In the last two lessons we were learning Stock group creation and unit of measure in tally. Knowledge in both the lessons is mandatory here in creating stock items. Stock items are the goods we manufactured, purchased and sold. To raise item invoice we must create stock item in tally, also to using various inventory options stock item is mandatory.

So let’s create the stock item

Stock item in normal mode

To create stock item, go to

Gateway of tally>>Inventory Info>>Stock Items>>Create

Use Hot Key I I C From the gateway of tally

Here we are going to create stock item of Computer grouped under Brand name Acer, VAT rate is 5%,

Fill the field as follows

Name: Type stock item name in our case Computer

Alias: It is the additional name for the same stock item; you can access this stock item either by typing name or alias. Commonly people are using Alias to add code like AC-4500 to a stock item.

Under : Here we are grouping stock items based on its brand, so create a stock group in its brand name “Acer “.If you don’t know how to create stock group click here

Units:  Computer can be sold in the units Numbers or pieces, Lets choose PCS here, if you don’t know how to create units go here

Rate of Duty:  Specify the rate of duty for the item; this option is to calculate excise duty.

Opening Balance: This is the stock in hand at the end of previous financial year or the stock in hand before you computerizing the accounts.

Enter the opening quantity and rate the value will be calculated automatically, Press enters to save the stock item created.

stock-item-normal-mode

 Creating Stock item in advance mode

We can also create stock items in advance mode, where there are number of options available for various business needs. Here we are discussing the basics of advance stock item creation; each and every item will be discussed in separate posts later.

How to activate advance mode stock item creation?

Go to stock item creation screen

Gateway of tally>>Inventory Info>>Stock Items>>Create

In the item creation screen Press F12 Function key from key board or Click on configuration buttons on the right bottom of the screen, a stock item configuration screen will appear. Inside the configuration screen there are several options available, Set Yes or No as per your company requirements.

advanced-entries-in-masters

By enabling “Allow ADVANCED entries in masters” will bring some more advanced feature like costing method, market valuation method and many more options in to stock item creation screen.

Now again from stock item creation screen Press F11, You will get a screen, where inventory features are available, in this screen you can see some settings like stock items related features, you can make it available by setting Yes or No.

f11-feature-related-stock-item-setings

By enabling these options, Stock creation screen will look like below, Each and every options is required a detailed explanation, that will be following this lesson. Hence I am concluding this post with the screenshot of stock item creation in advanced mode.

stock-item-creation-advanced-mode

Press enter and save the screen.