I - MBA I - SEM

TALLY -
LAB

Student Name: -

………………...........................................................

Roll No:

……………………………………………………………………….

Branch:…………………………………….Section:

……………………….

Year: …………………………………….. Semester:

………………………
 I - MBA I - SEM

TALLY - LAB
Reg
d.
No

Certified that this is the bonafide record of laboratory work done in

the laboratory by Mr./Miss. of I - MBA I-

Semester during the Academic Year 2024 - 2025.

Number of Practical Conducted: Number of Practical Attended:

Faculty In-charge Head of the Department

Internal Examiner External Examiner

Submitted for practical examination held on:…………………...

INDEX
 FAC
EX P.N MAR ULT
NAME OF THE EXPERIMENT/TOPIC
P. O KS Y
SIG.
UNIT - 1
1.1 Basic of Accounting
1.2 Type of Accounts
1.3 Rules of Accounting
1.4 Principles of concepts and conventions
1.5 Double entry system, bookkeeping
1.6 Mode of Accounting
1.7 Financial Statements
1.8 Transaction
1.9 Recording Transactions.
1.10. Getting the functional with Tally
1.11. Creation and setting up of company in Tall
UNIT - 2
2.1 Accounting Masters in Tally
2.2 Features
2.3 Configurations
2.4 Setting up Account Heads in Tally
UNIT - 3
3.1 Inventory in Tally
3.2 Stock groups
3.3 Stock Categories
3.4 Go downs / Location Units of Measure
3.5 Stock Items
Creating Inventory Masters for National Trader in
3.6
Tally
Accounting Package - Tally
1.BASIC OF ACCOUNTING:
Accounting : It is an art of recording, classifying and summarizing in significant manner and in
terms of money, transactions and events which are of financial character and interpreting the
results thereof.
Business Transaction : A business transaction is “The movement of money and money’s worth
form one person to another”. Or exchange of values between two parties is also known as
“Business Transaction”.
Purchase : A purchase means goods purchased by a businessman from suppliers.
Sales : Sales is goods sold by a businessman to his customers.
Assets : Assets are the things and properties possessed by a businessman not for resale but for the
use in the business.
Liabilities : All the amounts payable by a business concern to outsiders are called liabilities.
Capital : Capital is the amount invested for starting a business by a person.
Debtors : Debtor is the person who owes amounts to the businessman.
Creditor : Creditor is the person to whom amounts are owed by the businessman.
Debit : The receiving aspect of a transaction is called debit or Dr.
Credit : The giving aspect of a transaction is called credit or Cr.
Drawings : Drawings are the amounts withdrawn (taken back) by the businessman from his
business for his personal, private and domestic purpose. Drawings may be made in the form cash,
goods and assets of the business.
Receipts : It is a document issued by the receiver of cash to the giver of cash acknowledging the
cash received voucher.
Account : Account is a summarized record of all the transactions relating to every person, every
thing or property and every type of service.
Ledger : The book of final entry where accounts lie.
Journal entries : A daily record of transaction.
Trail Balance : It is a statement of all the ledger account balances prepared at the
end of particular period to verify the accuracy of the entries made in books of
accounts.
Profit : Excess of credit side over debit side.
Profit and loss account : It is prepared to ascertain actual profit or loss of the business.
Balance Sheet : To ascertain the financial position of the business. It is a
statement of assets and liabilities.
 Accounting Package - Tally

2. TYPES OF ACCOUNTS:
Personal account: Personal accounts are the accounts of persons,
firms, concerns and institutions which the businessmen deal.
Real Account: These are the accounts of things, materials, assets & properties. It has physical
existence which can be seen & touch.
Ex. Cash, Sale, Purchase, Furniture, Investment etc.

3. GOLDEN RULES OF ACCOUNTING:

Golden Rules of Accounting
With the above understanding, let us introduce the golden rules of accounting. Golden rules of
accounting refer to a set of pre-defined principles which guides the sequential way of recording the
transactions using double entry system of bookkeeping.

Golden Rules of Accounting

Real Account Personal Account Nominal Account

Debit What Comes In The Receiver All Expenses & Losses

Credit What Goes Out The Giver All Income & Gains
Looks bookish? Let us make it simpler with What, Who and Why -

What (Real) Who (Personal) Why (Nominal)

Examples Goods, Furniture, Firm, Person, Company Interest, Commission,

Money Discount

Debit Comes In Receiver For expenses

Credit Goes Out Giver From Income

Example of the Golden Rules of Accounting
In the below example, we have listed different type of transactions along with the type of accounts
and details of debit/credit after applying the accounting rules.
Accounting Package - Tally

Accounting Type of
Sl No. Accounts Involved Debit/ Credit
Transaction account

Mr Sham started a
Cash A/c Real Debit what comes in
1. business with
Capital A/c Personal Credit the giver
Rs.60,000 cash.
2.
Purchased goods for Purchase A/c Real Debit what comes in
cash 25,000 Tk Cash A/c Real Credit what goes out

Cash A/c
Sold goods for cash Real Debit what comes in
3. Sales A/c
20,000 Indo Rupiah Real Credit what goes out
( Inventory sold )

Purchase A/c
Purchased goods from
(Inventory Real Debit what comes in
4. Mr Bhasha for cash
Purchased) Real Credit what goes out
10,000 dirham
Cash A/c

Mr Sam A/c
Sold goods to Mr Sam Personal Debit the receiver
5. Sales A/c
8,000 KES on credit. Real Credit what goes out
( Inventory sold )

Purchased furniture for Furniture A/c Real Debit what comes in

6.
Rs.6,000 Cash A/c Real Credit what goes out

Rent A/c Nominal Debit expenses

7. Paid rent 1,500 Tk
Cash A/c Real Credit what goes out

Paid wages 10,000 Indo Wages A/c Nominal Debit expenses

8.
rupiah from Bank Bank A/c Real Credit what goes out

Purchase A/c
Purchased goods from ( Inventory Real Debit what comes in
9.
Ali Ltd on credit purchased ) Personal Credit the giver
Ali Ltd

Dividend received in Cash A/c Real Debit what comes in

10.
cash Dividend Nominal Credit income
Accounting Package - Tally

4. PRINCIPLES OF CONCEPTS AND CONVENTIONS

Accounting Concepts

1. Business entity concept: A business and its owner should be treated separately
as far as their financial transactions are concerned.
2. Money measurement concept: Only business transactions that can be
expressed in terms of money are recorded in accounting, though records of other
types of transactions may be kept separately.
3. Dual aspect concept: For every credit, a corresponding debit is made. The
recording of a transaction is complete only with this dual aspect.
4. Going concern concept: In accounting, a business is expected to continue for
a fairly long time and carry out its commitments and obligations. This assumes that
the business will not be forced to stop functioning and liquidate its assets at “fire-
sale” prices.
Accounting Conventions:

There are four main conventions in practice in accounting: conservatism;

consistency; full disclosure; and materiality.

