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Inventory Accounting & Management

     

If you deal in goods of any type, you'll appreciate the Inventory capabilities in Tally.ERP 9 developed to cater to manufacturers, distributors, wholesalers or traders.

It lets you comprehensively record all types of inventory transactions using goods receipt notes, delivery notes, stock journals, manufacturing journals and physical stock journals. What’s more, all stock movements are fully recorded in stock registers.

A few features, briefly described:

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 Kgs & grams)
• Dual units of measure (say Kgs and bags, to support variations, typically seen in commodities)

Traders:
• High speed billing, with support for POS printers
• Barcode support
• Automatic application of taxes
• Service billing & service tax
• Integrated sales return in bills
• Print bills (and any other documents) in the customer’s 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 the Inventory function in Tally.ERP 9, you have the option to choose closing stock balance from inventory records or from the stock ledger account.

If accounts are not integrated with inventory, you can enter the closing stock value manually by creating Stock ledger account, for a major 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, allowing the independent maintenance of accounts and inventory.

When faced with compensating errors in stock records caused by wrong allocation to items, this feature allows finalisation of financial books without waiting for the reconciliation of stocks.






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