Difference: Stock in Books & Physical Stock in Tallyprime

TallyPrime offers a two-step approach to identifying the difference between the stock in books (system records) and the physical stock (actual count):

Step 1: Perform a Physical Stock Count

  1. Conduct a physical count of your inventory, ensuring all stock items across all godowns (if applicable) are accurately recorded.

Step 2: Record Physical Stock Adjustments

  1. Go to the Gateway of Tally (Alt+F12).
  2. Navigate to Vouchers > Create Voucher > Ctrl+F7 (Physical Stock).

Alternatively, you can use a keyboard shortcut:

  • Press Alt+G (Go To) and type or select “Physical Stock.”
  1. Enter the following details in the Physical Stock Voucher:
    • Date: Date of the physical stock count.
    • Items: Select the stock items for which you want to record the physical stock quantity. You can enter the quantity manually or import it from a separate file.
    • Godown (Optional): If you maintain multiple godowns, specify the godown where the physical count was conducted.
    • Batch (Optional): If batch tracking is enabled, select the specific batch for each stock item.
    • Physical Stock: Enter the actual quantity found during the physical count for each item.
    • Narration (Optional): Briefly explain any discrepancies between the book stock and the physical stock (e.g., breakage, shrinkage).
  2. Save the Physical Stock Voucher.

1. Analyzing the Difference:

There are two main ways to view the difference between book stock and physical stock after recording adjustments:

Method 1: Physical Stock Register Report in TallyPrime

  1. Go to the Gateway of Tally (Alt+F12).
  2. Navigate to Display > Inventory Books > Physical Stock Register.

Alternatively, you can use a keyboard shortcut:

  • Press Alt+G (Go To) and type or select “Physical Stock Register.”
  1. This report displays a summary of adjustments made through Physical Stock Vouchers. Analyze the “Difference” column to identify variations between book stock and physical stock for each item.

1. Example of Physical Stock Register Report:

The report might show:

MonthDateVoucher No.Item NameGodown (Optional)Batch (Optional)Book StockPhysical StockDifferenceNarration (Optional)
May25-May-2024PHY-001Monitor2018-2Possible breakage

Method 2: Stock Summary Report with Post-Dated Entries in TallyPrime

  1. Go to the Gateway of Tally (Alt+F12).
  2. Navigate to Reports > Inventory Reports > Stock Summary.
  3. Press Alt+C (New Column) and set the “From” date to the date of your physical stock count (post-dated entry).
  4. Export the report to a spreadsheet program (e.g., Excel).

2. In the Spreadsheet:

  1. Create a new column to calculate the difference. You can use a formula like =Physical Stock - Book Stock (adjust cell references as needed).

1. Example (assuming data is exported to Excel):

Item NameBook StockPhysical StockDifference
Monitor2018-2

3. Benefits of Viewing the Difference Between Stock in Books & Physical Stock in Tallyprime:

  • Identifies discrepancies between your system records and the actual physical inventory.
  • Helps investigate the reasons for stock variances (e.g., shrinkage, breakage, errors).
  • Enables you to reconcile inventory records based on physical count results.
  • Improves inventory accuracy and control.

4. Additional Considerations:

  • Investigate significant discrepancies and take corrective actions to minimize future variances.
  • Regularly conduct physical stock counts and record adjustments to maintain accurate inventory records.
  • Leverage the “Narration” section in Physical Stock Vouchers to document reasons for stock differences, aiding future analysis.

By following these steps and effectively utilizing the available reports in TallyPrime, you can gain valuable insights into the discrepancies between your book stock and physical stock, enabling you to optimize your inventory management practices.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *