Inventory Accounting & Management

Inventory Accounting & Management

If you deal in goods, of any type, you'll appreciate the Inventory capabilities in Tally.ERP 9

You can comprehensively record all types of inventory transactions, using goods receipt notes, delivery notes, stock journals, manufacturing journals and physical stock journals. All stock movements are fully recorded and maintained in stock registers.

Developed for all manufacturers, distributors, wholesalers or traders a small list of features are briefly described below:

Manufacturers:

• Bill of materials and Manufacturing Journals, to record material conversions
• Compound bill of materials support, for units that contain assemblies
• Multiple locations (godowns)
• Excise for manufacturers, including all documentation and invoice
• Costing for jobs

Distributors & Wholesalers:

• Multiple price lists, with effective dates of applicability
• Use multiple units of measure (say KG's & grams)
• Dual units of measure (say KG's and bags, to support variations as happens in commodities)

Traders:

• High speed billing, with support for POS printers
• Bar code support
• Automatic application of taxes
• Service billing & service tax
• Integrated sales return in bills
• Print bills (and any other document) in the customers language

Common:

• You can choose to de-link the computed inventory value to automatically appear in your financial statements - and enter this figure manually.
• Stock ageing reports, to identify slow and non-moving stocks
• Invoice profitability reports to keep a pulse on sales
• Multi-currency transactions - buy and sell across the world - with integrated forex gain/loss calculations
• Physical stock take records to adjust physical vs. actual stocks
• Maintain batch & expiry details

Integrated/Non-integrated accounting and inventory: With Tally.ERP 9, you have the option to choose closing stock balance from inventory records or from stock ledger account.

If accounts are not integrated with inventory, you can enter the closing stock value manually by creating Stock ledger account. This option has a significant effect on the Balance Sheet and Profit & Loss Account. If set to Yes, it extracts the stock/inventory balance figures from the inventory records and provides a drill down to the Stock registers from the Balance Sheet.

If set to No, it ignores the inventory books figures and picks up the manually entered closing stock balances from the ledger account created. This facilitates the maintaining of accounts and inventory separately.

Stock records often contain compensating errors caused by wrong allocation to items. This feature enables finalisation of financial books without waiting for the reconciliation of stocks.