Inventory Features in Tally (F2: Inventory)

InventoryFeatures in Tally ERP 9

Inventory features in Tally consists configurations / functions related to inventory transactions and reports.

Inventory features in tally are furthered sub-divided into 7 functions, such as

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 in Tally ERP 9

• Path: Tally Main –> Gateway of Tally –> F11: Features –> Company Features –> Inventory Features or click on F2: Inventory.

How to enable inventory features in Tally ERP 9

By using inventory features, you enable or disable the options for day to day business transactions. The following screen displays after executing the inventory features.

On the company alteration screen, update the following details

General

• Integrate accounts and inventory: Choose this option as Yes to include stock or inventory balances in inventory records.
• Enable zero-value transactions: Choose this option as Yes to allow the zero-value transactions.

Storage and classification

• Maintain multiple godowns: Enable this option if you have more than one storage location and godowns for storing the materials.
• Maintain stock categories: Enable this to define or maintain stock categories
• Maintain batch-wise details: Enable this option to maintain batch-wise details for stock items
  • Set expiry dates for batches: Enable this option for maintaining expiration dates for batches
• Use separate actual and billed quantity columns

Order Processing

• Enable purchase order processing: Enable this option to define purchase orders
• Enable sales order processing: Enable this option to define sales orders
• Enable job order processing: Enable this option to define job orders.

Invoicing

• Enable Invoicing:
  • Record purchases in invoice mode
• Use debit and credit notes
  • Record credit notes in invoice mode
  • Record debit notes in invoice mode
• Use a separate discount column in invoices

Purchase Management

• Track additional costs of purchases

Sales management

• Use multiple price levels

Other Features

• Use tracking numbers (enables delivery and receipt notes)
• Use rejection inward and outward notes
• Use material in and out vouchers
• Use cost tracking for stock item

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

Statutory & Taxation in Tally (F3: Statutory)

The statutory & taxation company features consists configuration and functions related to statutory compliance for company in Tally ERP 9. The statutory features are related to country specific and depends upon country during the company creation in Tally.ERP 9.

The following are the features that are available for statutory and taxation

• Goods and Service Tax (GST)
• Excise
• Value Added Tax (VAT)
• Tax deducted at Source (TDS)
• Tax collected at source

From the Version of Tally.ERP 9, the Tally supports various taxation in Nepal including GST.

How to enable Statutory & Taxation Features

You can use Statutory and Taxation features in Tally by enabling and disabling options in the company alteration screen.

Follow the path and open statutory and taxation.

Gateway of Tally –> F11: Features –> Company Features –> Statutory Taxation or press function key F3

From the screen company operation alteration – Company: Tutorial Kart, update the following details.

• Enable Goods and Services Tax (GST): Enable GST option to use GST tax for company
  • Set/alter GST details: Enable this option to change the GST details.
• Enable Value Added Tax (Vat): Country India is now following GST tax, so disable this option as company is following GST tax.
  • Set/Alter VAT details: Choose this options as No
• Enable Excise: Enable this option to use the Excise
  • Set/alter excise details: Enable this option to change the excise details
• Enable Service Tax: Enable this option to use the service tax by company
  • Set/alter service tax details: Enable this option only to alter the service tax details
• Enable Tax deduction at Source: Enable this option to use TDS
  • Set/alter TDS details
• Enable Tax collected at Source: Enable this option to use TCS
  • Set/alter TCS details

Tax Information:

• PAN/Income Tax No: Update the company permanent account number (PAN) / Income tax number in this field.
• Corporate Identify No: Update the company CIN number in this field.

After updating all the required details for statutory and taxation, choose A: Accept to save the details.

How to Create Company in Tally – Setting up of Company in Tally ERP 9

In this Tally ERP 9 tutorial, you will learn how to create company in Tally step by step simple methods. The first step to get started in Tally ERP 9 is to create a company. The creation of company in Tally involves basic information about company, books and currency details.

How to create company in Tally ERP 9

Step 1: After login to Tally, double click on the option create company under company information. To create company in Tally, follow the following navigation path Gateway of Tally > Company Info > Create company

Step 2: The company creation window displays on the screen as show below image

Note: Use the enter key or Tab key or Arrow key or Mouse to navigation between the fields in Tally.

Step 3: On company creation screen, update the following details

1. Directory: It is a path where the company date will be stored on system. By default, the tally directory will updated as C:\Users\Public\Tally.ERP9\Data and you can change the path as per your requirements.
2. Name: Update the name of company that identifies in Tally ERP 9.

Primary Mailing Details

1. Mailing Name:The mailing name of company will be automatically updated as per the given name of company, however the mailing name can be changed as per the requirements.
2. Address: Update the complete address details of company
3. Statutory Compliance for: Choose the country name as India from the given list of countries.
4. State: Choose the state from the given list of states.
5. Pin Code: Update the Pin Code of company, where it is located.

Contact Details

1. Telephone No: Update Company landline/ Telephone number
2. E-Mail: Update the company e-mail id
3. Mobile No: Mobile number for contacting
4. Fax no: Update the Fax number
5. Website: Update the official website address of company

Books and Financial Year Details

1. Financial Year From: Update the financial year starting date, all Indian companies financial year start from 1st April and ends on 31st March. Tally considers the 12 months from the date given for financial year. The financial year will be automatically displayed on Tally system, if FY starts in middle of year, you can specify the exact date from here.
2. Books Beginning from: Specify the books beginning date.

Security Control

1. Tally Vault Password: By enabling Tally vault password, the company data is secured in an encrypted form. The data is not accessible without the password, if you lost the password that will be not recovered.
2. Use Security Control: Enabling securing control helps only authorized users are allowed to enter/edit/delete the vouchers on Tally.

