All business enterprises maintain several Godowns to store their products. It is essential to maintain the summary of the products that are present with the company. The summary report enables the organisations to make appropriate analyses of the stock available with the company. This, in turn, guides them to make requisite purchases and sales. Let's understand the various steps related to recording and reporting of stock details related to Godowns in Tally.
Did You Know? The physical verification of stock can be conducted often using two methods:- Annual Physical Verification and Perpetual Inventory control.
How to obtain Location or Godown stock Summary?
Tally ERP 9 provides you with a summary report of all the stock items available across the Godowns in the Godown/ Location Summary report. In addition to the Godown Summary report, Tally.ERP 9 provides you with other meaningful reports. These help you to view all the Godown-related details. Some of these details include the Stock summary, Batch summary, and Stock ageing analysis.
Given below are the various steps to access the details:
- Open the Gateway of Tally and click on Display
- This will open "Statements of Inventory" that will display "Inventory Info." where you need to select "Godowns"
- This screen will display Single Godown and Multiple Godowns that provide three options:- Create, Display, and Alter.
- To view the report of these Godowns, select the Display option. Here, you will be able to view the location details on this screen.
A screen will appear with the Godown or Location Summary Report displaying the stock summary for each Godown including the stock's closing balance. The report will provide a summary of the stock present in all the Godowns. This will be depicted in the predefined sequence as soon as you select the parent Godown, provided you have created Godowns in a hierarchy.
Also read: How to Generate, Print, and customize GST invoice In Your Tally ERP9
How to see Godown-wise stock in Tally in a consolidated manner?
- The stock statement is often used as stock verification in case of cash credit obtained from the Banks in respect of a stock which is kept as security with the Banks. Therefore the monthly stock statement is submitted to the bank. The monthly stock statement format in word file includes details regarding the purchase, sales, stock consumed, and closing stock as per the Net Realisable value enabling the banks to make a true and correct analysis of the borrowing company's stock position.
- The organisations can get consolidated reports of the stock maintained at the Godowns. The consolidated report of the stock of all the Godowns can be obtained if the stock items have a similar unit of measurement for more than one Godown. The report will present the consolidated rate, quantity, and total value of the stock present in all Godowns. If the stock items have different measurement units then the report will bifurcate those stock items based on rates and quantity along with the value of the stock in those Godowns.
- You can expand the report by clicking on Shift and Enter together to get the report in detail of all the hierarchy pre-defined in the system. You can further expand the provided sequence to get the further analysis of the stock by clicking on Press Shift and Enter.
The second level of data for the stock can be obtained by pressing the Enter key.
- After completing the expansion of the report to the last level, you can open the monthly stock summary report by clicking on Enter key.
- Click on Alt and F1 (Detailed) to get the Godown/ Location stock summary report to get the second level of data for Godowns present in the report. Use F12 for configuration of settings to "Expand all levels in the detailed format" to check all levels of data for the provided Godowns.
- You can alter the master by clicking Ctrl and Enter on any of the selected Godowns appearing in the report to make any alteration.
- To customise the report for different periods, click on F2 in the Godown stock summary report to enable the report for the specified period.
- To change the company, Click F3 to get the report for another company. Click on Esc to return to the previous company
- To get a report of a specific Godown, click on F4.
- You can check the profitability of the outward stock together with the stock consumed by pressing F7. This statement enables the reconciliation of the closing balance of stock which is arrived at after the reduction of the value of stock consumed in outward supply and internal usage. To remove the profit calculation from the report, click on F7.
How to compare more than one attribute of the Customer's Business data?
- Tally ERP 9 enables you to make the comparison of data for several companies, their Godowns, periods (weekly, quarterly, monthly, and annually), valuation methods (net realisable value, purchase cost, or fair market value), and many more attributes by enhancing the columns in the report.
- For Instance, if you want to get the analyses of the quantity and stock value in various Godowns in the same report, you need to click on Alt and C in the same Godown summary report and select the particular Godown whose detailed analysis is required.
- Click on Alt-N to get the same columns of the report appearing on the screen for the specified period. For comparing the data of more than one company by using Alt-N (Auto-column function), you can select the company from the list of options. However, the companies can be altered and added to the report only when you have opened two or more companies. For alteration of columns, use Alt-A and for deletion, use Alt-D.