Conservatism is the convention by which, when two values of a transaction

are available, the lower-value transaction is recorded. By this convention,
profit should never be overestimated, and there should always be a
provision for losses.

Consistency prescribes the use of the same accounting principles from one
period of an accounting cycle to the next, so that the same standards are
applied to calculate profit and loss.

Materiality means that all material facts should be recorded in accounting.

Accountants should record important data and leave out insignificant
information.
Accounting Package - Tally

5. DOUBLE ENTRY SYSTEM, AND BOOKKEEPING:

DOUBLE ENTRY SYSTEM:

Double-entry accounting can help improve accuracy in a business’s financial

record keeping. In this guide, discover the basics of double-entry
bookkeeping and see examples of double-entry accounting.

Many companies, regardless of their size or industry, use double-entry

accounting for their bookkeeping needs because it provides a more
accurate depiction of their financial health. This bookkeeping method also
complies with the US generally accepted accounting principles (GAAP),
the official practice and rules for double-entry accounting.

BOOKKEEPING:

Bookkeeping is a task concerned with the recording of financial data relating to business operations
in a significant and orderly manner. It envelopes all the procedural aspects of accounting work and
Accounting Package - Tally
embraces record-keeping function. In this article, we have discussed the list elements of
bookkeeping and instance of entries which becomes part of bookkeeping.

6. MODE OF ACCOUNTING OR TYPE OF ACCOUNTING METHODS:

The two primary methods of accounting that differ in when income and expenses are
recognized are as follows

 Cash Accounting Method

 Accrual Accounting method

Cash Accounting Method

Under the cash accounting method, transactions are recorded only when money
changes hands. Revenues are recognized when they are received, while expenses are
recognized when paid for. This is also called as receipts and disbursement method of
accounting.

Thereby, the cash-based method of accounting is the easiest one to implement and is
most commonly used by sole proprietorships and small businesses.

7. FINANCIAL STATEMENTS:

Financial statements are reports compiled by businesses that detail the company's
financial activities and health. Financial statements are often audited by government
agencies and accountants to ensure accuracy and for tax, financing, or investing
purposes.
Accounting Package - Tally
Understanding the Balance Sheet
A company's balance sheet provides an overview of the company's assets, liabilities,
and shareholders' equity at a specific time and date. The date at the top of the
balance sheet tells you when this snapshot was taken; this is generally the end of its
annual reporting period. Below is a breakdown of the items in a balance sheet.

Assets
 Cash and cash equivalents are liquid assets, which may include Treasury
bills and certificates of deposit.
 Accounts receivable are the money owed to the company by its customers for the
sale of its products and services.
 Inventory is the goods a company has on hand, intended to be sold as a course of
business. Inventory may include finished goods, work in progress that is not yet
finished, or raw materials on hand that have yet to be worked.
 Prepaid expenses are costs paid in advance of when they are due. These expenses
are recorded as an asset because their value has not yet been recognized; should the
benefit not be recognized, the company would theoretically be due a refund.
 Property, plant, and equipment (PPE) are capital assets owned by a company for its
long-term benefit. This includes buildings used for manufacturing or heavy
machinery used for processing raw materials.
 Investments are assets held for speculative future growth. These aren't used in
operations; they are simply held for capital appreciation.
 Trademarks, patents, goodwill, and other intangible assets can't physically be
touched but have future economic (and often long-term benefits) for the company.

Liabilities
 Accounts payable are the bills due as part of a business's operations. This includes
utility bills, rent invoices, and obligations to buy raw materials.
 Wages payable are payments due to staff for time worked.
 Notes payable are recorded debt instruments that record official debt agreements,
including the payment schedule and amount.
 Dividends payable are dividends that have been declared to be awarded to shareholders but
have not yet been paid.
 Long-term debt can include a variety of obligations, including sinking bond funds,
mortgages, or other loans that are due in their entirety in more than one year.

Typical expenses include employee wages, sales commissions, and utilities such as electricity and
transportation.
Accounting Package - Tally
8. WHAT ARE ACCOUNTING TRANSACTIONS?

Accounting transactions refer to any business activity that results in a direct effect on the financial
status and financial statements of the business. Such transactions come in many forms, including:

 Sales in cash and credit to customers

 Receipt of cash from a customer by sending an invoice
 Purchase of fixed assets and movable assets
 Borrowing funds from a creditor
 Paying off borrowed funds from a creditor
 Payment of cash to a supplier from a sent invoice

Types of Accounting Transactions based on Institutional Relationship

The types of accounting transactions may be based on various points of view. The first one that we
will discuss is the types of accounting transactions according to institutional relationships, namely
external and internal transactions.

1. External transactions

These involve the trading of goods and services with money. Therefore, it can be said that any
transaction that is entered into by two persons or two organizations with one buying and the other
one selling is considered an external transaction. It is also called a business transaction.

2. Internal transactions

They don’t involve any sales but rather other processes within the organization. This may include
computing the salary of the employees and estimating the depreciation value of a certain asset.

Types of Accounting Transactions based on the Exchange of Cash

Based on the exchange of cash, there are three types of accounting transactions, namely cash
transactions, non-cash transactions, and credit transactions.

1. Cash transactions

They are the most common forms of transactions, which refer to those that are dealt with cash. For
example, if a company purchases office supplies and pays for them with cash, a debit card, or a
check, then that is a cash transaction.

2. Non-cash transactions

They are unrelated to transactions that specify if cash’s been paid or if it will be paid in the future.
For example, if Company A purchases a machine from Company B and sees that it is defective,
returning it will not entail any cash spent, so it falls under non-cash transactions. In other words,
transactions that are not cash or credit are non-cash transactions.
Accounting Package - Tally
3. Credit transactions

They are deferred cash transactions because payment is promised and completed at a future date.
Companies often extend credit terms for payment, such as 30 days, 60 days, or 90 days, depending
on the product or service being sold or industry norms.

