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Configurations in Stock Summary in Tally.ERP 9

Stock Summary can be further configured to derive the following information.

1. Stock Flow: This can be viewed using the F12: Configure button on the Tally.ERP 9 screen. The flow of stock ranging from opening stock, goods inwards, goods outwards to the closing stock can be analyzed in terms of its quantity. It gives you an insight into the quantitative movement of each stock item. However, for reconciling the closing balance value, this report cannot be referred to, since the outward goods are valued at the sales price and not the cost price.

2. Profitability and Consumption: This can be viewed using the F7: Show Profit button on the screen. Stock Summary shows the profitability and consumption details for each stock item. This statement shows the quantity and value of the opening stock, inward goods, outward goods, closing stock and the value of consumption (using the cost method). This statement is used to reconcile the closing balance because here the closing value is derived by taking the consumption values instead of the outward goods at sales value.

Stock Flow

You can configure the Stock Summary Statement to display the flow of goods.

  • Select F12: Configure while on the Stock Summary screen.

  • Set the configuration as shown.

 
[Img-2]

The Stock Summary displays the flow of stock, i.e. Opening Stock, Goods Inwards, Goods Outward and Closing Stock, as shown.

 
[Img-3]

The report is quantitatively reconciled, i.e., Opening quantity + Inward Quantity – Outward Quantity = Closing Stock Quantity. However, this is incorrect for the values as the Outward Value displays Sale Values, not Cost. The Closing Stock Value is, however, based on Cost and the Cost Method adopted for each item. Value Reconciliation is possible if you are using Consumption figures instead of Sales Values.

Profitability and Consumption

Stock Summary can also be expanded to show the gross value for outwards as well as the consumption and gross profit

  • Select F7: Show Profits or F12: Configure while on the Stock Summary screen.

  • Set the options Show Gross Value for Outwards  to Yes.

 
[Img-4]

The Stock Summary report is displayed as shown.


[Img-5]

Note: The Gross Value that appears is inclusive of the value of VAT/any other allowed ledgers that were chosen during the sales of the item.

To view the consumption and gross profits

  • Select F7: Show Profits or F12: Configure while on the Stock Summary screen.

  • Set the option Show Consumption and Gross Profits to Yes.

The Stock Summary report is displayed as shown.


[Img-6]

Note: The Gross Profit is calculated on the Gross Value which is inclusive of the values of VAT/allowed ledger under accounting allocation screen of the stock item.

The stock summary can be further expanded to show the gross profit on the gross value.

  • In F12: Configure, set the option Show Gross Profits on Gross Value to Yes.


[Img-7]

The Outward Column shows Cost of Goods Outwards termed as Consumption and Gross Profit value and percentage is displayed. The gross profit and percentage values are different from the previous values, as these are now calculated on the gross value.

This statement is useful to analyze:

  • Profitability Analysis of Sales (Outwards)

  • Value Reconciliation of Stock

Note: If the option Show All Items (incl. zero balance) is set to Yes, then it will display the stock items having transactions with Zero closing balance and non transacted items.

 
 
 
 
Tally.ERP 9 Reference Manual LIBRARY
1.
Installation of Tally.ERP9
2.
Site Licensing of Tally.ERP9
3.
Shortcut Keys in Tally.ERP9
4.
Maintaining Company Data
5.
Creating Masters
5a. Accounts Information [Creating Masters]
5b. Inventory Information [Creating Masters]
6.
Voucher Entry
7.
Reports in Tally.ERP9
8.
Excise for Dealer
9.
Excise for Manufacturer
10.
Reports [ Excise for Manufacturer]
11.
Excise for Importer
12.
Service Tax in Tally.ERP9
13.
Tax Collected at Source (TCS) in Tally.ERP9
14.
Tax Deducted at Source (TDS) in Tally.ERP9
15.
Value Added Tax (VAT) in Tally.ERP9
16.
Central Sales Tax (CST) in Tally.ERP9
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
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