TallyPrime offers various functionalities to gain valuable insights into your business’s stock position, which refers to the quantity and value of your on-hand inventory at a specific point in time.
Here’s a detailed explanation of these methods with examples:
1. Stock Summary Report:
This is the most basic and comprehensive report for understanding your overall stock position.
1. Access:
- Open the Gateway (usually
Alt+F12
). - Navigate to “Reports” followed by “Inventory Reports” and then “Stock Summary.”
2. Date Range:
- Select the desired date range (e.g., current month, specific financial year) to view the stock position for that period.
3. Report Breakdown:
- The report displays various details for each stock item, including:
- Item Name
- Opening Balance (stock quantity at the beginning of the selected period)
- Purchases (total quantity purchased during the period)
- Sales (total quantity sold during the period)
- Closing Balance (stock quantity available at the end of the selected period)
- Valuation (total value of the closing stock, calculated based on the cost price per item)
Example:
You generate a Stock Summary report for April 2024. The report shows that for “T-Shirts” (a stock item):
- Opening Balance: 100 units
- Purchases: 200 units
- Sales: 150 units
- Closing Balance: 50 units
- Valuation (assuming cost price per T-Shirt is Rs. 100): Rs. 5,000
2. Stock Item Enquiry:
This report provides a detailed view of a specific stock item’s transactions and current position.
1. Access:
- Open the Gateway.
- Navigate to “Inventory Info” and select “Stock Items.”
- Choose the desired stock item from the list.
2. Report Breakdown:
- The report displays information like:
- Purchase and sales details for the selected item, including quantity, rate, and value.
- Current stock balance (quantity) and its valuation.
- Stock ledger entries with detailed transaction information.
Example:
You access the Stock Item Enquiry for “Mobile Phones.” The report reveals:
- Current Stock Balance: 25 units
- Recent purchase transactions with quantities, rates, and total cost.
- Sales details for mobile phones sold during the period.
3. Stock Ageing Analysis:
This report helps identify slow-moving or stagnant inventory, allowing you to make informed decisions about stock management.
1. Access:
- Open the Gateway.
- Navigate to “Reports” followed by “Inventory Reports” and then “Stock Ageing Analysis.”
2. Report Breakdown:
- The report categorizes your stock items based on how long they’ve been in inventory (e.g., 0-30 days, 31-60 days, etc.).
3. Analysis:
- Analyze the report to identify items with longer ageing periods, potentially indicating slow-moving inventory that might require discounts, marketing efforts, or re-evaluation of stock levels.
Example:
The Stock Ageing Analysis shows that a particular type of “Shirt” has a significant quantity in the 91-180 days age bracket.
This might indicate a need to consider clearance sales or promotions for these shirts.
4. Additional Tips to Know Your Stock Position in TallyPrime:
- Utilize stock valuation methods (FIFO, Average) within TallyPrime settings to determine the appropriate cost price for your closing stock value in the Stock Summary report.
- Regularly review stock reports to maintain optimal inventory levels, minimize stockouts, and avoid holding onto slow-moving inventory for extended periods.
- Consider using features like reorder levels within stock item configurations to automate purchase suggestions when stock reaches a predefined minimum threshold.
By effectively utilizing these methods for stock position analysis in TallyPrime, you gain valuable insights into your inventory health, enabling you to make data-driven decisions for improved inventory management and overall business performance.
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