Transfer of Stock to Third Party in TallyPrime: 2 Options + Examples

TallyPrime offers efficient tools for managing inventory movement within your organization and tracking stock sent to third parties.

Here’s a detailed breakdown of transferring inventory between godowns (locations) and recording stock transfers to external parties:

1. Transferring Inventory Between Godowns:

1. Stock Transfer Voucher (Ctrl+Shift+F9):

Utilize this dedicated voucher type for internal stock transfers between your godowns.

2. Example:

You want to move 20 units of “T-Shirts (Medium)” from the “Main Warehouse” to the “South Branch.”

  • Create a Stock Transfer Voucher.
  • In the “From” section, select “Main Warehouse” as the transferring godown.
  • In the “To” section, choose “South Branch” as the receiving godown.
  • Add the item “T-Shirts (Medium)” with a quantity of 20.
  • Accept the voucher to record the internal transfer.

2. Recording Transfer of Stock to Third Party:

Option 1: Dedicated Godown for Third-Party Stock

1. Create a Godown for Third-Party Inventory:

This method involves setting up a dedicated godown to track inventory entrusted to a third party.

  • Follow the steps outlined in the previous section on “Set up Godowns/Locations to track stock sent to third party in TallyPrime.”

2. Stock Transfer Voucher (Ctrl+Shift+F9):

Use the Stock Transfer Voucher to move stock from your main stock to the newly created third-party godown.

3. Example:

You’re transferring 10 “Laptops (i7 Processor)” to “ABC Electronics Consignment.”

  • Create a Stock Transfer Voucher.
  • Select your main stock location as the transferring godown.
  • Choose “ABC Electronics Consignment” (the dedicated godown) as the receiving godown.
  • Add the item “Laptops (i7 Processor)” with a quantity of 10.
  • Accept the voucher to record the transfer.

Option 2: Sales Voucher with Stock Allocation

This approach leverages the Sales Voucher functionality with a specific allocation method.

1. Sales Voucher (Alt+F8):

Create a Sales Voucher as usual, selecting the customer (third party) and the item(s) being sent.

2. Stock Allocation Screen:

In the “Stock Item Allocations” screen within the Sales Voucher, choose the relevant godown from where you’re transferring the stock.

3. Example:

You’re selling 5 “Mobile Phones” to “XYZ Retail.” During stock allocation, select the godown where you store inventory for “XYZ Retail” (e.g., “XYZ Retail Stock”).

  • This ensures the sale is linked to the designated third-party stock location.

3. Benefits of Both Approaches:

1. Accurate Inventory Tracking:

Both methods enable precise tracking of stock movement, differentiating between internal and external transfers.

2. Enhanced Reporting:

Dedicated reports like Godown Summary or Stock Enquiry (explained earlier) provide insights into inventory levels across godowns, including those holding third-party stock.

3. Improved Control:

Tracking third-party inventory separately facilitates better control over entrusted stock.

4. Choosing the Right Approach:

1. Dedicated Godown:

If you frequently send inventory to specific third parties or manage consignment stock, creating dedicated godowns offers a more organized and detailed tracking system.

2. Sales Voucher with Stock Allocation:

This approach might be suitable for occasional transfers to external parties or situations where dedicated godowns aren’t necessary.

5. Additional Considerations while Transferring Stock To Third Party in TallyPrime:

  • Regardless of the chosen method, reconcile your records with the third party periodically to ensure accuracy.
  • Explore features like Delivery Notes (accessible through Alt+F10 -> Other Vouchers) to print documents accompanying inventory transfers.

By understanding and applying these methods for managing transfers and third-party stock in TallyPrime, you can efficiently track inventory movement, generate comprehensive reports, and maintain greater control over your overall inventory management processes.

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