Inventory Masters -Stock Groups, Categories

Inventory Masters

The Inventory Info menu, lists the inventory masters like Stock Group, Stock Items, Units of Measure of the company, using which you can create, alter and display the inventory master details.

By using F11: Features , you can enable the various settings under inventory features which determine the information to be entered during transaction entries.

By using F12: Configure , you can enable the required settings of Inventory Masters .

By default, the settings pertaining to Inventory Masters are set to No . If you set them to Yes , the features will be enabled. Typically, they are additional fields that appear during Masters creation which enable you to obtain more information and detailed analysis.

Note: If you press F12 anywhere in the Menu, it will take you to the configuration menu.

Stock Group

Stock Groups in Inventory are similar to Groups in Accounting Masters. They are helpful in the classification of Stock Items. You can group Stock Items under different Stock Groups to reflect their classification based on some common features such as brand name, product type, quality, and so on. Grouping enables you to locate Stock Items easily and report their details in statements.

Create Single Stock Groups

Stock Items are classified into stock groups to reflect their classification based on some community.

1. Go to Gateway of Tally > Inventory Info. > Stock Groups > Create (under Single Stock Group ).

2. Enter the Name of the Stock Group.

3. Enter additional name apart from primary name [if required] in the field Alias . You can create any number of additional names.

4. Specify whether it is a primary group or a sub-group of another group in the field Under , by selecting from the list.

5. Press Alt+C to create a parent group, if you do not have it in the list.

6. The field Should quantities of items be added pertains to information on measuring the units of the Stock Items that you would categorise under the Stock Group . The Stock Items categorised under the group should have similar units for them to be added up. You cannot add quantities in Kgs to quantities in Pcs .

7. Enable the option Set/alter GST Details to define the GST rate .

8. Press Enter to save.

Create Multiple Stock Groups

Tally.ERP 9 allows you to create Stock Groups using single or multiple options.

1. Go to Gateway of Tally > Inventory Info. > Stock Groups > Create (under Multiple Stock Groups ).

2. Select the parent group under which you want the new groups to be created from the List of Groups .

3. Enter the Name of the Stock Group.

4. If you select any group other than All Items in the Under Group field, then this column is filled in automatically with the selected Group name and the cursor skips this column. This will speed up data entry.

5. If you select All Items in the Under Group field, the cursor does not skip this field and allows you to enter the parent group for each one of them.

6. In the field Should Quantities of Items be Added you can select whether units of the Stock Items under Stock Group are to be added or not.

Display Single Stock Group

You can display the existing Stock Group in Single mode and multiple mode, since it is only display Tally.ERP 9 does not allow you to alter any information in display mode.

1. Go to Gateway of Tally > Inventory Info. > Stock Groups > Display (under Single Stock Group ).

2. Select the Stock Group whose particulars you want to display from the List of Groups . The Stock Group Display screen appears.

Note: Category and Godown buttons are visible only if you have opted for the same in F11: Features.

Stock Categories

Stock Category offers a parallel classification of stock items. Like stock Groups, classification is done based on similarity in behaviour.

For example,

Stock Item	Sub Group	Main Group	Sub-Category	Main Category
Brand A - 19” LED TV	Brand A	Grade One	LED TV	Television
Brand A - 17” Smart TV	Brand A	Grade One	Smart TV	Television
Brand B - 19” LED TV	Brand B	Grade Two	LED TV	Television
Brand B - 17” Smart TV	Brand B	Grade Two	Smart TV	Television

The advantage of Categorizing items is that you can classify the stock items (based on functionality) together – across different stock groups which  enables you to obtain reports on alternatives or substitutes for a stock item.

For enabling Stock Category option in the Inventory Info menu, press F11 > Inventory Features > Set Yes for Maintain stock categories .

Create a single Stock Categories

This option allows parallel classification of stock items. Like Stock Groups, Stock Categories are also classified based on some similar behaviour. This enables you to obtain reports for alternatives or substitutes of a stock item.

1. Go to Gateway of Tally > Inventory Info. > Stock Categories > Create (under Single Stock Category). The Stock Category Creation screen is displayed as shown below:

2. Enter the Name of the Stock Category.

3. Specify whether it is a primary category or a sub-category of another category in the field Under. Select Primary from the list, if you do not have a parent group. Use Alt +C to create a parent if you do not have the required category in the list.

4. Press Enter to save.

Display a single Stock Category

You can display the existing Stock Category in Single mode and multiple mode, since it is only display Tally.ERP 9 does not allow you to alter any information in display mode.

1. Go to Gateway of Tally > Inventory Info. > Stock Categories > Display (under Single Stock Category).

2. Select the Category for which you want to view the display details from the List of Categories . The Stock Category Display screen shows the details entered in Stock Category Master.

Also Read : Accounting Masters in Tally