STOCK KEEPING UNITS

STOCK KEEPING UNITS

INVENTORY (OR) STOCK CREATION

Inventory (or) Stock creation means creating the product names, counting measure format & company names of the product. There are 3 steps involved in inventory or stock creation. They are

1. Stock group creation (product names)

 •Creating a stock group

•Creating a Sub-Stock Group using

     ♦️Single Stock Group creation method and

     ♦️Multiple Stock Group creation method

2. Units of measure creation (counting measure)

 •Creating a Simple Unit of Measure

 •Creating a Compound Unit of Measure

3. Stock item creation (company names of the product)

 •Creating Stock Items Using Single Stock Item Creation Method

•Creating Stock Items Using Multiple Stock Item Creation Method

A. STOCK GROUP CREATION

Stock group creation means creation of product name.

1. Go to “Gateway of Tally”

2. Select “Inventory Info”

3. Select “Stock Groups”

                                                                      

a) SINGLE STOCK GROUP CREATION:-

      Gateway of Tally                                                                      

 

 Select “create”(Single Stock Group) (Press Enter) 

Select “create”(Single Stock Group) (Press Enter) 

v Creation of Sub-Stock Group

                          

 

                                     

b) Multiple Stock Group Creation:-

1. Go to “Gateway of Tally”

2. Select “Inventory Info”

3. Select “Stock Groups”

4.Under Multiple Stock Groups select “Create”

                                                          

                                                                         

                                                                                                 

                            

     

v Creation of Sub-Stock Group

             

              

B. Units of Measure Creation:-

Units of measure creation means creation of products counting measure format.

1. Go to “Gateway of Tally”

2. Select “Inventory Info”

3. Select “Units of measure”

4. Select "Create" (Press Enter)

                             

                                                                       

v Creation of Compound Unit of Measure:-

1. Go to “Gateway of Tally”

2. Select “Inventory Info”

3. Select “Units of measure”

4. Select “Create”

5. Press ”Backspace” to get the Type field and select “Compound”

6. Press “Enter” or Y to Accept

 

C. Stock Item Creation:-

Stock item creation means creation of Brand Name of the Product.

Given below is the list of products within each television brand that Chandra Televisions deals in and the corresponding Units of Measure.

Stock item name	Brand	Units of measure
Samsung LED TV	Samsung TV	Nos
Samsung LED HD TV	Samsung TV	Nos
Sony Smart TV	Sony TV	Nos
Sony Bravia	Sony TV	Nos
LG 32 INCH TV	LG TV	Dozen of 12 Nos

Based on the information given below the Stock Item Structure in Tally.ERP 9 can be defined as follows

Stock item name	Brand	Units of measure
Samsung LED TV	Samsung TV	Nos
Samsung LED HD TV	Samsung TV	Nos
Sony Smart TV	Sony TV	Nos
Sony Bravia	Sony TV	Nos
LG 32 INCH TV	LG TV	Dozen of 12 Nos

1. Go to “Gateway of tally”

2. Select “Inventory Info”

3. Select “Stock Items”

a) Single Stock Item Creation:-

Select “Create “(Single Stock Item) (Press Enter)

Samsung LED TV
	Against the Field	Action to be performed
	Name	Enter as Samsung LED TV
	Under	Select as Samsung TV
	Units	Set to Nos
Opening Balance leave it Blank

The Stock Item Creation Screen appears as follows

Press Y or Enter to accept the screen

Multiple Stock Item Creation:-

Let us create the following Stock Items at one go using Multiple Stock Items creation option

Stock item name	Brand	Units of measure
LG 32 INCH TV	LG TV	Dozen of 12 Nos
Samsung LED HD TV	Samsung TV	Nos
Sony Smart TV	Sony TV	Nos
Sony Bravia	Sony TV	Nos

Select “Create” (Multiple Stock Item) (Press Enter)

 

EXAMPLE:-

1. ABC&CO started business ₹100,000

2. Purchase furniture ₹20,000

3 .Purchase Machinery ₹12,00,000

4. Purchase 25 Nokia Mobiles @ 6000 for cash

5. Purchase 30 Samsung Mobiles @ 5500 for cash

6. Purchase 20 Lg mobiles @5000 for cash

7. Sales 20 Nokia Mobiles @7000 for cash

8. Sales 20 Samsung Mobiles @6200 for cash

9. Sales 10 Lg Mobiles @5500 for cash

10. Salaries paid ₹6800

11. Wages paid ₹ 1500

12. Carriage inwards ₹1200

13. Carriage outwards ₹2100

14. Commission received ₹5000

Steps

1. COMPANY CREATION

➔   Open Tally Software

➔    press Alt + W

➔   press Alt+F3   to create a new company

➔   Select create company and fill company details

Press Enter

2. LEDGER CREATION

sl.no.	LEDGER	GROUPS
1	Capital	Capital
2	Furniture	Fixed assets
3	Machinery	Fixed assets
4	purchase	Purchase a/c
5	Sales	Sales a/c
6	Salaries	INDIRECT Expenses
7	Wages	Direct Expenses
8	Carriage Inwards	Direct Expenses
9	Carriage Outwards	INDIRECT Expenses
10	Commission received	Indirect Income

                        

A. Stock Group

Create

NAME: Group name (Mobiles)

UNDER: Primary

B. Units of Measure

Type: Simple

Symbol: Nos

Formal Name: Numbers

C. Stock Items

Create

Name: Type Item Name (Nokia mobiles)

Under: Select Group Name (mobiles)

Units: Select Units of Measure (Nos)

4. Accounting Vouchers:-

1. ABC&CO started business ₹1,00,000 èF6

2. Purchase furniture ₹20,000   èF5

3. Purchase Machinery ₹12,00,000 èF5

4. Purchase 25 Nokia Mobiles @ 6000 for cash èF9

5. Purchase 30 Samsung Mobiles @ 5500 for cash èF9

6. Purchase 20 Lg mobiles @5000 for cash èF9

7. Sales 20 Nokia Mobiles @7000 for cash èF8

8. Sales 20 Samsung Mobiles @6200 for cash èF8

9. Sales 10 Lg Mobiles @5500 for cash èF8

10. Salaries paid ₹6800 èF5

11. Wages paid ₹ 1500 èF5

12. Carriage inwards ₹1200èF5

13. Carriage outwards ₹2100 èF5

14. Commission received ₹5000 èF6

F5èPAYMENT VOUCHER

F6èRECEIPT VOUCHER

F8èSALES VOUCHER

F9èPURCHASE VOUCHER