Create stock items one-by-one

Create stock items one-by-one

Stock items are goods that you manufacture or trade (sell and purchase). It is the primary inventory entity. Stock Items in the Inventory transactions are similar to ledgers being used in accounting transactions.

1. Go to Gateway of Tally > Inventory Info. > Stock Item > Create (under Single Stock Item ).

2. Enter the Name of the Stock Item.

3. Enter the Alias name of Stock Item (if required).

4. The field Under will show the List of Groups . Here you can select the Stock Group to which the Stock Item belongs. By default, Primary Stock Group appears in this field.

Note: You can create a new stock Group by pressing Alt+C at this field.

5. This field will show the Unit List . Here you can select the Unit of measure (UoM) applicable for the stock item. By default, Not Applicable appears in this field.

Note: You can create a new UoM by pressing Alt+C at this field. For stock items without UoM, the cursor will not move to the Quantity field during voucher entry.

6. If VAT is enabled, set VAT

7. Specify the Rate of Duty applicable for the stock item. This field is used for the calculation of excise duty or if duty is based on item rate. During Invoicing, whenever you select a Stock Item, the Rate of duty entered here is displayed in the Invoice creation screen.

Note: In F11: Inventory features , if the option Enable Invoicing is set to No then Rate of Duty field will not be visible.

When Excise features is activated for the company, the option Tariff Classification will appear.

8. Specify the details of Opening Balance , if any, for the Stock Item as on the date of Beginning of Books.

o In the Quantity Field, specify the stock item Quantity.

o In the Rate field, specify the stock item Rate.

o In the Value field, Tally.ERP 9 automatically calculates the value by multiplying the Quantity and Rate. You can also edit the value, Tally.ERP 9 automatically refreshes the Rate field accordingly.

The Stock Item Creation screen appears as shown:

Note: If Unit field is Not Applicable then the cursor will move from Quantity and Rate Field.

Button options in Single Stock Item Creation screen

Note: Category and Godown buttons are visible only if you opted for the same in F11: Features .