How to Create a Stock Group in TallyPrime: 6 Easy Steps

Here are the steps on how to create a stock group in TallyPrime:

1. Access the Stock Group Creation Screen:

• Option 1: Navigate to Gateway of Tally > Create > type or select Stock Group > and press Enter.
• Option 2: Use the shortcut Alt+G (Go To) > Create Master > type or select Stock Group > and press Enter.

2. Enter Group Details:

• Name: Provide a descriptive name for the stock group (e.g., “Raw Materials”, “Finished Goods”, “Electronics”).
• Under: Select the parent group under which this group will be placed. You can choose “Primary” if you want it at the top level.

3. VAT Configuration (if applicable):

• Enable Set/Alter VAT details: Check this option if VAT applies to the items in this group.
• Set VAT Details: Press F12 (Configure) and set the option “Set VAT details” to Yes.
• Provide VAT Classification: Choose the appropriate VAT classification from the list.

4. Excise Configuration (if applicable):

• Enable Set/Alter excise details: Check this option if excise duty applies to the items in this group.
• Provide Excise Details: Enter the necessary excise details, such as classification, duty ledgers, and rule books.

5. Other Options:

• Should quantities of items be added: Enable this option if you want to track quantities for items in this group.

6. Save:

• Press Enter to save the stock group.

Additional Tips while Creating Stock Groups in TallyPrime:

• Use a logical naming structure for your stock groups to make them easy to find and manage.
• Consider creating sub-groups within stock groups to further organize your inventory.
• Review and update VAT and excise details regularly to ensure compliance with regulations.
• Refer to TallyPrime’s Help documentation for more detailed instructions and troubleshooting tips.