9. RECORD TRANSACTIONS:
1. Press Alt + G (Go to) > Create Voucher > press F5 (Payment).
Alternatively, Gateway of Tally > Vouchers > press F5 (Payment).
2. Press F2 (Date) to change the transaction date, if needed.
When you press F2 to change the date, the date shown is for the subsequent day of
the current date. This is done to avoid manual entry of date for the next day as the
immediate next day is the most common business day. You can however enter any
date, even a date before the current date.
3. In the Account field, select the Cash or Bank ledger.
When you create a Company in TallyPrime, the system creates two ledgers by
default – Cash and Profit & Loss A/c .
4. Provide the payment details.
a. Under Particulars , select expense ledger for which you are making this
payment.
As always, press Alt+C to create a ledger under Indirect Expenses , on the fly, if an
expense ledger does not exist.

b. Amount : Enter the payment amount.

5. Provide Narration , if any, and accept the voucher creation screen. As always,
press Ctrl+A to save.

1. In the transaction, press Alt+Q (Edit Log).

Alternatively, press Ctrl+O (Related Reports) > Edit Log and press Enter .
The Edit Log report displays Version , Activity , Username , and Date & Time .
Accounting Package - Tally

Refer to Activities Tracked Under Edit Log to know more.

2. Select any version and press Enter.
The Differences Between Edit Log Versions screen appears.

a. Show internal fields updated by the application : No .

As a result of alteration, a few internal fields get updated in the application.
Set is as Yes only if you want to view such fields in the report.
Accounting Package - Tally

After configuring, as shown above, a sample report appears as shown below.

Accounting Package - Tally

10.GETTING THE FUNCTIONAL WITH TALLY:

Tally.ERP 9 can be started in any of the following ways :

Tally.ERP 9 Start - up screen components

Tally.ERP 9 Screen Components
 Title bar: Displays the Tally.ERP 9 version number.
 Horizontal button bar: Selection of Language key, Keyboard Language and Tally.ERP 9
Help.
 Close button: Performs the standard Windows Operating Systems function (Windows 95
onwards), allowing you to minimise Tally.ERP 9 and work on other applications. To restore
Tally.ERP 9, click the Tally.ERP 9 icon on the taskbar.
 Gateway of Tally: Displays menus, screens, reports and accepts the choices and options
which you select to view data as required.
 Buttons toolbar: Displays buttons which provide quick interaction with Tally.ERP 9. Only
buttons relevant to the current task are visible.
 Calculator Area: Used for Calculator functions.
Accounting Package - Tally
 Info Panel: Displays Version number, License details, Configuration details.
Mouse/ Keyboard Conventions
While working with Tally.ERP 9, use the following conventions.

company creation screen

Each field in the Company Creation screen is explained below. To navigate between
the fields,
use the enter key or the tab key or arrow keys or the mouse.
Accounting Package - Tally

Fields Description

This specifies the name of the company as it appears in Tally.ERP 9. If you have
Name several companies to create with similar names, you will have to distinguish
between them to provide a unique name for Tally.ERP 9.

The company name given in the Name field automatically appears in this field.
Mailing Name This can be changed according to your requirements. The correct name of the
company for mailing purposes should be entered.

The address of the company (The mailing name and address details are picked
Address
from here for any report such as balance sheet and statement of accounts).

Statutory
Select India from the list of countries.
Compliance for

State Select the appropriate State from the list of States.

Pin Code Enter the PIN code of the specified address.

Telephone No. Enter the telephone number of the company.

E-mail address will be used to e-mail documents, reports and data from Tally.ERP
E- Mail
9.

Mobile No. Enter the mobile number of the company.

Currency This refers to the currency symbol Tally.ERP 9 will use for monetary values. By
Symbol default, Tally.ERP 9 displays Rs.

Maintain Select the nature of the company i.e, Accounts only or Accounts with Inventory.

TallyVault is an enhanced security feature utilised to protect company data in an

encrypted form by means of a Password. The
TallyVault password entered ensures that the data is maintained permanently in an
TallyVault encrypted form without retaining information of
Password the password used. Data is not accessible without the TallyVault password.
Remember to keep this password private and known
only to those who need to know. If the password is lost, your data cannot be
recovered.

Use Security Tally.ERP 9 has a range of security controls, which can define the authority of
Control various users to access the information and to enter/ alter/delete the vouchers.
Accounting Package - Tally
Accounting Package - Tally
 Accounting Package - Tally

Income received in advance or Income received but not earned

Income received during the current year but not earned or a part of which relates to the next year.
(Deducted form the concerned income on the credit side and entered on the liability side)
Prepaid advance or Expenses or Prepaid expenses
Expenditure paid during current year but not incurred or a part of which relates to the next year is
called expenditure prepaid. (Deducted form the concerned expenditure on the debit side and
entered on the assets side)
Income outstanding or income earned but not received or Income accrued
Income outstanding means income earned during the current year but the amount on which is not
yet received (added to the concerned income on the credit side and entered on the asset side)
Gateway of Tally-Accounts info-ledger-create
Ledger Group Direct
Fright charges
expense
Opening stock Stock in hand s
Direct
Purchas Carriage inwards or
Purchase expense
e Purchases
s
account
Direct
Purchas Cartage and coolie
expense
Purchase return e s
account
Direct
Octroi
expense
s
Accounting Package - Tally

Direct
Manufacturing wages
expense
s

Direct
Coal, gas, water
expense
s
Direct Indirect
Oil and fuel Advertisement
expense expense
s s
Factory rent, insurance, Direct Indirect
electricity, lighting and expense Bad debts
expense
heating s s
Sales Sales account Indirect
Repair renewals
expense
Indirect s
Salary
expense
s Indirect
Motor expenses
expense
Indirect s
Postage and telegrams
expense
s Indirect
Depreciation on assets
expense
Indirect s
Telephone charges
expense
s Indirec
Interest on investment
t
Indirect received
Rent paid incom
expense e
s
Indirec
Indirect Interest on deposit received
Rates and taxes t
expense
incom
s
e
Indirect
Insurance Indirec
expense Interest on loans received
t
s
incom
Indirect e
Audit fees
expense
Indirec
s Commission received
t
Indirect incom
Interest on bank loan
expense e
s
Indirec
Discount received
Indirect t
Interest on loans paid
expense incom
Accounting Package - Tally
Accounting Package - Tally

s
Bank overdraft Bank OD

Current
Bills payable
Liabilitie
s
Sundry
Sundry creditors
creditor
s
Mortgage loans Secured
loans
Current
Expense outstanding
Liabilitie
s
Current
Income received in advance
Liabilitie
s
Land and building Fixed asset
Current
Other liabilities
Liabilitie Leasehold property Fixed asset
s
Patents Fixed asset
Capital
Capital
accoun Goodwill Fixed asset
t
Capital Prepaid expenses Current asset
Drawings
accoun Income outstanding Current
t assset
Cash in hand Cash in hand

Cash at bank Bank account

Fixed deposit at bank Deposit

Investments Investments

Bills receivable Current asset

Sundr
Sundry debtors
y
debtor
s
Closing stock Stock in hand

Stock of stationery Current asset

Loose tools Fixed asset

Fixtures and fittings Fixed asset

Furniture Fixed asset

Motor vehicles Fixed asset

Plant and machinery Fixed asset

 Accounting Package - Tally

Trading account : Buying and selling of goods.

