TallySchool

Author: Rishit Shah

  • Know Your Stock Details in TallyPrime: 4 Easy Ways + 4 Examples

    —

    by

    Rishit Shah
    in

    TallyPrime offers several functionalities to help you understand your stock details effectively. Here’s a breakdown of the key methods and examples: 1. Stock Summary Report in TallyPrime: This report provides a comprehensive overview of your inventory, including: 1. Opening Stock Value: The total cost of your stock items at the beginning of the selected period.…

  • Cleared Purchase Bills in TallyPrime: 5 Easy Steps + Example

    —

    by

    Rishit Shah
    in

    In TallyPrime, Cleared Purchase Bills represent purchase transactions where both the goods and the corresponding bill (invoice) have been received and processed. They signify a complete purchase cycle, from receiving the inventory to settling the payment obligation to the supplier. Here’s a detailed explanation of Cleared Purchase Bills with examples: 1. Understanding Cleared Purchase Bills…

  • Bills Received But Goods Not Received in TallyPrime: 2 Examples

    —

    by

    Rishit Shah
    in

    This situation occurs when you receive a bill (invoice) from a supplier for goods you haven’t yet received. While TallyPrime doesn’t have a specific voucher type for this scenario, you can manage it effectively using the following methods: 1. Manual Journal Entry (Recommended): This method provides a clear record of the outstanding purchase liability while…

  • Goods Received But Bills Not Received in TallyPrime: 2 Examples

    —

    by

    Rishit Shah
    in

    This situation arises when you receive inventory from a supplier but haven’t yet received the bill (invoice) for the purchase. TallyPrime offers functionalities to record this scenario and manage your inventory effectively. Here’s a detailed explanation with examples: 1. Recording Goods Received But Bills Not Received: 1. Create a Receipt Note: 2. Importance of Receipt…

  • Stock Group Summary in TallyPrime: 4 Steps + Example

    —

    by

    Rishit Shah
    in

    The Stock Group Summary report in TallyPrime offers a consolidated overview of your inventory, categorized by pre-defined stock groups. It provides a higher-level perspective compared to the Stock Summary report, helping you analyze inventory performance across product categories. Here’s a detailed explanation with examples on how to view it: 1. Understanding Stock Group Summary: 1.…

  • Stock Summary in TallyPrime: Easily Explained with Examples

    —

    by

    Rishit Shah
    in

    In TallyPrime, the Stock Summary report serves as a vital tool for understanding your inventory health at a glance. It provides a comprehensive overview of your stock items, including their quantity, value, and movement throughout a specific period. 1. Understanding Stock Summary in TallyPrime: 1. Information Provided in the Stock Summary Report: 2. Benefits of…

  • View Edit Log for Stock Items in TallyPrime: 2 Methods + Example

    —

    by

    Rishit Shah
    in

    In TallyPrime, the Edit Log functionality allows you to track and review any changes made to stock item information. This is particularly valuable for maintaining transparency and ensuring data integrity in your inventory management. Here’s a detailed explanation on how to view the Edit Log for stock items in TallyPrime, including an example: 1. Accessing…

  • Closing Stock Values in TallyPrime: 3 Easy Steps + Example

    —

    by

    Rishit Shah
    in

    Closing stock refers to the value (cost) of the inventory you have remaining at the end of a specific accounting period, like a financial year. It becomes the opening stock for the subsequent period. Here’s a detailed explanation of closing stock values in TallyPrime, including calculations and examples: 1. Calculating Closing Stock: TallyPrime typically calculates…

  • Opening Stock Values in TallyPrime: 2 Methods + 2 Examples

    —

    by

    Rishit Shah
    in

    Opening stock refers to the value (cost) of the inventory you have on hand at the beginning of a specific accounting period, like a financial year. Here’s a detailed explanation of opening stock values in TallyPrime, including methods and examples: 1. Methods for Entering Opening Stock in TallyPrime: TallyPrime offers two primary methods for entering…

  • Stock Items in Transactions in TallyPrime: 5 Steps + 2 Examples

    —

    by

    Rishit Shah
    in

    Stock items are the core elements representing your inventory in TallyPrime. They play a crucial role in various transactions, allowing you to track purchases, sales, stock levels, and associated costs. Here’s a detailed explanation of stock items in TallyPrime transactions, including examples: 1. Understanding Stock Items in Transactions in TallyPrime: 1. Creating Stock Items: Before…