TALLY ERP Inventory Accounting

Tally ERP does most of the activities that any other inventory ERP does, like comprehensively record all types of inventory transactions, using goods receipt notes, delivery notes, stock journals, manufacturing journals and physical stock journals. All stock movements are fully recorded and maintained in stock registers. Inventory Accounting & Management

 Multi-location Stock Control  Comprehensive Recording of Stock Movement  Batch-wise or lot-wise Inventory  Re-Order Levels  Stock categories  Multiple godowns & Stock transfers  Sales and purchase order processing  Automatic invoice creation  Dual units of measure (say KG's and bags)  Physical stock take records to adjust physical vs. actual stocks  Stock ageing reports, to identify slow and non-moving stocks  Integrated purchase / sales return in bills  Job costing Capabilities

 Proper training to be given to factory in charges  Backlog accounting may affect routine accounting activities  Security levels to be re fixed Road Blocks

SUGGESTIONS 1.Sales team has to enter the sales details to the system and generate all invoice from tally 2.Purchase team should enter the data in tally and verify quantity in the system. 3.Factory team must be trained to pass stock transfer Journals and periodical reconciliation of actual stock, tally stock & register balances. 4.Trial run may begin from 15 th September 2011( after Onam holidays) 5.The entire team support is requested for getting the synergy effect and desired result.

If we can implement inventory accounting in factory level with proper training, that will help real time stock accounting and reporting. Also it reduces last minute calculation, rework for taxation as well as account finalization.

Thanks Sandeep V Anand, Officer – Accounts, M/s. Western India Cashew Co. (P) Ltd. P.B.No. 75, Beach Road, Kollam, Kerala. PH :