Dr. Receiving aspect Giving aspect Cr.

Direct expenses Amount Direct Income Amount

To Opening stock xxx By Sales xxx
To Purchases xxx By (-)Sales return xxx
To (-)purchase return xxx By Closing stock xxx
To Freight charges xxx
To Cartage and coolie xxx
To Lorry hire xxx
To Manufacturing expenses xxx
To Wages xxx
To Factory rent, fuel power xxx
To Gross profit (transfer to
profit and loss account) xxx

To Profit and loss account : Actual profit and loss of the business

Indirect expenses or Amount Indirect income or receipts Amount

payments
To Salary xxx By Gross profit xxx
To Postage and Telegram xxx By Interest on investment xxx
received
To Telephone charges xxx By Interest on deposit received xxx
To Rent paid xxx By Interest on loans received xxx
To Rate and taxes xxx By Discount received xxx
To Insurance paid xxx By Discount received xxx
To Interest on bank loan xxx By Rent received xxx
To Bank charges xxx By Bad debts received xxx
To Printing and stationery xxx By Net loss xxx
 Accounting Package - Tally
To Discount allowed xxx
To Advertisement

To Carriage outward (sales)

To Depreciation on assets
To General expenses
To Traveling
To Bad debts
To Net profit
Balance sheet: Actual financial position

Liabilities Amount Assets Amount

Bank loan xxx Cash in hand xxx
Bank overdraft xxx Cash at bank xxx
Bills payable xxx Fixed deposit at bank xxx
Sundry creditors xxx Investments xxx
Expenses outstanding xxx Bills receivable xxx
Capital xxx Sundry debtors xxx
(-)drawings xxx Closing stock xxx
Net profit xxx Stock of stationery xxx
Furniture xxx
Plant machinery xxx
Land and building xxx
Motor vehicles xxx
Prepaid expenses xxx
Income outstanding xxx
 11.HOW TO CREATE A COMPANY IN TALLY.ERP 9?
To create Accounting
a company in Package
Tally.ERP -9,Tally

Steps Actions Instructions to be followed

Step 1 To open Tally Software Double click on tally icon from
your desktop.
Step 2 To go to Create Company Screen To do this Select Create company
from the Company Info. Menu
using up and down arrow key and
press Enter Key.
Step 3 To fill up the Details in Company In this company creation screen,
Creation Screen you should enter all the details of
the company that you been asked
for.
Details to be filled in company creation screen
 Accounting Package - Tally

UNIT- II
1. Accounting Masters in Tally-
2. Features-
3. Configurations-
4. Setting up Account Heads in Tally
********

1. ACCOUNTING MASTERS IN TALLY :

The accounts information lists accounting masters like groups , ledgers and voucher types with which you
can provide company's account details. Accounts information provides:
● Single master option to work with one master at a time.
● Multiple masters option to work with many sub-masters at a time. A sub-master behaves exactly
like a master.
To view the menu options, go to Gateway of Tally > Accounts Info. Accounts information for
ledgers, groups or voucher have the following functions:
Function Description

Create To create new masters.

To view the m aster information. Master information cannot be modified

Display
in the display mode.

To view and make changes to the master information. You cannot create
Alter
masters in the alter mode.

Understanding Accounting Masters Integration

Master Information

Group Group is a collection of ledgers

Ledger is the actual accounting master used for

Ledger
recording transactions and generating account reports

Voucher Type used to categorize the different nature

of transactions, provide specific voucher number and
Voucher Type
configure its behaviour while recording the
transactions
 <ENVELOPE>
Accounting Package - Tally
<HEADER>
<TALLYREQUEST>Import Data</TALLYREQUEST>
</HEADER>
<BODY>
<IMPORTDATA>
<REQUESTDESC>
<REPORTNAME>All Masters</REPORTNAME>
</REQUESTDESC>
<REQUESTDATA>
<TALLYMESSAGE xmlns:UDF=”TallyUDF”>
<GROUP Action=”Create”>
<NAME>North Zone Debtors</NAME>
<PARENT>Sundry Debtors</PARENT>
</GROUP>
</TALLYMESSAGE>
</REQUESTDATA>
</IMPORTDATA>
</BODY>
</ENVELOPE>

Ledger

The following table helps to understand the XML schema with the minimal tags required for creating a
ledger.

Tag Data type Is mandatory Description

LEDGER Yes Opening tag

NAME String Yes To provide the name of the Ledger

This should contain a group name

from list available in Tally. We can
also create our own groups and
PARENT String Yes
classify ledger under that group
subject to the group is created prior
to ledger creation.
 Accounting Package - Tally
The below given XML request creates a ledger in Tally

<ENVELOPE>
<HEADER>
<TALLYREQUEST>Import Data</TALLYREQUEST>
</HEADER>
<BODY>
<IMPORTDATA>
<REQUESTDESC>
<REPORTNAME>All Masters</REPORTNAME>
</REQUESTDESC>
<REQUESTDATA>
<TALLYMESSAGE xmlns:UDF=”TallyUDF”>
<LEDGER Action=”Create”>
<NAME>Customer ABC</NAME>
<PARENT>Sundry Debtors</PARENT>
</LEDGER>
</TALLYMESSAGE>
</REQUESTDATA>
</IMPORTDATA>
</BODY>
</ENVELOPE>

Adding address information in ledger master

The below mentioned XML tags can be included in the XML request to add the address
information in ledger master.

