Record Manufacturing of Finished Goods in TallyPrime: 4 Easy Steps

Jan 17, 2024

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by

Rishit Shah

in Difficult

Here’s how to record the manufacturing of finished goods in TallyPrime:

Table of Contents

1. Enable Manufacturing Journal:

Go to Gateway of Tally > F11 (Features).
Under Inventory Features, set Enable Manufacturing Journal? to Yes.
Press Ctrl+A to save the changes.

2. Create a Manufacturing Journal Voucher:

Go to Gateway of Tally > Vouchers > F10 (Other Vouchers) > Manufacturing Journal.
Alternatively, press Alt+G (Go To) > Create Voucher > type or select Manufacturing Journal.

3. Enter Manufacturing Details:

Date: Enter the date of manufacturing.
Product: Select the finished good being manufactured from the list.
BOM (Bill of Materials): If applicable, select the BOM that defines the components and their quantities required for production.
Location: Specify the godown where the finished goods will be stored.
Quantity: Enter the quantity of finished goods produced.
Components: If not using a BOM, manually enter the raw materials or components consumed, along with their quantities.
Additional Costs (Optional): Include any other manufacturing expenses, such as labor or overheads.

4. Finalize and Save:

Review the entered details carefully.
TallyPrime will automatically calculate the cost of production, including material and additional costs.
Press Ctrl+A to save the voucher.

Important Considerations for Manufacturing Journal:

Cost Allocation: TallyPrime allows you to allocate manufacturing costs to the finished goods and any co-products or by-products produced.
Stock Movement: The Manufacturing Journal automatically updates the stock levels of raw materials, components, and finished goods.
Excise: If applicable, ensure proper excise settings for finished goods and components.
Reports: Generate reports like Stock Summary and Manufacturing Journal Register to track manufacturing activities and costs.

Additional Tips while Recording Manufacturing of Finished Goods in TallyPrime:

Consider using Batch Processing for repetitive manufacturing processes.
Utilize TallyPrime’s features for managing multiple godowns and inter-godown transfers for efficient stock control.
Regularly review manufacturing reports to identify areas for optimization and cost control.

By following these steps and utilizing TallyPrime’s features effectively, you can accurately record the manufacturing of finished goods, maintain accurate inventory records, and track production costs for better decision-making.