Wednesday, May 9, 2012

What is Stock items in Tally

Stock items

What you receive or issue, Sell or purchase, each item is a Stock Item.  For example, for the Bookshop from you buy this book, this book is a Stock item.  Similarly stock items can be clubbed together and can be called Stock groups.  For example, in a department store of clothes, Gents clothes can be a group having Pants, Shirts, Coats, etc., for under that category.  Similarly for Ladies and Children.

Usually Stock Items are measured in a Unit, e.g., Pcs, Kg, Ltr, etc.  Different items may be measured in different units.  You can create Unit of Measurement as per your business need.  You can specify the Unit in which the item is transacted-normally one Unit.  However, some items may be transacted in 12 units also called dozens.

Tally allows you to specify upto 2 Units for a single Stock Item, one as Unit and the other as Alternate Unit, you define relationship between the two Units.

A company has usually many places to store inventory items, they are called Godowns normally.  Each godown has its inventory and that when combined with inventory of other godowns give the complete picture of the company’s inventory.  This helps in locating an item which may not be there at one location, then, it can be transferred from other godown where it is there.

Tally allows you to create Stock items as per your requirement, its alternate Name (Aliases), Part Numbers, Description, Remarks, etc.  You can optionally maintain Batchwise details, enter Purchase and Sale prices, specify Stock Valuation Method for an item.

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