<LEDGER Action=”Create”>
<NAME>Customer ABC</NAME>
<PARENT>Sundry Debtors</PARENT>
<MAILINGNAME.LIST TYPE=”String”>
<MAILINGNAME>Customer – Mailing name</MAILINGNAME>
</MAILINGNAME.LIST>
<ADDRESS.LIST TYPE=”String”>
<ADDRESS>Door no </ADDRESS>
<ADDRESS>Lane</ADDRESS>
 <ADDRESS>Locality</ADDRESS>
Accounting Package - Tally
</ADDRESS.LIST>
<PINCODE>56008</PINCODE>
<COUNTRYNAME>India</COUNTRYNAME>
<LEDSTATENAME>Karnataka</LEDSTATENAME>
<EMAIL>A@abc.com</EMAIL>
<EMAILCC>ACC@abc.com</EMAILCC>
<LEDGERPHONE>0888888</LEDGERPHONE>
<LEDGERMOBILE>99999999</LEDGERMOBILE>
</LEDGER>
Similarly, we can create any ledger in Tally by specifying the appropriate group / parent.

Altering a ledger

An existing ledger in Tally can be altered by sending a XML request. Only the tag <Ledger> has
to be changed as mentioned below in the XML request demonstrated for creating of ledger.

<Ledger NAME=”Customer ABC” Action=”Alter”>

2. FEATURES:
1. Go to Gateway of Tally > F11: Features > F1: Accounts.
2. Select the company from the List of Companies . The Accounting Features screen appears as shown
below:

See F11: Company Features in Tally.ERP 9 for details.

3. CONFIGURE OPTIONS OR DATA CONFIGURATION:
Accounting Package - Tally
You can add and modify the path where the language files, data files and other configuration files can be
saved.
1. Go to Gateway of Tally > F12: Configure > Data Configuration .
2. Specify the Location of data files where you want your company data to be saved . By default the
location is set to C:\Users\Public\Tally.ERP9\Data .
3. Specify the Location of export files where you want to save the exported files. By default the
location is set to C:\Program Files\Tally.ERP9 .
4. Disable the option Load companies on startup? if you do not want to load the companies on starting
Tally.ERP 9. By default this option is set to Yes .
5. Specify the list of companies that should be loaded on starting Tally.ERP 9 in the field Select
companies to preload on startup .
6. Specify the Location of language files where you want the language files to be saved. By default the
location is set to C:\Program Files\Tally.ERP9\Lang .
7. Specify the Location of configuration file where you want to configuration files to be saved. By
default the location is set to C:\Program Files\Tally.ERP9 . The Data Configuration screen
appears as shown below:

8. Press Ctrl+A to accept.

Accessing data from Tally.Server 9
1. Click S : Server Data Loc in the Data Configuration screen. The List of Tally.Server Data
Locations list appears as shown below:
 Accounting Package - Tally

2. Select the required location.

3. Press Ctrl+A to accept.
Note: When multiple locations are specified in the Location of data files , add # before the location to
comment the path. Tally.ERP 9 considers the file without the #.
● Go to Gateway of Tally > F12: Configure > Accts / Inventory Info. The Master
Configuration screen appears as shown below:

4. SETTING UP ACCOUNT HEADS IN TALLY OR INSERTING AND

RENAMING HEADS:
Tally.ERP 9 provides users with the option to rename and insert Heads in the Schedule-VI Balance Sheet
or Profit & Loss A/c as per their business needs.
On this page
1. Rename Heads
2. Insert Heads
3. Add New Head
4. Delete inserted Heads
1. Rename Heads
1. GoAccounting Package
to Gateway of - Tally& Compliance > Financial Statements > Balance Sheet .
Tally > Audit
2. Select the Schedule VI Head that has to be renamed.
3. Click on R : Rename Head or press Alt+R .

The Change Display Name sub-screen appears:

4. Type in the name to be given to the chosen Schedule VI Head.

5. Press Enter .

6. Press Enter or Y to Accept the change. The Schedule VI Head appears renamed in the Schedule-VI
Balance Sheet:
 Accounting Package - Tally

Follow the same procedure for Profit & Loss A/c.

2. Insert Heads

Users can insert Heads at lowest level of the hierarchy of Schedule VI Heads. For example , User will not
be able to insert head at Current Assets (Schedule VI Head) level, but will be able to do it at Other Current
Assets (Sub-head) level.
1. Go to Gateway of Tally > Audit & Compliance > Financial Statements > Balance Sheet . If, for
instance, Interest Accrued on Investments has to be inserted under Other Current Assets,
2. Place the cursor under the required Schedule VI sub-head (here, Other Current Assets) and click
on Ctrl+I : Insert Head or press Ctrl+I .
 Accounting Package - Tally

3. The Create Schedule VI Head screen appears. Press Backspace to change the Head under which the
new one has to be inserted. A List of Heads appears:

4. Select the appropriate Head (here, Other Current Assets), and press Enter .
5. Type in the Name of the new head and press Enter .
 Accounting Package - Tally

6. Press Enter or Y to Accept the new head.

2. The Create Schedule VI Head screen appears:

 Accounting Package - Tally

3. From the List of Heads , select the required Head.

4. Enter the name of the New Head to be created.

5. Press Enter or Y to Accept the Creation.

.
Follow the same procedure for Profit & Loss A/c.
4. Delete inserted Heads
1. Select the (inserted) head.
2. Click on Ctrl+D : Delete Head or press Ctrl+D . 3. Press Enter or Y to delete the head.
 Accounting Package - Tally

UNIT- III
1. Inventory in Tally-
2. Stock Groups
3. Stock Categories
4. Go downs / Location
5. Units of Measure
6. Stock Items
7. Creating Inventory Masters for National Trader in Tally

1. INVENTORY MANAGEMENT IN TALLY PRIME:

Tally Prime supports tracking inventory in your business, from purchase order to sales. Stock
tracking can be across godowns/locations, or different stages of processing.

Inventory tracking covers stock changes due to purchase and sales processes, delivery or receipt
as samples, movements across godowns, all adjustment entries including those caused by physical
verification, and so on. You can also use batch details for items, if applicable. You can do item
cost tracking and costing for jobs/projects, if needed. Various reports are available to help you
track all your inventory transactions.
 Inventory Only Entry
 Manage Your Stock Items
 Inventory Reports
 Track Item Cost
 Inventory Storage Using Godowns/Locations
 Manage Inventory Batch-wise
  Manage Inventory in Manufacturing
 Job Work
Accounting Package - Tally
 Job Costing
2. STOCK GROUPS:
Stock Groups in Inventory are similar to Groups in Accounting Masters. They are helpful in the
classification of Stock Items. You can group Stock Items under different Stock Groups to reflect their
classification based on some common features such as brand name, product type, quality, and so on.
Grouping enables you to locate Stock Items easily and report their details in statements.

