Tally - ERP 9: Some Important Features Available in The Inventory Module Are: Multi-Location Stock Control
Tally - ERP 9: Some Important Features Available in The Inventory Module Are: Multi-Location Stock Control
ERP 9
Inventory is the total amount of goods and/or materials contained in a store or factory at any given time. Store owners
need to know the precise number of items on their shelves and storage areas in order to place orders or control losses.
Factory managers need to know how many units of their products are available for customer orders. Restaurants need to
order more food based on their current supplies and menu needs.
Multi-location Stock Control: Use Tally.ERP 9 to keep track of your stock at a single or multiple locations.
Comprehensive Recording of Stock Movement: Record inventory transactions easily and comprehensively using
Goods Receipt Notes, Delivery Notes, Stock Transfer Journals, Manufacturing Journals as well as Physical Stock
Journals. All stock movements are fully recorded and maintained in Stock Registers.
Management Reports: The Movement Analysis report gives the party-wise details of goods bought and sold and helps
identify good and bad business partners. Stock Query is a unique single sheet report that gives information on stocks at
different locations as well as total stock-in-hand.
Aging stock Analysis: This report identifies old stocks to aid in decisions relating to their quick disposal.
Batch-wise or lot-wise Inventory with Expiry: You can use the concept of Batches or Lots to track stock at the batch
level, with expiry date support.
Re-Order Levels: Know your stock order position with the comprehensive Order Status reports in Tally.ERP 9. Specify
reorder levels and minimum reorder quantity in absolute quantities or based on previous consumption. In Tally.ERP 9,
you can configure and use the following depending on your requirement:
Stock categories: Stock Category offers a parallel classification of stock items. Like stock Groups, classification is done
based on similarity in behavior. The advantage of Categorising items is that you can classify the stock items (based on
functionality) together – across different stock groups, which will enable you to obtain reports on alternatives or
substitutes for a stock item.
Multiple godowns: Locations/Godowns are places where Stock Items are stored. You can monitor the location-wise
movement of stock by creating multiple Godowns. Tally.ERP 9 permits the creation of any number of godowns, under
groups and subgroups to match the structure you need.
Stock transfers to Locations/godowns: In Tally.ERP 9, Stock Transfers are recorded using Stock Journal Vouchers
and are used to make stock adjustments. For example, to record any increase or decrease in stock due to shortage,
wastage of stock or to record inter-godown transfers of stock, assembling or disassembling. It can be used to reflect the
status of godown-wise stock. Additional costs incurred during stock transfer can also be tracked. This adds up to the
value of the stock but does not get reflected in the accounts.
Stock query by stock group, or stock category: Stock Query is a statement which provides all the information related
to a particular Stock Item such as:
• Information about last sales – date, quantity, rate, sales party etc.
• Warehouse details.
Multiple stock valuation methods: Tally.ERP 9 allows you to view the effects of different stock valuation methods on
the closing stock value. You can view a columnar display of different stock valuations.
Each stock item can be set up to have a different stock valuation method. In some instances, a particular method of
valuation may be required, for example, to assess the replacement value or saleable value of stock. Tally.ERP 9 displays
stocks in any or all the valuation methods dynamically and simultaneously, without any complicated procedure.
Multiple units of measure: Stock Items are purchased or sold on the basis of quantity. The quantity is measured by
Units. In Tally ERP.9, you can define these quantities as multiples of a unit of measurement, for e.g. dozens, gross,
carton, etc. Citing an example, you could buy 25 boxes of pens with each box containing 12 pens. You could then pack
them into a single carton and sell it as one carton containing 300 pens.
Tracking through receipt notes/ delivery notes/ rejections inwards/ rejections outwards: Tracking number is the
reference to have a link between transactions. For e.g. if Tracking Number is selected in the Receipt Note, the details of
the items are automatically displayed in the Purchase Invoice.
Additional costs incurred on purchase: In many situations, more than one item is purchased where the expense
incurred is charged as a lump-sum amount. However, to give an effective cost including the expense to each of the
items, the additional costs of purchase option is used. This process is automated and allocation of the expense to a stock
item can be done on a predefined basis. Expenses posted using Additional cost on Purchase features, do not affect the
relevant nominal ledger accounts but update the cost of the Stock Item, i.e., the additional costs incurred are updated
without actually affecting accounting, only the stock value goes up.
Movement analysis: Party-wise/ Item-wise/ Stock Group-wise: Movement analysis shows the analysis of only those
inventory transactions which are integrated with the accounts, i.e. inventories which are also recorded in the books of
accounts.