Also read: Learn About Contra Entry: Definition, Examples and Format
How to obtain Inventory and Accounting reports?
While making an in-depth analysis of the stock held by the companies during the year-end or any other period of the year, you need to access various other types of information. Some of this includes the issuance of stock, the stock consumed, stock received from the creditors, amounts receivable and payable in respect of sales and purchases, cash flow statement among many others. This enables you to keep track of all losses, accidental or otherwise, while conducting business. This will further enable the organisation to control any deviations accruing at the operational level.
Thus while studying the Godown Summary report, you can open the Inventory and Accounting reports. Let's understand how it can be opened and what information can be obtained from these reports:
- Click on F9 to open the Inventory Report to get a view of different Inventory reports such as Stock Summary, Movement Analysis, Stock Query, and many others.
- Click on F10 for getting Accounting Reports such as Daybook, Sales Register, Balance Sheet, Profit and loss account, and much more.
How to add and remove the specific information in the report?
You can customise the stock report as per your preference. You can specify the information you need by clicking on F12 such as quantities, rates, values, stock inwards and outwards, opening and closing balance of the stock, gross profits, and much other information.
For instance, many organisations create Godowns in tally but don't undertake any transactions such as storing stock items or any other items. The summary report doesn't reflect the unused Godowns by default when you primarily view the report for all the Godowns. By configuring the settings F12, you can alter the report to include those unused Godowns and the availability of stock in them.
Click Alt and F12 for selecting the range in terms of the period to remove the masters present at the upper level in the sequence of the present report.
Click on Ctrl and F12 for setting values to remove the vouchers based on specified conditions. For instance, to view the details of Godowns from where the sales had been made, you can use the Value Filter and configure the voucher condition to sales.
How to open a Godown Monthly Summary report with different details?
The monthly stock statement is used to keep the track of the stock consumed, purchased, and sold. This further enables you to keep track of the stock position in the company. It helps the purchasing department to make decisions for the procurement of the various goods from the market. They can plan their purchase activities as per the stock position in the Godowns. The organisation can also analyse the normal or abnormal loss and implement appropriate strategies to control the avoidable loss of the material. The closing stock declaration letter is utilised by the company to submit to the lenders with whom the stock has been mortgaged, at the month-end as an assurance activity. The closing stock declaration letter format can be similar to that of the stock statement specified earlier.
The monthly report generated in Tally will reflect the month-wise details of inward and outward supplies of the stock along with the closing value of the required stock item present in the specified godown. You can change the presentation of data in the report required for making effective analysis by pressing F12 or using the buttons present at the right button bar.
- For viewing the monthly stock report for a particular stock item present in the godown monthly report, you need to click on F4.
- For viewing quarterly or monthly details for obtaining a godown summary, click on Alt-F5.
- The information regarding outward supplies including internal consumption on a Gross Profit basis can be obtained by clicking on F7.
How to create Godown/ Location Vouchers?
The stock voucher entries provide the details of the day-to-day purchases, sales, and consumption. You can open the Godown or Location Vouchers Report by further opening the monthly stock report.
The list of vouchers including the specific item present in the godown can be viewed in the report. Similar to the other reports, the configuration can be done by clicking on F12 or clicking on the buttons present on the right-hand side button panel that changes the data presentation of various attributes of the report required to make the statistical analysis.
Other Configuration functions in Godown vouchers:
- Click on F4 and pick up the godown whose items are required to view in the godown appearing on the screen
- To view the details for different periods such as quarterly, monthly, and annually and to keep track of the daily stock movements for several Godowns, click F6.
- Gross-profit analysis can be obtained in the vouchers of the material consumed by pressing the F7 key.
- For alteration of stock details in the master screen for obtaining the voucher report, click on "S".
Also read: Journal Voucher in Tally - Examples, & How to Enter Journal Vouchers in Tally
Conclusion:
The above details clearly state that you need to make a proper analysis of all activities conducted across the organisation. Tally ERP.9 helps you to understand specific areas of progress where your staff is making progress as well as areas which require improvement. Maintaining efficient control of stocks results in increased efficiency, higher productivity, improves the accuracy of inventory orders, resulting in more customers as well.
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