Inventory is the total amount of goods and/or materials contained in a store or factory at any given time. Store owners need to know the precise number of items on their shelves and storage areas to place orders or control losses. Factory managers need to know how many units of their products are available for customer orders. Restaurants need to order more food based on their current supplies and menu needs.
SOME IMPORTANT FEATURES AVAILABLE IN THE INVENTORY MODULE ARE:
Multi-location Stock Control:
Use Tally.ERP 9 to keep track of your stock at single or multiple locations.
Comprehensive Recording of Stock Movement:
Record inventory transactions easily and comprehensively using Goods Receipt Notes, Delivery Notes, Stock Transfer Journals, Manufacturing Journals as well as Physical Stock Journals. All stock movements are fully recorded and maintained in Stock Registers.
The Movement Analysis report gives the party-wise details of goods bought and sold and helps identify good and bad business partners. Stock Query is a unique single-sheet report that gives information on stocks at different locations as well as total stock-in-hand.
Aging stock Analysis:
This report identifies old stocks to aid in decisions relating to their quick disposal.
Batch-wise or lot-wise Inventory with Expiry:
You can use the concept of Batches or Lots to track stock at the batch level, with expiry date support.
Know your stock order position with the comprehensive Order Status reports in Tally.ERP 9. Specify reorder levels and minimum reorder quantity in absolute quantities or based on previous consumption. In Tally.ERP 9, you can configure and use the following depending on your requirement:
Stock categories: Stock Category offers a parallel classification of stock items. Like stock Groups, classification is done based on similarity in behavior. The advantage of Categorising items is that you can classify the stock items (based on functionality) together – across different stock groups, which will enable you to obtain reports on alternatives or substitutes for a stock item.
Multiple godowns: Locations/Godowns are places where Stock Items are stored. You can monitor the location-wise movement of stock by creating multiple Godowns. Tally.ERP 9 permits the creation of any number of godowns, under groups and subgroups to match the structure you need.
Stock transfers to Locations/godowns: In Tally.ERP 9, Stock Transfers are recorded using Stock Journal Vouchers and are used to make stock adjustments. For example, to record any increase or decrease in stock due to shortage, wastage of stock, or to record inter-godown transfers of stock, assembling, or disassembling. It can be used to reflect the status of godown-wise stock. Additional costs incurred during stock transfer can also be tracked. This adds up to the value of the stock but does not get reflected in the accounts.
Stock query by stock group, or stock category:
Stock Query is a statement that provides all the information related to a particular Stock Item such as:
- Closing balance and its value.
- Cost price and Standard selling price of the product.
- Last purchase details such as date, party, quantity, and rate.
- Information about last sales – date, quantity, rate, sales party, etc.
- Warehouse details.
- Stock items under similar categories etc.
Point of Sale (POS): POS is an acronym for Point of Sale. Point of Sale could mean a retail shop, a check-out counter in a shop, or any other location, where a sales transaction takes place. The various POS equipment used in retail outlets is Cash registers, card readers, and barcode scanners. It is a computerized Cash Register that adds the sales total, computes the State sales tax or VAT, calculates the change from the money tendered, and automatically adjusts the store’s inventory.