The law manages all items in stock, which maintains quality, speed, flexibility and cost as a key factor to ensure uninterrupted services known as Tally – Inventory management
There are 5 Types of Inventory
- Raw materials
- Purchased parts and supplies
- Work in progress
- Tools and equipment
- Items being transported
Involves Knowledge of Tally- Inventory Management
- What and how much inventory in the warehouse?
- When to order fresh supplies?
- What and how much was requested, when it was requested?
- Where are stocks stored?
- When and when is the amount of fresh stock received and who?
Reasons for inventories Management
- Improves customer services
- Cost control at purchase
- Cost control during production
- Monitor costs during non-essential transport
- The unexpected change in demand and supplies
Inventory Control Features in Tally.ERP9
Stock groups / Categories: Grouping and categorization of inventory items can be effectively done in the tally.ERP9, depending on different parameters. Several stock reports are provided to give the full picture.Multi UoM
Support: Creating user-specific UoMs and reading reports in the desired UoM Multiple UoM support is provided to view reports in alternative UoM. User-specific UoM can be created and can be converted into the default Unit.
Keep your inventory on multiple warehouses: Tally – Inventory Management supports the creation of multiple warehouses/places/ sheets for storage of items and allows quick and simple tracking of inventory to the last stretch.
Aging Analysis: A stock aging report in Tally.ERP9 gives a detailed duration of the items inherent in the birth. Based on this information a decision can be made to filter the items easily.
Reorder: The reorder report for each inventory item provides the full details of the amount of the minimum order, its balance, the level of re-order, the shortage, and the amount of order that helps maintain optimal stock levels.
Real-time integration with costs: Inventory system in Tally.ERP 9 is fully integrated with all other functions in real time. Pass the “Buy” or “Delivery Challan”, the stock will be updated immediately. Shares are automatically evaluated. Average Cost Estimation, FIFO, ETERNAL FIFO, LATE Cost Per Purchase, LIFO per Year, Perpetual LIFO, Monthly Average Cost, Standard Cost are the valuation methods provided in Tally.ERP9 which allow displaying inventory reports.
The inventory control system provides comprehensive reporting capabilities to maintain inventory status. This can help you create new or improved purchase policies, sales policies, pricing methods, and even enhanced customer service.
- Show stock summary
- Show stock items
- Show group summary
- Stock Category Summary
- Location / Godown Summary
- stock Inquiry
- Stock Costing
- Sales Order Book
- Sales Order
- Purchase Order Book
- Purchase Orders
- Reorder the situation
- Motion Analysis
- Batch Coupons and Batch Summary Reports
- Analysis of stock aging
- Purchase invoices are pending
- Outstanding sales invoices
- Record of stock transfers
- Physical inventory record
- Statistics Inventory Master
All these facilities are provided to keep the inventory under control that’s called Tally – Inventory management and the total costs associated with inventory as low as possible without creating problems. It is an important part of any business that must have a stock of products or objects at hand. It helps reduce inventory under the balance at all times in order to maximize profits. Inventory control can also be combined with cost and task accounting units to help track all inventory related expenses. Tally Training in Chandigarh providing the training of Tally.ERP 9 in Sector 34-A.