Tracking Through Receipt Notes and Delivery Notes
Generally, in any business, invoices are sent along with the goods. But there are cases when goods are dispatched first and invoices are sent later or vice versa. In such cases stocks should not be updated along with accounts. Tally handles such situations with the help of Tracking nos. You can receive / dispatch goods first and receive or send invoices later. You could also receive invoices followed by the material. Receipt notes and delivery notes are Inventory vouchers and hence will not affect accounts. Although these vouchers do not affect accounts they will be displayed in Profit and Loss Statement as a part of Purchases and Sales as Purchase bills to make and Sales bills to make.
-> activate Tracking nos in F11 features ® select Inventory Info -> select F9 -> select Receipt Notes -> enter Party details -> select item ® now user will have to specify tracking nos -> complete the voucher by specifying all other details. In case of delivery notes select Delivery Notes (F8) after selecting voucher entry -> then follow the same procedure as above. While raising invoices, recall the tracking no specified during the entry of inventory vouchers (Receipt note and Delivery notes).
How to view a report ?
-> Select Display -> select Statement of Inventory -> select Purchase bills Pending. Here the report will show information on 'Goods rec'd but purchase bill not rec'd as well as 'Purchase bill rec'd but goods not rec'd'.
REJECTION IN AND REJECTION OUT
Materials that are purchased or sold might be returned due to damages or for some other reasons. Tally handles these rejections with the help of Rejection in (for Sales returns) and Rejection out (for Purchase returns) Vouchers. These rejection entries will update inventory stocks immediately. The accounting part is updated by entering Credit Notes for Sales returns and Debit notes for purchase returns.
But in some cases the user would like to scrap those materials which are Rejected In (i.e. sales return), in such cases the user can activate the feature 'Treat all Sales Returned as Scrap' during creation of stock item or by going through Alter mode (for Stock Items) option.
-> activate Rejection Notes in F11 (features)
For Rejection In -> select Voucher Entry from 'Gateway of Tally' -> select F8 (Rejection In) -> select Party Ledger -> select item which is rejected (sales return) -> Tally displays the list of tracking nos. -> select particular tracking no., enter the qty and complete the transaction. For entering Rejection out select F9 (Rejection out) and continue with the transaction as above.
Additional Cost on Purchases :
When a purchase is made there are additional expenses like freight, handling charges, taxes etc incurred. These additional charges need to be added to the value of the product. Tally allows the user to add additional cost incurred, to the value of the product during the time of voucher entry or at a later stage.
There are two methods of adding additional cost on Purchases.
-> select F11 (features) -> activate 'Track additional cost of purchase' and save screen -> now, select Voucher entry -> select F9 (purchases) -> enter accounting details. When the user selects purchases, Tally displays list of inventory items -> select item, specify qty, rate, value. Tally now displays another screen, where the user has to specify the additional cost along with the percentage or can specify actual cost. The additional cost is added to the value of the product.
At times the user would have completed the purchases and would want to add additional cost on purchases at a later. Then follow the procedure below.
Firstly create a ledger account -> select Accounts info -> select Ledger -> select Create -> create new ledger, activate 'Inventory values are affected' and save screen -> select Voucher Entry -> select payments -> select the Ledger account (e.g. Customs Duty, Taxes, freight etc), the cost of which will have to be added to the to the value of stock item purchased -> Tally displays list of stock items -> select stock item and without specifying qty, specify value. Select other stock items and complete the transaction. This entry automatically updates the value of stock item.
How To a view report ?
If the user wishes to view additional cost for stock items for any purchase, then he can -> select Display -> Inventory Book -> Movement analysis -> select stock item analysis -> Tally displays all parties from whom the item has been purchased with their effective rate-> Drill down further and the user will be able to get information of all purchases with their basic rate, additional cost, total value and effective rate.
For Party wise/ Item wise/ stock group wise : Tally offers another important inventory management tool called Movement Analysis. With this report the user can analyse the movement pattern of materials either Party wise, Group wise, item wise etc. Using this report the user can analyse the price at which each party has supplied a particular item.
Movement analysis for Party shows, inward and outward movements of all stocks with effective rate and value for the selected party. Select an item and drill down further and Tally displays transaction wise details along with a separate column for additional cost.
Movement analysis of Stock items shows party wise inward and outward movements of stock items with basic rate and effective rate. Select any Party and Drill down further for more analysis
Movement analysis of a stock group shows the total inward and outward movement of stock items with their effective rates for that particular group of items.
-> select Display -> Inventory Books -> select Movement analysis -> select any option as per requirements -> You can drill down further to get more analysis.
PROFITABILITY ANALYSIS- Stock Group Wise / Stock Item Wise / Invoice Wise / Location
WiseTally automatically calculates gross profit for each and every item based on sale price and consumption cost. Gross profit is the difference in value between sale price and consumption value. Consumption value is calculated based on purchase price. Tally Calculates gross profits for each invoice, stock item, stock group as well as items location wise.
Stock group wise:
-> select Display -> select Inventory Books -> select Stock Group -> select F7 (Show profits) -> Tally displays sales value, consumption cost, gross profit along with %'s.