Base Currency Information

1. Base Currency Symbol: [icon name=”inr” class=”” unprefixed_class=””]
2. Formal Name: INR (India Rupees
3. Suffix Symbol to Amount: No
4. Add spaces between the amount and symbol: Yes
5. Show amount in Millions: Yes
6. Number of decimal Places: 2
7. Word representing amount after decimal: Paisa
8. No of decimal places for amount in words: 2

After updating all the required details of company, choose Yes to save the entered details in Tally.

How to Alter/ Delete / Shut Company in Tally

In this Tally ERP 9 tutorials, you will learn how to alter company, delate company and shut company in Tally software.

How to Alter Company in Tally

After creation of company in tally, the given company information can be alter/ modify/ change as per requirements.

Step 1: To Alter company in Tally: Gateway of Tally >> Press Alt+F3 > Alter

Step 2: Under list of companies, choose the company name (Tutorial Kart) and click on name of company to alter.

Step 3: On company alteration screen, add and modify the required details and use Ctrl+ A options to save the details. Here we have added contact details of phone number.

How to delete company in Tally ERP 9

If you delate company in Tally, it removes the complete information of company from Hard drive, all the files and directories that are associated with company will be deleted permanently and it can not be reversed.

To delete company in Tally ERP 9: Gateway of Tally > Alt+F3 > Alter > Alt+D.

Step 1: After using Alt+F3 keys, the company information screen displays on the screen. Here the delete option will be not available. Click on alter option.

Now selection company and click Alt+D and click on YES option to delete the company in Tally ERP 9.

How to shut company in Tally ERP 9

Shut a company in tally does not mean that delete a company, it means close. After you work with company, press Alt+F1 if you choose more than one company or choose Quit button to close the present company.

Swaroop Raj Acharya's voice conveys Dr. Bastakoti's "Euta Prashna".

The Touch Creation as of late delivered another tune named "Euta Prashna" in the melodic voice of well known artist Swaroop Raj Acharya.The music of the melody is made by Niroj Lama, with verses by Dr. Rishi Bastakoti and music by Rajesh Thapa. The sound blending is finished by Kishore Thapa. The music video highlights artist Acharya himself, and was shot by Mukesh Humagai, altered by Binod Bam and coordinated by Pooja Thakuri."Many individuals were posed numerous inquiries throughout everyday life," says Bastakoti, the melody's author. "This time I needed to pose myself an inquiry. What's more, subsequently this melody was born.''Composer Rajesh Thapa communicated his pride in teaming up on a significant tune with a way of thinking of life, while vocalist Swaroop Raj Acharya is confident that this melody will get the very love as his past creations.Stating that he was energized by the underlying reaction after the tune became public, Bastakoti likewise encouraged everybody to pay attention to the melody once, as contacting hearts and minds is implied.

News

 Nepal has arisen as the bosses of the ACC Head Cup subsequent to beating Joined Bedouin Emirates (UAE) in the finals of the competition at the Tribhuvan College (TU) Global Cricket Arena on Tuesday. Recently, the hosts, Nepal had won the throw and chose to handle first. UAE had figured out how to set up 106 runs in 27.3 overs at the deficiency of nine wickets before the storm slowed down the game for the second time on the day. The match between hosts, Nepal and visiting UAE continued from a similar point as planned at 9:00 am. Nepal had the option to bowl out all of UAE efficiently for 117 runs.Nepali, left-arm-standard, Lalit scalped four wickets in his 7.1 overs while just offering 14 runs. Additionally, both Sandeep Lamichhane and Karan KC carved two wickets to their name. Furthermore, Sompal Kami and Gulshan Jha too made significant commitments by taking one wicket each.For UAE, just Asif Khan had the option to reach to a good all out subsequent to making 46 runs off 54 deliveries.Chasing the 118 run target set by UAE, Gulshan Jha held his nerves to see Nepal cross the end goal in the wake of crushing 67 runs that happened to 84 conveyances. Essentially, Bhim Sharki, who made 36 runs (off 72 balls), and Gulshan Jha stayed not out in their batting innings.After beginning frenzy, every one of the three batsmen including Kushal Bhurtel, Aasif Sheik and captain Rohit Paudel were restricted to single digit scores of one run each for Bhurtel and Paudel and 8 runs for Sheikh.Nepal enlisted a seven wicket triumph after easily pursuing the objective in 30.3 overs amidst enthusiastic Nepali fans that conquered downpour and cloudy circumstances to see their group through.Rohan Mustafa of UAE finished his 10-over standard in which he took two Nepali wickets that incorporated any semblance of Bhurtel and Paudel while just offering 13 runs.Gulshan Jha was granted the man of the match considering his praiseworthy contibutions in both the bowling and batting departments.Similarly, star leggie Sandeep Lamichhane was granted the player of the series for his remarkable performace all through the Chief Cup. Lamichhane has played five matches in the ACC Chief Cup bowling a sum of 37.1 overs in which he has figured out how to require 13 wickets.Tuesday had been kept as hold day in the event that the last was hampered because of downpour. Since the match couldn't be progressed forward with a water-stopped wicket, the coordinate ref Sarika Prasad in accordance with the rules for the competition had declared to move the play to save day.READ MORE: Downpour plays spoilsport; Nepal versus UAE finals of ACC Head Cup to continue on TuesdayNepal grabbed a notable triumph as the champs of the ACC Chief Cup are to procure a billet in the Asia Cup where they will be gathered with India and Pakistan in Gathering A. Bangladesh, Sri Lanka and Afghanistan are in Gathering B of the occasion scheduled for September in Pakistan.However, with the new improvement of Leading group of Control for Cricket in India's (BCCI) dismissal of the Pakistan Cricket Borad's (PCB) half and half model proposition, the Asia Cup which was scheduled to be coordinated in Pakistan this September is in risk.