On this page
Single stock group
Multiple stock group
Display single stock group
Display Multiple Stock Groups
Create Single Stock Groups
Stock Items are classified into stock groups to reflect their classification based on some community.
1. Go to Gateway of Tally > Inventory Info. > Stock Groups > Create (under Single Stock Group ).
2. Enter the Name of the Stock Group.
3. Enter additional name apart from primary name [if required] in the field Alias . You can create any
number of additional names.
4. Specify whether it is a primary group or a sub-group of another group in the field Under , by selecting
from the list.
5. Press Alt+C to create a parent group, if you do not have it in the list.
6. The field Should quantities of items be added pertains to information on measuring the units of the
Stock Items that you would categorise under the Stock Group . The Stock Items categorised under the
group should have similar units for them to be added up. You cannot add quantities in Kgs to
quantities in Pcs .
7. Enable the option Set/alter GST Details to define the GST rate .

8. Press Enter to save.

Note: You can always go back and reset this option after assessing the units of the items in the group.
Button options in stock group creation screen
Accounting
Buttons Package
Short - Tally
Cut Keys Description & Use

C: Category Ctrl+C Allows you to Create a Stock Category.

I: Items Ctrl+I Allows you to Create a Stock Item.

U: Units Ctrl+U Allows you to Create a Unit of Measure.

O: Godown Ctrl+O Allows you to Create a Godown

V: Vch Types Ctrl+V Allows you to Create a Voucher Types

Note: Category and Godown buttons are visible only if you have opted for the same in F11: Features.
Create Multiple Stock Groups
Tally.ERP 9 allows you to create Stock Groups using single or multiple options.
1. Go to Gateway of Tally > Inventory Info. > Stock Groups > Create (under Multiple Stock Groups ).

2. Select the parent group under which you want the new groups to be created from the List of Groups .
3. Enter the Name of the Stock Group.
4. If you select any group other than All Items in the Under Group field, then this column is filled in
automatically with the selected Group name and the cursor skips this column. This will speed up data
entry.

5. If you select All Items in the Under Group field, the cursor does not skip this field and allows you to
enter the parent group for each one of them.
6. In the field Should Quantities of Items be Added you can select whether units of the Stock Items
under Stock Group are to be added or not.
Button options in Multi Stock Group Creation screen

Buttons Short cut Description & Use

 keys
Accounting Package - Tally
F4 : Parent Ctrl+F4 Allows you to change the parent for all sub groups.

To speed up data entry, cursor will not go to column Should

F8 : Skip
F8 Quantities of Items be Added (Y/N) and this option will be set
Details
to Yes . If you want to set it to No , click F8: Edit Details .

C:
Ctrl+C Allows you to Create a Multi Stock Category.
Category

I : Items Ctrl+I Allows you to Create a Multi Stock Item.

O:
Ctrl+O Allows you to Create a Multi Godown
Godown

Display Single Stock Group

You can display the existing Stock Group in Single mode and multiple mode, since it is only display
Tally.ERP 9 does not allow you to alter any information in display mode.
1. Go to Gateway of Tally > Inventory Info. > Stock Groups > Display (under Single Stock Group ).
2. Select the Stock Group whose particulars you want to display from the List of Groups . The Stock
Group Display screen appears.
Button options in single Stock Group Display screen
Buttons Short cut Keys Description & Use

C: Category Ctrl+C Allows you to Display a Stock Category.

I: Items Ctrl+I Allows you to Display a Stock Item.

U: Units Ctrl+U Allows you to Display a Unit of Measure.

O: Godown Ctrl+O Allows you to Display a Godown.

V: Vch Types Ctrl+V Allows you to Display a Voucher Types.

Note: Category and Godown buttons are visible only if you opted for the same in F11: Features .
Display Multiple Stock Groups
1. Go to Gateway of Tally > Inventory Info. > Stock Groups > Display (under Multiple Stock
Groups ).
2. Select the Stock Group from the List of Groups .
 Accounting Package - Tally

If you select All Items from the List of Groups , all the Groups and sub Groups are displayed.

If you select Grade One from List of Groups , all the sub Groups related to Grade One will be
displayed.

Button options in Multi Stock Group Display screen

Shortcut
Buttons Description & Use
Keys

Allows you to select parent [Stock Group] from List of

F4: Parent Ctrl+F4
Group .

C:Category Ctrl+C Allows you to select Category from List of Categories .

I: Items Ctrl+I Allows you to select Stock Group from List of Groups .

O:
Ctrl+O Allows you to select Godowns from List of Godowns .
Godown

Note: Category and Godown buttons are visible only if you have opted for the same in F11: Features.
 3. STOCK CATEGORIES:
Accounting Package - Tally
Stock Category offers a parallel classification of stock items. Like stock Groups, classification is done
based on similarity in behaviour.

For example,
Stock Item Sub Group Main Group Sub-Category Main Category

Brand A - 19” LED TV Brand A Grade One LED TV Television

Brand A - 17” Smart TV Brand A Grade One Smart TV Television

Brand B - 19” LED TV Brand B Grade Two LED TV Television

Brand B - 17” Smart TV Brand B Grade Two Smart TV Television

The advantage of Categorizing items is that you can classify the stock items (based on functionality)
together – across different stock groups which enables you to obtain reports on alternatives or substitutes
for a stock item.
For enabling Stock Category option in the Inventory Info menu, press F11 > Inventory Features >
Set Yes for Maintain stock categories .
.
Button options for single stock category creation screen
Short Cut
Buttons Description and Use
Keys

G: Groups Ctrl+G Allows you to Create a Stock Group.

I: Items Ctrl+I Allows you to Create a Stock Item.

Allows you to Create a Unit of

U: Units Ctrl+U
Measure.

O: Godown Ctrl+O Allows you to Create a Godown

V: Vch
Ctrl+V Allows you to Create a Voucher Types
Types

Note: Few buttons appear only if you enabled the feature in F11: Features .
Create Multiple Stock Categories
 2. The field Under Category will display the List of Categories . You can select a category for which a
multiple sub-category
Accounting Packagecan -beTally
created.
3. If you select All Items in List of categories , selection of parent category Under column is possible
during creation of sub-category.
4. If you select specific category in List of Categories , that category will get populated automatically
whenever creation of sub-category and cursor skips Under column.
5. Specify the name of the Stock Category .
6. If you have select All Items in Under Category , you must specify a parent category in this column.
Button options for Multi Stock Category screen
Buttons Short Cut Keys Description and Use

F4: Parent F4 Allows you to change the parent for all Categories.

