “y” or “enter”.

Compound unit of measure is created.

Note:- The three basic facts of Inventory (stock group, stock item and units of measure) are called Stock Master.