Inventory, especially for a manufacturing concern, is a substantial investment of its working capital. Data, information, and Reports help businesses make quick and factual decisions rather than intuition. In this article, we will understand the inventory reports in Tally 9.
For your analysis and use, various inventory reports are prepared and generated by Tally ERP 9. These can provide useful insight on inventory movements, cost analysis, consumption patterns of different inventory items in production processes, Order status, etc.
Did you know? Tally ERP 9 can provide a stock summary for multiple godowns and a combined summary of inventory items and their consumptions at each location.
What Is Inventory Report in Tally 9?
The reports and statements under Tally ERP 9 are not made from individual data entries. Rather, they are completely made from the underlying accounting journal entries, vouchers, ledger entries, or any sort of accounting data entry. The reports will portray the same picture if the underlying accounting and inventory are incorrect or incomplete. Thus, before accessing any reports or statements under Tally ERP 9, make sure that the accounting entries depict the true and correct view of the affairs of the business.
Inventory Report in Tally ERP 9 provides an insight for flow characteristics of the stock in an organisation. It also helps to find the slow moving items which cause blockages in the flow of the working capital of the organisation.
Also Read: What Are the Uses of Tally ERP 9 in Business?
How to View the Inventory Reports?
Several reports can be prepared and generated via Tally ERP 9. Below are a few of them:
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Stock Summary Report
Stock Summary Report, as the name suggests, is the summary of different inventory items in the form of raw material, work in progress, finished goods, loose tools, etc. From this report, you will also get the closing balance of each inventory item at a point in time divided into quantity, rate, and value.
Further, you could also analyse the consumption patterns of different inventory items in production. Apart from this, you could also observe the inventory lost in transit and other production wastages and leakages by reconciling the opening, purchase, and closing balance called stock flow.
To access Stock Summary Report, follow the given below steps
Step 1: On the Gateway of Tally under Report, Click on Stock Summary or simply press S on the keyboard
Step 2: A window appears on the screen showing the inventory summary.
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Movement Analysis Report
Movement Analysis Reports are used by businesses to analyse the flow of various inventory items in the production, testing, and assembly processes. This report is also used to understand the inventory consumption in producing different articles and processes. The report gives insight into the flow of inventory items from procurement to its consumption. Based on this report, Businesses plan their minimum stock level to be maintained at all times and the reorder quantity. After that, these data are used to plan the procurement strategy.
To access Movement Analysis Report, Follow the given below steps :
Steps 1: On “Gateway of Tally” under “Reports”, click on “Display” or press “D” on the keyboard
Step 2: After that, a new window will appear on the screen; choose “Inventory Books”
Step 3: Under “Inventory Book”, Click on “Movement Analysis”, and on the screen, various options will appear. These are all movement analysis reports. Choose the appropriate report for your analysis based on your need.
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Godown Summary Report
It is for when you have multiple places of business from where you conduct your business operations. This option will be of your most help as you can view the closing balance of various inventory items at various godown locations. Though it is a condensed summary report of the inventory items, you can still check the total value of the items at different godown locations, the quantity available, and the rate at which they were purchased.
Steps to access the Godown Summary Report. are given below:
Step 1: On “Gateway of Tally” under “Reports”, Click on “Display” or press “D“ on the keyboard to continue
Step 2: From the window that appears, click on “Statment of Inventory”
Step 3: Then, choose “Godown” to continue
Step 4: On the current screen, you can see a summary report of the closing balance of various inventory items at different godown locations
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Stock Items Report
Based on the data entry, you can analyse items of inventory movement in the business. This report also shows you the zero-value items. From the report, you can analyze the various inventories purchased and their consumption in various products or different processes. Based on this report, you can view the stock leakages and wastages in the production process or transit.
Steps to access the Stock Items Report are as follows:
Step 1: On the “Gateway of Tally” under “Report,” Click on “Stock Summary” or simply press “S” on the keyboard.
Step 2: From the screen that appears, choose “Inventory Books”
Step 3: Select a stock item from the given options
Step 4: Now, the current window shows you the stock items report where you can notice the stock flow
Also Read: The TallyPrime Edit Log Feature for Audit Trail — How it Works?
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Stock Item Movement Analysis Report
Under this stock statement in tally, you can see the inward and outward movement of stock items. You could see how the inventory items are utilised in the entity and their values and quantity in the godowns. You can also see the supplier-wise details of every stock item and their consumption patterns in production.
To access Stock item movement analysis, follow the given below steps:
Step 1: On the “Gateway of Tally” under “Report”, Click on “Stock Summary” or simply press “S” on the keyboard
Step 2: From the screen that appears, choose “Inventory Books”
Step 3: From the various options that appeared, choose “Movement Analysis”
Step 4: Under movement analysis, choose Stock item analysis
Step 5: There, the Stock item analysis Report will appear on the screen stating descriptions of inventory items in two parts one is movement-inward and movement-outward.
Also Read: Benefits of Using TallyPrime for Banking
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Transfer Analysis
Usually, businesses create separate stock journals for every movement of the inventory item, and transfer analysis gives a clear picture of the movement of each inventory item in the entity. Under the stock journal, the movement of inventory items is recorded as Goods in production and Good out, which is consumption. In such a case, Transfer analysis offers a clear analysis of these inventory items.
To access the Transfer Analysis Report, follow the given below steps -
Step 1: On the “Gateway of Tally” under “Report”, Click on “Stock Summary” or simply press “S” on the keyboard
Step 2: From the screen that appears, choose Inventory Books
Step 3: From the various options that appeared, choose Movement Analysis.
Step 4: Under movement analysis, choose Transfer analysis
Step 5: Select the manufacturing journal; there, you can see Transfer Analysis Report.
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Accounts Group Movement Analysis
In accounts, various items are presented under a representative name, and all the dues from various customers are named as Debtors. Similarly, Money owed to various suppliers are named Creditors. Thus, even various inventory items are grouped under a particular account name. These are not separately created, but they are grouped while creating vouchers.
To access the Accounts Group Movement Analysis report, follow the given below steps -
Step 1: On “Gateway of Tally” under Reports, Click on Display or press “D” on the keyboard to continue
Step 2: From the window that appears, click on “Inventory Books”
Step 3: Then, choose “Group Analysis” you will see the Accounts Group Movement Analysis in the next window.
Step 4: After that, on to the next window, you will see the Accounts Group Movement Analysis report stating various particulars and groups of inventory items and their closing balance.
Also Read: Important Guide on How To Take Backup In Tally ERP 9 For Knowledge
Conclusion:
Management of a business organisation may use inventory reports to improve inventory management and track the movement of various inventory items within the entity and their consumption patterns. Apart from it, these reports also briefly describe the inventory wastages during transit or in the production process.
Through the Transfer analysis reports, Businesses can track the inventory items at various production stages. These reports also give you an idea of the level of inventory at different godown locations. This information is used by management to improve the supply chain management of the business. It results in the improvement of the overall value chain of the customer. Do check out various inventory questions in Tally down below!
You can use the Biz Analyst application to manage your business effectively. It syncs with Tally data making it easy to access even if you’re offline or on the go. You can manage the accounts, create ledger entries, access business reports, and more to keep your business on the right track.