Price lists: Price Lists are useful for orders and invoices. An up-to-date price list helps in decision-making even at the
lower levels of the organization and quickens the sales process. Tally.ERP 9 assists in creating quantity based pricing
with a complex discount structure. Price Lists are available only for inventory items and hence the feature is available
only if inventory and invoicing are activated for the company.
You can have one or more price lists, because you may require more than one price list, when you have different price
structures/levels for different purposes viz., different groups of customers requiring different discounts or dealing in
different products.
Sales and purchase order processing: When the order is received from a customer for the supply of goods, the Items,
quantities, date of delivery, etc., details are given along with the Sales Order Number. Once these goods are delivered,
this Sales Order is tracked for the order Details either in the delivery note or in the sales invoice.
When the order is placed with the suppliers for the supply of goods, the Items, quantities, date of receipt etc., details are
mentioned along with the Purchase Order Number. Once these goods are received, the Purchase Order is tracked for
the Order Details either in the receipt note or in the purchase Invoice.
Define and use Bill of Materials: A Bill of Materials is a list of constituent items along with quantity details that can be
allotted for the manufacture of a certain product, by-product or likewise. This facilitates the immediate reduction in stock
of the item automatically. This process of listing the items that make up another item is made possible in Tally by
enabling the Bill of Materials Facility.
Bill of Material (BoM) is created only for those items that are assembled in-house. For trading items, you do not need a
BoM. Therefore, you need to specify a BoM at the time of creating a Stock Item or when altering its master.
Point of Sale (POS): POS is an acronym for Point of Sale. Point of Sale could mean a retail shop, a check-out counter in
a shop or any other location, where a sales transaction takes place. The various POS equipment used in retail outlets
are Cash registers, card readers and barcode scanners. It is a computerized Cash Register which adds the sales total,
computes the State sales tax or VAT, calculates the change from the money tendered and automatically adjusts the
store's inventory.
Tally.ERP 9 comes with rich features & financial reports that give you the necessary management and control of your
business. A few of these are listed below:
• Funds Flow & Cash Flow reports – help you locate bottlenecks
• Bank reconciliation - keeps your bank books in sync, and identify unclear instruments
• Mark vouchers post dated - these will reflect into the books of accounts only on/after that date
• For needs where reports have to consider a transaction that has not happened (say salaries for this month that get paid
the next month) vouchers (called 'reversing journals') can be marked to 'disappear' for reports post a specific date
• "Scenario" management - helps you with your business forecasting and planning. You can use optional, reversing
journals and memorandum vouchers, to aid in recording provisional entries that are useful for interim reports
• Multiple inventory valuation. You can decide one valuation method for the business, and be able generate financial
reports using any other valuation method - as the statutory method may not be appropriate for your needs, your bankers
and for other decisions
• Cash balances can go negative - you can get warned if this is about to happen, or see reports and make the necessary
corrections
• Several business exceptions are available (negative stocks, negative ledgers) - for you to exercise control over these
activities
• A one-screen business ratios with drill down right up to the transactions - help you to correct course frequently
• Item wise & document wise profitability statements to control revenue leakage and inappropriate pricing
• Internal audits are supported with audit controls - authorized users can mark vouchers as 'audited' and can get to see
reports on changes made post audit, and the name of the person
Accounting
All your accounting requirements are supported. And more. Accounting, also known as bookkeeping, is the recording
and classifying of financial transactions into the books of accounts and associated registers.
Let us look at the some of the 'needs' for which businesses maintain books of accounts:
• Keep the business running - manage receivables & payables, cash, bank...
We have been perfecting this 'simple' recording - accounting - from over twenty years. All this to deliver better, faster and
more flexible ways to fulfill your needs, not just maintain books of accounts. A few examples will illustrate:
• With the entry of a voucher (this is what we call all accounting transactions) all books of accounts, all reports, all totals
& sub-totals are updated instantly. There is nothing more that needs to be done - whether you are inserting a forgotten
entry, or correcting one
• Taxation requirements of all the states of India are available, in the prescribed formats
• Supporting tasks like reminder letters, delayed interest, ageing, bank reconciliation
• Drill down from any report, even the Balance Sheet, right to any voucher or filter and search
• Data entry in the language of the users choice - and report in any other language (from the languages supported)
• Mark vouchers that are draft as 'optional' and convert these to final- with one button click