Create Stock Items for Finished Goods (With BOM) in TallyPrime

Here’s how to create Stock Items for Finished Goods (With BOM) in TallyPrime with examples:

1. Accessing Stock Item Creation:

There are two ways to access Stock Item creation:

• Gateway of Tally: Go to Gateway of Tally > Inventory Info. > Stock Items > Create.
• Shortcut: Alternatively, press Alt+G (Go To) > Create Master > type or select Stock Item > press Enter.

2. Creating a Finished Good Stock Item (With BOM):

• Name & Alias: In the “Name” field, enter the name of your finished good. You can also specify aliases (alternate names) for the item.
• Example: Name: Bicycle (Mountain Bike)
• Stock Group: Select the appropriate Stock Group where this finished good belongs. Stock Groups help categorize your inventory.
  • If you haven’t created any Stock Groups yet, you can create one on the fly using Alt+C in the “Under” field.
  • Example: Under: Finished Goods (if the group exists)
• Unit: Choose the Unit of Measurement (UOM) applicable to your finished good. This could be pieces, sets, etc.
  • Example: Unit: Nos.
• Enable Cost Tracking:
  • Set this option to “Yes” to track the individual production cost of each finished good (useful for businesses with varying production costs). This will consider the cost of components in the BOM.
• Enable BOM: This is crucial for finished goods with components. Set “Set Components (BOM)” to “Yes”.

3. Defining Bill of Materials (BOM):

• After enabling BOM, press Enter. This opens the “Stock Item Multi Components (M BOM)” screen.
• Name of BOM: Here, specify a name for the Bill of Materials. You can have multiple BOMs for a product if needed.
  • Example: Name of BOM: Standard
• Stock Item Components (BOM): This section defines the components required to manufacture the finished good.
  • Item: Select the raw material Stock Item from the list.
  • Stock UOM: This unit reflects how the raw material is tracked in inventory (e.g., kgs for steel).
  • Qty per Mfg: Enter the quantity of the raw material required to produce one unit of the finished good.
  • UOM for Mfg: This unit reflects how the raw material is consumed during production (e.g., meters of steel pipe for a bicycle frame). It might differ from the Stock UOM.
  • You can add multiple rows for each component needed in the finished good.
• Unit of Manufacture: Specify the number of finished goods produced using the components listed in the BOM.
  • Example: Unit of Manufacture: 1 (assuming one BOM produces one bicycle)

4. Saving the Stock Item:

Once you’ve defined the BOM details, press Ctrl+A to save the finished good Stock Item with its Bill of Materials.

5. Example: Creating a Stock Item for Bicycle (Mountain Bike) using BOM:

Creating a Stock Item for Bicycle (Mountain Bike) with BOM:

• Name: Bicycle (Mountain Bike)
• Alias: (leave blank)
• Under: Finished Goods (assuming the group exists)
• Unit: Nos.
• Enable Cost Tracking: Yes
• Enable BOM: Yes
• BOM Details:
  • Item: Steel Pipe (Frame)
  • Stock UOM: Meters
  • Qty per Mfg: 3 meters
  • UOM for Mfg: Meters
  • Item: Rubber Tire (700c)
  • Stock UOM: Nos.
  • Qty per Mfg: 2
  • UOM for Mfg: Nos.
  • (Add more components as needed)
• Unit of Manufacture: 1

6. Additional Considerations:

• You can create multiple BOMs for a product if you have alternative component options.
• TallyPrime allows defining variances and wastages during production through the manufacturing voucher.

By following these steps, you can create Stock Items for finished goods with Bills of Materials (BOM) in TallyPrime. This helps you track inventory requirements and production costs based on the components used.