Author: Rishit Shah
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Co-Products, By-Products & Scrap in TallyPrime: 3 Steps + Examples
TallyPrime allows you to create Bills of Materials (BoMs) that not only handle the main product but also account for co-products, by-products, and scrap generated during the manufacturing process. Here’s a detailed explanation with examples: 1. Understanding Co-Products, By-Products, and Scrap: 1. Co-products: These are commercially valuable products produced alongside the main product in a…
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Multiple Bill of Materials (BOMs) in TallyPrime: 3 Steps + Example
TallyPrime offers the flexibility to create and manage Multiple BOMs for a single stock item. This functionality is beneficial when your manufacturing process allows for variations in the components used to produce the same finished product. Here’s a detailed explanation with examples: 1. Understanding Multiple BOMs in TallyPrime: This approach involves creating different BOMs for…
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Single Bill of Materials (BOM) in TallyPrime: 3 Steps + Example
TallyPrime allows you to manage manufacturing processes by creating Bill of Materials (BOM) for stock items. A BOM details the raw materials, components, and quantities needed to produce a finished product. Here’s a breakdown of creating and using single BOMs in TallyPrime: 1. What is a Single BOM? A single BOM is ideal when a…
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Return Stock Items to Third Party in TallyPrime: 5 Steps + Example
In TallyPrime, you can effectively record the return of stock items to a third party using the Stock Journal voucher with a specific configuration. Here’s a detailed breakdown of the process: 1. Scenario: 2. Recording Stock Return in TallyPrime: 1. Stock Journal (Alt+F7 -> Journal): Create a new voucher by selecting Stock Journal. 2. Party…
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Consume/Sell Stock Received from Third Party in TallyPrime: 2 Ways
TallyPrime doesn’t have a specific “consume” option for stock received from third parties. However, depending on your scenario, you can achieve similar results using two different approaches: Scenario 1: Selling Stock Received on Consignment If you received the stock on consignment (meaning you’re selling it on behalf of the third party), you can record the…
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Record Stock Received from Third Party in TallyPrime: 5 Easy Steps
In TallyPrime, you can record stock received from third parties using the Purchase Voucher while specifying the dedicated godown you created for such inventory. Here’s a detailed breakdown of the process with an example: 1. Scenario for Recording Stock Received from Third Party in TallyPrime: 2. Recording Stock Receipt in TallyPrime: 1. Purchase Voucher (Ctrl+F9):…
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Set up Godowns for Stock Received from Third Party in TallyPrime
In TallyPrime, you can effectively set up Godowns/Locations to track stock received from third parties. This allows you to maintain separate inventory records for items you receive from external sources, such as suppliers sending goods on consignment or materials received for job work. Here’s a detailed guide on configuring TallyPrime for managing stock received from…
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Consume Stock from Godowns Created for Third Party in TallyPrime
TallyPrime doesn’t offer a direct “consume stock” option for third-party godowns. However, you can effectively track “consumption” (sales) of stock entrusted to third parties by leveraging the Sales Voucher functionality with a specific allocation method. Here’s how it works: Scenario: You manage inventory sent on consignment to “ABC Electronics” in a dedicated godown named “ABC…
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Transfer of Stock to Third Party in TallyPrime: 2 Options + Examples
TallyPrime offers efficient tools for managing inventory movement within your organization and tracking stock sent to third parties. Here’s a detailed breakdown of transferring inventory between godowns (locations) and recording stock transfers to external parties: 1. Transferring Inventory Between Godowns: 1. Stock Transfer Voucher (Ctrl+Shift+F9): Utilize this dedicated voucher type for internal stock transfers between…
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Set up Godowns to Track Stock Sent to Third Party in TallyPrime
In TallyPrime, you can effectively track inventory sent to third parties by setting up dedicated Godowns/Locations for consignment sales or job work scenarios. Here’s a detailed guide on configuring TallyPrime to manage stock sent to third parties: 1. Creating Godowns for Third-Party Stock: 1. Gateway (Alt+F12): Launch TallyPrime and navigate to the Gateway by pressing…