Explain Inventory Features in Tally?

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 In Tally ERP 9, Inventory features consist of configurations related to inventory transactions and reports.

Inventory features are subdivided into 7 functions, which are as follows:

  1. General
  2. Storage and Classification
  3. Order processing
  4. Invoicing
  5. Purchase Management
  6. Sales Management
  7. Other features

How to start Inventory features

  • Path: Tally Main -> Gateway of Tally -> F11: Features -> Company Features -> Inventory Features or click on F2: Inventory.
Inventory features in Tally ERP 9

How to enable Inventory features

We can enable or disable the options for day to day business transactions using the inventory features. After executing the inventory features, the following screen will display:

Inventory features in Tally ERP 9

Update the following details on Company Alteration Screen:

General

  • Integrate accounts and inventory: If we want to include stock or inventory balances in inventory records, then choose this option as Yes.
  • Enable Zero-value transactions: If we want to allow the zero-value transactions, then choose this option as Yes.

Storage and classification

  • Maintain multiple godowns: If we have more than one storage location and godowns for storing the materials, then enable this option.
  • Maintain stock categories: If we want to define or maintain stock categories, then enable this option.
  • Maintain batch-wise details: If we want to maintain batch-wise details for stock items, then enable this option.
  • Set expiry dates for batches: If we want to maintain the expiry dates for batches, then choose this option.
  • Use separate actual and billed quantity columns.

Order Processing

  • Enable sales order processing: If we want to define sales orders, then enable this option.
  • Enable job order processing: If we want to define the job orders, then enable this option.
  • Enable purchase order processing: If we want to define job orders, then enable this option.

Invoicing

  • Enable Invoicing:
  • Record purchases in invoice mode
  • Use separate discount columns in invoice
  • Use credit or debit notes:
  • Record debit notes in invoice mode
  • Record credit notes in invoice mode

Purchase Management

  • Track additional costs of purchases

Sales management

  • Use multiple price levels

Other features

  • Use material in and out vouchers
  • Use rejection inwards and outward notes
  • Use tracking numbers
  • Use cost tracking for stock item

After enabled or disabled the features, press ctrl+A or choose A: Accept to save the details.