G: Groups Ctrl+G Allows you to Create a Multi Stock Group.

I: Items Ctrl+I Allows you to Create a Multi Stock Item.

O: Godown Ctrl+O Allows you to Create a Multi Godown

Display a single Stock Category

1. Go to Gateway of Tally > Inventory Info. > Stock Categories > Display (under Single Stock
Category).
2. Select the Category for which you want to view the display details from the List of
Categories . The Stock Category Display screen shows the details entered in Stock Category Master.

Button options in single stock Category Display mode

Short Cut
Buttons Description and Use
Keys

G: Group Ctrl+G Allows you to Display a Stock Group.

I: Item Ctrl+I Allows you to Display a Stock Item.

Allows you to Display a Unit of

U: Units Ctrl+U
Measure.

O: Godown Ctrl+O Allows you to Display a Godown.

 V: Vch
Accounting
TypesPackage - Ctrl+V
Tally Allows you to Display a Voucher Types

Display Multiple Stock Categories

1. Go to Gateway of Tally > Inventory Info. > Stock Categories > Display (under Multiple Stock
Categories ).
2. Select the Stock Category from the List of Categories .

If you select All Items from the List of Groups , all the categories and sub categories are displayed.

If you select Monitor from the List of Categories , all the sub categories related to Monitor will be
displayed.

Button options in multi stock group Display mode

Short Cut
Buttons Description and Use
Keys

F4: Parent Ctrl+F4 Allows you to Display a Stock Group.

G: Groups Ctrl+G Allows you to Display a Stock Item.

Allows you to Display a Unit of

I: Items Ctrl+I
Measure.

O: Ctrl+O Allows you to Display a Godown.

 Godown
Accounting Package - Tally
Alter a Single Stock Category

Make the necessary changes and click Yes to accept.

Deletion is possible only in the alteration mode. For deleting the Stock Category, Press Alt+D .

Button options in single stock category alteration screen

Buttons Short Cut Keys Description and Use

G: Groups Ctrl+G Allows you to Alter a Stock Group.

I: Items Ctrl+I Allows you to Alter a Stock Item.

U: Units Ctrl+U Allows you to Alter a Unit of Measure.

O: Godown Ctrl+O Allows you to Alter a Godown.

V: Vch Types Ctrl+V Allows you to Alter a Voucher Types

Alter Multiple Stock Categories

1. Go to Gateway of Tally > Inventory Info. > Stock Categories > Alter (under Multiple Stock
Categories ).
2. Select the Stock Category from the List of Stock Categories . The Multi Stock Group
Alteration screen is displayed as shown.

Make the necessary changes and click Yes to accept.

Button options in Multi stock Category alteration screen
Short Cut
Buttons Description and Use
Keys
 Allows you select Stock Category from Under Category Field for
F4: Parent F4 Package - Tally
Accounting changing the parent of sub Category.

F4: New
Ctrl+F4 Allows you to select parent [Stock Category] from List of Category .
Parent

F6: Skip Cursor will not go to Column Name of Stock Category . If you want to
F6
Names alter only the details of Under Column then you can skip names.

F7: Skip Cursor will not go to column Under . If you do not want to alter parent
F7
Parent then you can skip it.

G: Groups Ctrl+G Allows you to Alter a selected stock Group in Multi-stock Group screen.

I: Items Ctrl+I Allows you to Alter a selected Item in Multi Stock Item screen.

O: Godown Ctrl+O Allows you to Alter a selected Godown in Multi Godown screen.

Note: Few buttons appear only if you enabled the feature in F11: Features .

4. GO DOWNS / LOCATION:

Create Godowns/Locations

To start allocating your stock items in godowns, you need to create a godown first.

1. Gateway of Tally > Create > select Godowns > press Enter.
Alternatively, Alt+G (Go To) > Create Master > type or select Godowns > press Enter.
When you create a Godown/Location in TallyPrime for the first time, you are prompted to
alter the existing internal godown (Main Location), where all your inventory is stored by
default.
2. Name & alias: As in other masters, you can specify multiple aliases for the godown name.
3. Under: Select Primary or Main Location.

What you see on the screen can vary based on your choices. Press F12 (Configure) to
change the options.
 CreateAccounting
Multiple Godowns/Locations
Package - Tally

If you have stored your inventory in more than one location, in TallyPrime you can choose to
create godowns one by one, or create multiple godowns from a single screen. You can choose
the parent godown from the same screen when creating multiple godowns.

A sample Multi Godown Creation screen is shown below:

What you see on the screen can vary based on your choices. Press F12 (Configure) to change the
options.

1. Open the Stock Item Allocation screen.

2. To allocate the opening balance of your stock, in the Stock Item Alteration screen,
select Opening Balance and press Enter.
3. To allocate stock items during voucher entry, in the Voucher Creation screen, select the
stock item and press Enter.
A sample Stock Item Allocation screen is as shown.
 What you see on the screen can vary based on your choices. Press F12 (Configure) to
change the options
Accounting and F11
Package (Features) to enable or disable features.
- Tally
4. In the Stock Item Allocation screen, provide the Quantity if UoM is defined for the item;
otherwise, provide the Amount.

1. Gateway of Tally > Vouchers > Alt+F7 (Stock Journal).

2. Provide Quantity, Rate, or Amount, as needed.

What you see on the screen can vary based on your choices. Press F12 (Configure) to
change the options and F11 (Features) to enable or disable features.

In the Stock Journal screen, press Ctrl+H (Change Mode).

 1. Set the option Use for Inter-Godown Transfers to Yes.
Accounting Package - Tally

What you see on the screen can vary based on your choices. Press F12 (Configure) to
change the options and F11 (Features) to enable or disable features.

Create Hierarchy of Godowns/Locations for Area-wise Inventory Storage

You can create multiple locations in a hierarchy, to get a consolidated view of your inventory
in different regions, zones, warehouses, cabinets, bins, and so on.

To create a hierarchy as shown in the image below:

 Create the location Koramangala. When creating locations Regional Office –

HO and Branch Office – HO, in the field Under, select Koramangala.

A sample of printed Sales Invoice with the godown address is shown below :
 Accounting Package - Tally

What you see on the screen can vary based on your choices. Press F12 (Configure) to
change the options.

5. UNITS OF MEASURES :
Units of Measure
Stock Items are mainly purchased and sold on the basis of quantity. The quantity in turn is measured by
units. In such cases, it is necessary to create the Unit of Measure. The Units of Measure can either be
simple or compound. Examples of simple units are: nos., metres, kilograms, pieces etc.

