11. Creating Inventories in tally

Now every business is not a manufacturing unit, it can also be a reselling unit which purchases goods from a business and sells the same to its customers/retail outlets.

Now consider a business which sells clothes, drinks and devices than these are considered as groups in tally, one group may have sub group like devices may have spare devices and working devices
under each groups you have several items like under clothes you have blue cloth, green cloth, yellow cloth similarly under drinks you have certain items like Coca Cola, pepsi, fanta but under devices you may have sub groups because the items coming under devices will be divided into two sub groups working devices and spare devices, so under working devices sub group you may have items like computers, calculators, washing machine and under spare devices sub group you may have motherboard, mobile components as the items

A) Clothes, B) Drinks & C) Devices

Items under each group
A) Clothes: Blue cloth, yellow cloth, green cloth
B) Drinks: Coca Cola, pepsi, fanta

the group named “devices” has sub groups
C) Devices: C.1) Spare devices & C.2) Working devices

Items under the sub groups
C.1) Spare devices: motherboard, mobile components
C.2) Working devices: Computers, calculators, washing machine

how to create groups
To create such groups its better to create multiple groups in tally instead of creating one group at a time, following are the steps
go to Gateway of tally, inventory info., stock group, multiple stock group and enter a name say primary for your business or any other name
then start entering the 3 main groups Clothes, Drinks and devices under primary and for “items are addable” option say “yes” only for clothes and drinks as certain items come under them but for devices say no because under devices you have sub groups instead of items
then you need to create two sub groups which comes under devices so again go to Gateway of tally, inventory info., stock group, multiple stock group and select devices and then under this group enter the sub groups spare devices and working devices and for “items addable” option say “yes” for both the groups as items comes under them

how to create units of measure for each items
now you need to create stock items but before you create them you need to create “units of measure” to later measure your items
as you see under cloth we have 3 items

go to Gateway of tally, inventory info., unit of measure and select create
now you know clothes are measured in pieces so for “symbol” enter its short form “pcs” and for “formal name” enter pieces
similarly for drinks “symbol” is bts and “formal name” is bottles
for devices “symbol” is nos. and “formal name” is numbers

how to create godowns
godown is the place where your company keeps the stock items, like some stock items will be kept at one place while others will be kept at other places

in order to create a godown first you need to enable godown in tally, while you are in gateway of tally, click on the features button on the button bar or hit “F11” and select inventory features and say yes for the option “maintain multiple godown”

and then go to inventry information now you will see the godown option click on it and select to create multiple godowns, you can create a godown with the main location as say Maharashtra and then under it you can enter Mumbai and Pune as your two godowns

how to create stock items
to create stock items in tally go to Gateway of tally, inventory info., stock items and select create under multiple stock items as its an easy method

now for the “under group” option select the very first group which you had created earlier that is Clothes and then start entering the name of each items what come under clothes like blue cloth, green cloth and yellow cloth and as you enter each of them select the units that is pcs (pcs is units of measure which you had created earlier) for cloth and then enter the quantity like how many green clothes you have say 500, now select the Godown where you have kept that item, and then enter a rate which is the cost of that item, say each green cloth costs you Rs 100 then enter 100 and now the amount 100 will automatically be multiplied with 500 and you get the total amount as Rs. 50000, continue the same thing for all the items which come under drinks, spare devices and working devices

tags: deleting company learn tally 7.2 demonstration education classes tutorials course purchases sales journal contra godowns debit credit bank money fund financial accounting
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jewelery11. Creating Inventories in tally