Lesson 6-Inventory Stock Groups Creations

Inventory Information

The Inventory Info menu, lists the inventory masters like Stock Group, Stock Items, Units of Measure of the company, using which you can create, alter and display the inventory master details.

Go to Gateway of Tally > Inventory Info

Note: The Inventory Info menu is displayed in the Gateway of Tally, if you select Type of company as Maintain Accounts with Inventory in the Company Creation screen.

 Inventory Configurations & Features (F11 & F12) 

Configuration of Inventory

By using F12:Configure, you can enable the required settings of Inventory Masters. By default, the settings pertaining to Inventory Masters are set to No.  If you set them to Yes, the features will be enabled. Typically, they are additional fields that appear during Masters creation which enable you to obtain more information and detailed analyses.

Note: If you press F12 anywhere in the Menu, it will take you to the configuration menu.

Features of Inventory

By using F11:Features, you can enable the various settings under inventory features which determine the information to be entered during transaction entries.

Functions in Inventory Info. Menu 

Inventory information contains the inventory masters. Each master has Create, Display and Alter functions.

These three functions are grouped under:

1.      Single

2.      Multiple

In Single, you can execute the function on one master. In Multiple, you can execute the function on multiple masters.

 

Functions

Create

The Create option is used to create new masters. Any modification to the masters can be done only through the Alter mode.

Display

The Display option is used to view the Master information.  Master information cannot be modified in Display mode.

Alter

The Alter option allows you to view and make the necessary changes to the master information. This does not allow creation of masters. In Alteration mode, you can delete the master. [Press ALT+D for deletion]

Stock Group

Stock Groups in Inventory are similar to Groups in Accounting Masters. They are helpful in the classification of Stock Items.

You can group Stock Items under different Stock Groups to reflect their classification based on some common features such as brand name, product type, quality, etc.

Grouping enables you to locate Stock Items easily and report their details in statements.

Example:

Stock Item	Sub Group	Main Group
Brand A - 19” TFT	Brand A	Grade One
Brand A - 17” CRT	Brand A	Grade One
Brand B - 19” TFT	Brand B	Grade Two
Brand B - 17” CRT	Brand B	Grade Two

You now have ready details of Grade One and Grade Two products, duly classified. You can also view the sub group classification.

Go to Gateway of Tally > Inventory Info. > Stock Groups

Creating a Stock Group

Stock Items are classified into stock groups to reflect their classification based on some community.

To create a Stock Group,

Go to Gateway of Tally > Inventory Info. > Stock Groups > Create (under Single Stock Group)

A brief description on each of the fields in the Stock Group Creation screen follows:

Name

Enter the name of the Stock Group to be created. For example, Grade One.

Alias

Enter additional name apart from primary name [if required]. You can create any number of additional names.

Under

Specify whether it is a primary group or a sub-group of another group, by selecting from the list.

Press Alt+C to create a parent group, if you do not have it in the list.

Can quantities of items be ADDED?

This field pertains to information on measuring the units of the Stock Items that you would categorise under the Stock Group.

The Stock Items categorised under the group should have similar units for them to be added up. You cannot add quantities in Kgs to quantities in Pcs.

Note: You can always go back and reset this option after assessing the units of the items in the group.

Buttons specific to stock group creation:

Buttons                       Shortcut Key               Description & Use

C: Category                 Ctrl + C                       Allows you to Create a Category      

I: Items                                    Ctrl + I                         Allows you to Create a Item

U: Units                      Ctrl + U                       Allows you to Create a Unit

O: Godown                 Ctrl  O                         Allows you to Create a Godown

V: Vch Types              Ctrl  V                         Allows you to Create a Voucher Types

Creating Multiple Stock Groups

Tally.ERP 9 allows you to create Stock Groups using single or multiple options.

To create Multiple Stock Groups,

Go to Gateway of Tally > Inventory Info. > Stock Groups > Create (under Multiple Stock Groups)

Select the parent group under which you want the new groups to be created from the “List of Groups”.

A brief description on each field in the Multi Stock Group Creation screen is given below:

Name of Stock Group

Enter the name of the Stock Group.

Under

If you select any group other than All Items in the Under Group field, then this column is filled in automatically with the selected Group name and the cursor skips this column. This speeds up data entry.

If you select All Items in the Under Group field, the cursor does not skip this field and allows you to enter the parent group for each one of them.

Items are Addable? (Y/N)

You can select whether units of the Stock Items under Stock Group are to be added or not.

Buttons specific to Multi Stock Group Creation screen

Buttons                       Shortcut                     Description

F4: Parent                    Ctrl + F4                     Allows you to change the parent for

all sub groups.  

F8: Skip Details          F8                                Cursor will not go to Column Items are

                                   Addable (Y/N). If Items are addable is to remain the same as specified for further subgroup creation, use this button. The cursor skips the column which speeds up data entry.

C: Category                 CTRL+C                     Allows you to Create a Multi Stock

Category

I: Items                        CTRL+I                      Allows you to Create a Multi Stock Item.

O: Godown                 CTRL+O                     Allows you to Create a Multi Godown

These steps help you to create Stock Groups (Single & Multiple) You can also Display & Alter in these groups as per your requirement. (See below image).