Question

How to create a stock item in tally​

Answer 1

Answer:1. Go to Gateway of Tally > Inventory Info > Stock Item > Create (under Single Stock Item)

2. Specify the Name of the Stock Item.

3. Specify the Alias name of Stock Item (if required).

4. The field Under will show the List of Groups . Here you can select the Stock Group to which the Stock Item belongs. By default, Primary Stock Group appears in this field.

Note: You can create a new stock Group by pressing ALT+C at this field.

5. This field will show the Unit List. Here you can select the Unit of measure (UoM) applicable for the stock item. By default, Not Applicable appears in this field.

Note: You can create a new UoM by pressing ALT+C at this field.

For stock items without UoM, the cursor will not move to the Quantity field during voucher entry.

6. Specify the Rate of Duty applicable for the stock item. This field is used for the calculation of excise duty or if duty is based on item rate. During Invoicing, whenever you select a Stock Item, the Rate of duty entered here is displayed in the Invoice creation screen.

Note: In F11 Inventory features, if the option Enable Invoicing is set to No then Rate of Duty field will not be visible.

7. Specify the Tariff Classification for the item, if applicable. Tariff Classification can be created or used when Excise features is activated for the company.

8. Specify the details of Opening Balance , if any, for the Stock Item as on the date of Beginning of Books.

o In the Quantity Field, specify the stock item Quantity, say 5 Nos.

o In the Rate field, specify the stock item Rate, say Rs. 8000 per piece.

o In the Value field, Tally.ERP 9 automatically calculates the value by multiplying the Quantity and Rate. You can also edit the value, Tally.ERP 9 automatically refreshes the Rate field accordingly.

Note: If Unit field is Not Applicable then the cursor will move from Quantity and Rate Field.