Tally.ERP9 - How to Create Stock Items in Tally _ Maintain Stock

Hello , friends .

I'm and today we are going to learn creation of stock items in Telly .

I have already created a company and let me show you how I activated inventory features in this software .

I'll go to company info .

All three alter here .

I find I have selected maintain accounts with inventory .

This will help me activate all the accounting features in telly .

Now I go to the inventory masters , inventor info , stock items and create .

Let me create an item HP laptop here in Elias .

I have space to fill short names , short recall names .

Maybe the name of the product is long and I want to recall the name with some code or some simple letters like HPL stands for HPL laptop right now .

Set modified default ledger for invoicing .

This feature is not available at start but by pressing F 12 and specified default ledger accounting for invoicing years .

This feature is activated .

I will also be activating , allow standard rates for stock item .

Yes and other features can also be done as per your requirement and will be shown to you in the advanced version of this video .

I press Yes , here .

Now it is saying default accounting allocations for sales invoice .

It means that when I sell this product HP laptop , it should be posted to which Ledger I've already created some Ledgers and I'll be posting it to sales account 5% which means that the vat on this product will be 5% .

When I sell vat tax class .

This means that the Ledger sales account 5% has been tagged to the vat tax class sales 5% percentage 100% .

It means that the whole amount in this line should go to sales account 5% .

Similarly default accounting allocations for purchase invoice , I will select purchase on 5% .

Which means this vat tax class means that it has been tagged to the vat tax class purchase account purchase at the rate 5% and the whole amount will be posted to the account purchase account 5% .

Now , here I made some groups .

What is the advantage of making the group is that when I recall reports say I want to see the stock ledger , I can either see , see the stock ledger of the whole company or I can see it grow wise .

So the report is filtered and is shown like the Dell laptops , Phillips Samsung , I can see the report only of the Samsung products .

We can create masters respective to the fields from where you give command by pressing alt plus A for example , HP is not in my group .

I want to create a group HP .

What I'll do is I'll press alt plus C enter a group HP .

And now I find that the group HP is here .

I selected , I select pieces again .

If the this unit is not available , I can press out plus a and create the unit in set standard rates .

Yes .

Here , I'll have to put the purchase cost of the product which can be ₹19,000 .

This is without vat and the selling rate is let's assume we have assumption it's ₹20,000 .

Now , these two fields are related to the size functionality in telling .

So when we go to the video , how to make it uh do exercise uh in Delhi , I'll be showing you the relevance of these two fields there .

Commodity that it will be not applicable because currently commodity codes are not being used for vat items in some states .

If they are being used , they can be mentioned here .

And the commodity codes can be uh the units can be created by entering all plus a rate of vat .

I have a rate of vat 5% .

So I enter five opening balance quantity .

If I have any opening quantity , I can enter the quantity here .

And I'll put the rate which is my opening stock rate as shown in the balance sheet of last year , the closing stock balance sheet of the last year .

So today we learned how we can create stock items in telly .

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Thank you .