INVENTORY:
1. Units of Measures:
in Tally, There are 2 types Units
1. Simple Unit : It consists only one unit
2. Compound Unit : It consists more than one units
Example for simple units:
Nos | Kgs | Gms | Ltrs | Mtrs | Dz | Bx | Pcs | Pkts
Example for Compound units:
Dz = 12 Pcs | Bx = 10 Nos | Kgs = 1000 Gms
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How to create simple unit:
GWT ==> Create==> Units of Measures
Type : Simple
Symbol : Nos
Formal Name : Numbers
Unit code quantity : Nos
No. of decimal Places : 0
save it
Type : Simple
Symbol : Kgs
Formal Name : Kilograms
Unit code quantity : Kgs
No. of decimal places : 3
save it
Type : Simple
Symbol : Gms
Formal Name : Grams
Unit code quantity : Gms
No. of decimal Places : 3
save it.
Type : Simple
Symbol : Box
Formal Name : Boxes
Unit code quantity : Box
No. of decimal Places : 0
save it.
Type : Simple
Symbol : Pkts
Formal Name : packets
Unit code quantity : Pkts
No. of decimal Places : 0
save it.
Type : Simple
Symbol : Ltrs
Formal Name : Litres
Unit code quantity : Ltrs
No. of decimal Places : 3
save it.
Type : Simple
Symbol : Mtrs
Formal Name : Meters
Unit code quantity : Mtrs
No. of decimal Places : 2
save it.
Type : Simple
Name : Pcs
Formal Name : Pieces
Unit code quantity : Pcs
No. of decimal Places : 0
save it.
How to create Compound unit:
Gwt ==> Create ==> Units
Type : Press Backspace and select compound
First Unit conversion Second unit
Kgs of 1000 Gms
Dz of 12 Pcs
Bx of 10 Pcs
Pkts of 10 Pcs
NOTE: First unit is always Higher Units
Second unit is always Lower Units
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Stock Group:
Based on functionality of the stock item, create stock group
Stock Group Creation:
GWT ==> Create ==> Stock Group
Name : Liquid Fuel
Under : Primary
Should qty of items be added: yes
save it
Name : Solid Fuel
Under : Primary
Should qty of items be added: yes
save it
Name : Laptop
Under : Primary
Should qty of items be added: yes
Save it
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Stock Category: Parallel classification of stock item is called stock category.
Stock Group Creation:
GWT ==> Create ==> Stock category
Name : Fuel
Under : Primary
save it
Name : Electronics
Under : Primary
save it
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Godowns or Location:
Godowns mainly used to store stock items
By Default tally has created one Godown i,e. MainLocation
GWT ==> Create ==> Godowns or Locations ==> press enter for Create new
Name : Show room
Under : Primary
save it
Name : Warehouse
Under : Primary
save it
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Stock items:
How to create a stock item without GST:
GWT ==> Create ==> Stock item ==>
Name : Petrol
Under : Liquid Fuel
Category : Fuel
Units : Ltrs
GST applicable : Not applicable
Opening Balance : 1000
Select Godowns ==> Warehouse
Enter qty(1000) and rate(Your own value) ==> Press enter key ==> Save it.
Name : Diesel
Under : Liquid Fuel
Category : Fuel
Units : Ltrs
GST applicable : Not applicable
Opening Balance : 1000
Select Godowns ==> Warehouse
Enter qty(1000) and rate(Your own value) ==> Press enter key ==> Save it.
Name : Kerosene
Under : Liquid Fuel
Category : Fuel
Units : Ltrs
GST applicable : Not applicable
Opening Balance : 1000
Select Godowns ==> Warehouse
Enter qty(1000) and rate(Your own value) ==> Press enter key ==> Save it.
Name : Camphor
Under : Solid Fuel
Category : Fuel
Units : Gms
GST applicable : Not applicable
Opening Balance : 1000
Select Godowns ==> Warehouse
Enter qty(1000) and rate(Your own value) ==> Press enter key ==> Save it.
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How to create a stock item with GST:
Dell 15R | Acer NE56 (GST HSN = 8471 | Tax rate = 18%)
Name of stock item : Dell 15R Acer NE56
Group (under) : Laptop
Stock Category : Electronics
Units of measures : Pcs
GST is applicable : applicable
Set alter GST Details : yes
Description : Laptop
HSN Number : 8471
Calculation type : On Values
Taxability : Taxable
Integrated Tax : 18%
Type of supply : Goods
Opening Balance : 100 ==> Selection showroom Location==>Press enter key for qty ==> Enter Rate (Rs. 2000)==> Press enter key twice ==> save it.
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How to Delete a stock item
GWT==> Alter ==> Stock Item ==>Select unwanted stock item ==>Press Enter key ==>Alt+D to Delete
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Name of stock item : Acer NE56
Group (under) : Laptop
Stock Category : Electronics
Units of measures : Pcs
GST is applicable : applicable
Set alter GST Details : yes
Description : Laptop
HSN Number : 8471
Calculation type : On Values
Taxability: Taxable
Integrated Tax: 18%
Type of supply : Goods
Opening Balance : 100 ==> Selection showroom Location==>Press enter key for qty ==> Enter Rate (Rs. 2000)==> Press enter key twice ==> save it.
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Stock item : Vivo S1Pro
Stock Group : Smart Mobile
Stock Category : Electronics
Units : Pcs
GST is applicable : applicable
Set alter GST Details : yes
Description : Laptop
HSN Number : 8517
Calculation type : On Values
Taxability: Taxable
Integrated Tax: 18%
Type of supply : Goods
Opening Balance : 100 ==> Selection showroom Location==>Press enter key for qty ==> Enter Rate (Rs. 3000)==> Press enter key twice ==> save it.
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Stock Item : Reynolds pen
Stock Group : Gel Pen
Stock Category : Stationary
Units of Measures : Pkts
GST is applicable : applicable
Set alter GST Details : yes
Description : Gel Pen
HSN Number : 9608
Calculation type : On Values
Taxability: Taxable
Integrated Tax: 18%
Type of supply : Goods
Opening Balance : 100 ==> Selection showroom Location==>Press enter key for qty ==> Enter Rate (Rs. 50)==> Press enter key twice ==> save it.
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Stock Summary
1. Find out Total Value of the stocks
GWT ==> Stock Summary ==> Alt+F1 ==> Alt+E Export into pdf
2. Verify the stock summary value is updated in Balance Sheet
GWT ==> Balance Sheet ==>Press Alt+F1 Detail and Condensed ==>
3. Find out Total Value of the stocks in P&L a/c
GWT ==> Profit and loss a/c ==> Alt+F1 ==> Alt+E Export into pdf
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