Inventory Info option is available for each company by default for the latest version of Tally.  Inventory Info is used to create different master items like Stock Groups, Items, Units of Measurement and Godowns etc to maintain Inventory particulars.

Gateway of TallyàMastersàInventory Info

Options in Inventory Info Menu:

Stock Groups

Stock Items

Units of Measurement

There will be no pre-defined items available for Inventory Info.

Stock Group: This is the common name identifying a variety of stock items.  Generally it will be a product name.  Eg: Television, Refrigerator etc

Options in the Stock group creation screen:

Units of Measurement: It is the measurement system by which the quantity of your stock item is being traded or valued.

Eg: Kgs, Ltrs, Mtrs, Units, Pcs, Boxes etc.

Stock Item is a single item particularly of a model or brand.

Eg: 23” Wide Sony LED, 7Kg FrontLoad Haier Washing Machine

Before creating stock item, make sure whether its relevant Stock Group and units of measurements are already created.

A stock item created without selecting any group belongs to primary group.

And when an item created without selecting units of measurement, we cannot enter quantity and unit price for it except total value.

Units can be 2 types:

Single: when only one unit is used for receipt or issues

Compound: when two different units are used for receipts or issues

Example:

First Unit                         Conversion Factor           Second Unit

Dozen                              12                                    Pcs

Meter                               1000                                Millimeters

Box                                  30                                    pcs

Options in Configuration Menu for Inventory Master (Press F12 being in Stock Item creation)

1.company creation–>accounts with inventory

2.Gateway of tally–>Inventory Info–>stock groups

3. Inventory info–>units of measure
4. inventory info–>Stock items
5. Accounts info–>Ledgers
6. Accounting Vouchers
7. Enter both purchase and Sales vouchers in Invoice mode
8. Check Reports

  Gateway of Tally–>Stock Summary

  Display–>Inventory Books

  Display–>Statements of inventory

Inventory Books:

Stock Item

Group Summary: closing balance of stock items along with their rate per unit and value.

Stock Transfers: displays entries made using stock journal voucher

Physical Stock Register: used to record actual stock available i.e. stock found by conducting a stock check. 

Movement Analysis: shows movement of a particular product

Ageing Anaysis : displays receivables (pending amount) from various debtors and their aging.