On this page
Simple Units of Measure
Compound Unit of Measure
Alter Units of Measure
Display Units of Measure
Simple Units of Measure
1. Go to Gateway of Tally > Inventory Info > Units of Measure > Create . The Unit Creation screen
is displayed as shown below:
 Accounting Package - Tally

This field will show the Type of Units.

● Simple
● Compound.
Compound Unit of Measure
A Compound Unit is a relation between two Simple Units. Hence, before you create a Compound Unit,
ensure that you have already created two Simple Units.

For example, To Create Compound unit – Doz (Dozen) of 12 Nos (Numbers), you have to create two
simple units, Doz (Dozen) and Nos (Numbers) and set the conversion factor as 12.
1. Go to Gateway of Tally > Inventory Info > Units of Measure > Create. The Unit Creation screen is
displayed as shown. Now Click on Type field or Press SHIFT + TAB or Press Backspace Key.

2. Select Compound from the Types of Units and press Enter. The Conversion field will be displayed for
creating Compound unit.

3. Select the First unit from the Units List. In the above example, Dozen will be the First Unit.
4. Specify the Conversion Factor. In the above example, Conversion factor will be 12.
 5. Specify the Second Unit from the Units List. In the above example, Number will be the Second Unit.
This unit is alsoPackage
Accounting called Tail- Unit.
Tally
6. Use CTRL + A or Accept the Screen for Saving of Compound Unit Creation.
Alter Units of Measure
You can alter the units of measurement created in Tally.ERP 9.
1. Go to Gateway of Tally > Inventory Info. > Units of Measure > Alter .
2. Select the Name of Unit you want to alter from the Units list. The Unit Alteration screen appears as
shown below:

3. Make the necessary changes.

4. Press Ctrl+A to accept.
You can delete a unit of measure by pressing Alt+D . However, a unit of measure that is part of a
compound measure cannot be deleted without deleting the compound measure first.
Display Units of Measure
You can display the existing Units of Measure, since it is only display Tally.ERP 9 does not allow you to
alter any information in display mode.
1. Go to Gateway of Tally > Inventory Info. > Units of Measure > Display.
2. Select the Unit of Measure you would like to view from the Units list. You can select a compound unit
or a simple unit from the list. The Unit Display screen is displayed as shown below:

Note: In display mode it is not possible to make any changes.

6. STOCK ITEMS:
Stock Item refers to goods that you manufacture or trade. It is the primary inventory entity and is the
lowest level of information on your inventory. You have to create a Stock Item in Tally.ERP 9 for each
inventory item that you want to account for.
On this page
Create Accounting Package - Tally
stock items on-by-one
Create multiple stock items in one-go
Alternate Units for Stock Item
Advanced Entries and Costing Methods for Stock Item
Display stock items
Alter stock items
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
Buttons Short Cut Keys Description and Use

G: Groups Ctrl+G Allows you to Create a Stock Group.

I: Items Ctrl+I Allows you to Create a Stock Item.

U: Units Ctrl+U Allows you to Create a Unit of Measure.

O: Godown Ctrl+O Allows you to Create a Godown.

V: Vch Types Ctrl+V Allows you to Create a Voucher Types

Note: Category and Godown buttons are visible only if you opted for the same in F11: Features .
Create multiple stock items in one-go
1. Go to Gateway of Tally > Inventory Info. > Stock Item > Create (under Multiple Stock Items ).
2. Select a Stock Group or All Items from List of Groups to create the Stock Item.
3. Enter the Name of the Stock Item.
4. Select the group and Units . Press Alt+C in the Units field if you want to create a unit of measure.
5. Enter the opening quantity, rate per unit. The Multi Stock Item Creation screen appears as shown
below:
 Accounting Package - Tally

6. Press Enter to save.

Alternate Units for Stock Item
To create stock item with alternate unit of measurement, you have to enable the alternate unit field in stock
item master creation screen. Using alternate units you can record a transaction, and view stock summary in
basic and alternate units.
Note: Alternate units are different from compound units. Alternate units are individual units that are similar
to simple units. They can be used instead of another simple unit.
Enable alternate units for stock item
1. Go to Gateway of Tally > F12: Configure > Accts / Inventory Info.
2. Set the option Use alternate units for stock items? to Yes as shown below:

3. Press Ctrl + A to accept.

Or
1. Go to Gateway of Tally > Inventory Info. > Stock Items > Create .
2. Click F12: Configure .
3. Set the option Use alternate units for stock items? to Yes .
4. Press Ctrl + A to accept.
 Accounting
Advanced Entries andPackage - Tally for Stock Item
Costing Methods
For the advanced mode, including selection of costing methods, you have to enable advanced
configuration and features for stock item master in F12: Configure and F11: Features .

The advance configuration parameters for stock item master under F12: Configure (Master
Configuration) are shown below:

The advanced features for stock items in F11: Features are shown below:

Note: You can configure the entire setup according to your requirements. According to
the configuration in F12 and F11 , stock item master fields will get added and removed.
8. Go to Gateway of Tally > Inventory Info. > Stock Items > Create (under Single Stock Item )
 Accounting Package - Tally

9. Part No. field gets enabled only after enabling Use Part Number for stock items in Inventory Master
Configuration. This field is used to enter the Vendors catalogue number. You can also optionally
print it in reports/invoices.
10. Description field gets enabled only after enabling Use Description for Stock Items in Inventory
Master Configuration. This field is used to enter the description of the Stock Item as it is required to
be printed in Quotations, Delivery Challan/Invoice.

.
 Accounting Package - Tally

o The option Behaviour Group is enabled once you enable Allow Advanced Entries in
Masters option. Options available under Behaviour Group are:

o This field will display the List of Costing Method for valuating the Stock Item.

7. CREATING INVENTORY MASTERS FOR NATIONAL TRADER IN TALLY:

Integration of Inventory Masters
The inventory masters are similar to Accounting Masters. Inventory masters are needed to
maintain the stock details of an organization to realize the availability of stock in hand which is
part of the Balance sheet.

The following table describes the type of inventory masters and its purpose:

Master Information

Stock Group Stock groups holds collection of stock items.

A Stock item is the actual inventory master used in the

Stock Items
transactions

Unit of Measure/Stock Stock Items are transacted based on the quantity. The
Categories quantity is measured by the Unit of Measure.

Locations/Godowns To maintain the availability of stock at various locations.

 Stock items are stored under the Godowns
Accounting Package - Tally