Additional Costs/Expenses of Stock Transfers in Stock Journal in TallyPrime

When transferring goods between locations (godowns) in TallyPrime, the Stock Journal voucher allows you to record not only the movement of stock itself, but also any additional expenses incurred during the transfer process.

These additional costs represent any financial outlays beyond the base cost of the goods themselves.

1. Examples of Additional Costs:

1. Transportation Costs:

Expenses for hiring a delivery truck, fuel charges, or fees associated with transporting the goods to the destination godown.

2. Packing and Crating:

Costs for special packaging or crating materials used to ensure the safety of the goods during transport.

3. Insurance:

Premiums paid for insurance coverage on the goods in transit.

4. Loading and Unloading Charges:

Labor or equipment costs associated with loading the goods onto the transport vehicle and unloading them at the destination.

5. Permits or Fees:

Specific permits or fees required for transporting goods in certain cases.

2. Recording Additional Costs in Stock Journal:

1. Access the Stock Journal Voucher:

• Open TallyPrime’s Gateway (usually Alt+F12).
• Navigate to “Vouchers” and select “Stock Journal” (or press Alt+F7).

1. Alternative Method (Optional):

Press Alt+G (Go To) and choose “Create Voucher” followed by “Stock Journal.”

2. Enable “Track Additional Costs” (Optional):

This might be necessary depending on your TallyPrime configuration:

* Press `Alt+G` (Go To) and choose "Alter Master" followed by "Voucher Type."
* Select "Stock Journal" from the list of voucher types.
* Look for an option like "Track Additional Costs for Purchases" or a similar setting. Tick this box if not already enabled.
* Press `Ctrl+A` to save the changes. 

3. Enter Source (Consumption) Details:

Enter the source godown details and select the stock items being transferred.

4. Enter Destination (Production) Details:

Enter the destination godown details and verify the transferred items.

5. Record Additional Cost Details:

• After entering destination details, you might see an option like “Additional Cost Details” or a similar prompt. Press Enter to access this section.
• You can create a new ledger account specifically for “Stock Transfer Charges” or any relevant expense category (e.g., “Transportation Charges,” “Packing & Crating”).
• Enter the amount of the additional cost incurred.
• Use the narration field to describe the additional cost.

3. Example: Transferring Furniture with Transportation Cost

1. Scenario:

You’re transferring furniture from your warehouse to a customer’s location. The furniture cost is Rs. 10,000, and you incur a transportation cost of Rs. 500.

2. Steps:

1. Follow the steps mentioned above to access the Stock Journal voucher and enable “Track Additional Costs” (if necessary).
2. Source Details:
   • Enter source godown details (e.g., “Main Warehouse”).
   • Select the “Furniture” stock item.
   • Enter the quantity being transferred (e.g., 1).
3. Destination Details:
   • Enter the customer’s location details as the destination godown.
   • Verify that “Furniture” is listed as the transferred item.
4. Additional Cost Details:
   • Access “Additional Cost Details.”
   • Create a new ledger account named “Stock Transfer Charges” (or use an existing relevant account).
   • Enter the transportation cost (Rs. 500) in the amount field.
5. Narration:
   • In the narration field, mention “Transfer of Furniture (Cost: Rs. 10,000) with Transportation Cost (Rs. 500)”.

4. Benefits of Recording Additional Costs in Stock Journal in TallyPrime:

1. Accurate Cost Tracking:

Captures the total cost of delivering goods, providing a clearer picture of inventory management expenses.

2. Informed Decision Making:

Helps you make better decisions about logistics and pricing strategies by understanding transfer-related costs.

3. Enhanced Reporting:

Enables generating reports that include both stock movement and associated transfer costs, providing valuable insights.

5. Additional Tips:

• Configure cost accounts in your ledger for frequent stock transfers to streamline recording additional expenses.
• Maintain consistency in applying cost accounts and descriptions for better data organization.

By leveraging the Stock Journal voucher’s ability to record additional costs, you gain a more comprehensive understanding of your inventory management processes and make better financial decisions in TallyPrime.