Display inventory reports & statements
Tally prepares the inventory reports based on the vouchers you have entered to date. You can then vary the appearance of reports according to your needs, for example, to make comparisons between different companies, periods of the financial year, and so on.
In each case, when you display a report, you can step-down to the next level of detail by highlighting the item and pressing Enter, and you can keep going until you reach an individual voucher. Similarly, you can step back to higher levels by pressing [Esc]. The special features available for the currently displayed report are indicated on the button bar, and can be selected with a single click of the mouse.
In other words, inventory operates in exactly the same way as accounting regarding displaying, modifying and printing the reports, and so you can use the knowledge gained during the accounting module to good effect with inventory.
Because it is very similar in operation, the function of the buttons on the button bar and the various printing options are not repeated here. Instead, this unit concentrates on highlighting some of the special inventory screens, before giving you the opportunity to practice
Examples on displaying inventory reports
Stock Summary
Gateway of Tally —> Display—> Statements of Inventory —>Stock Summary
Use the buttons to configure this report. E.g. Select F2: Period to change period to, say, 1-1-97 to 31-5-97.
Select Detailed to show list of items under the stock groups.
Auto Column, Half-yearly and No. You should now have three columns showing the stock groups and items at the end of May, June and July.
Position the highlight over Software and press Enter to see the next level of detail, and so on.
Keep pressing [Esc] to return to the Gateway of Tally. Select Stock Summary again.
Select New Column. Tab down the Column Details menu to Method of Stock Valuation and select Std. Price. You should now see two columns displaying the same details, the first at Cost Price (default) and the second at Std. (Sales) Price.
Highlight Systems and press Enter.
Select F1: Detailed to see the location breakdown.
Keep pressing [Esc] to return to the Gateway of Tally.
Example 2 - viewing stock items
Gateway of Tally—> Display —> Inventory Books—>Stock Item.You may go through the Stock Summary as well. Simply place the cursor on the item and press [enter].
Select an item from the List of Items.
Select F12: Configure. Tab down the Configuration menu to Show with Graph? and type y and press Enter. Select Bar and No. You should now see the particulars displayed with a graph of goods inwards and outwards (red for inwards and blue for outwards).
Example 3 - making a stock query
Stock query – the one place for all information on an item
Gateway of Tally —> Display—> Statements of Inventory—> Stock Query.
Select an item, from the List of Items. Notice how Tally uses the Stock Category to display Items of the same Category. You can offer alternative products immediately. The locations at which you have stocks are also given, which is invaluable for your logistics planning.
Select F4:Item to switch to another item to display. Notice the stocks at different locations.
You should attempt to explore the powerful display features of Tally. You have seen some inventory reports and that how they can be modified. Now use that knowledge to try similar and new things on the other reports.
For example, you might like to:
Go to the Group Summary, select Software and then use F12: Range to limit the display to "Stock Groups having Closing Value greater than 3000".
Explore the Locations report. Try selecting On-site, clicking on F1: Detailed, changing the period to 1-5-97 to 31-7-97, and then using Auto Column to bring up the month-by-month figures.
Bring up the initial display of each report and use Enter & [Esc] to work your way down through the levels of detail & back up again.
Analysis of Inventory Movements
The Analysis of Inventory Movements are done for Accounted Transactions only. This is in contrast to the details given through the Stock Summaries and other statements, where 'Goods Received but Bills not Received' and 'Goods Dispatched but Bills not Raised' are also considered. This difference may lead to slightly different figures and values in the Analysis statements. The purpose of these Statements are for comparative study, and they should NOT be construed as authentic Accounts or Inventory Statements.
Gateway of Tally —> Display-Inventory Books—>Movement Analysis
You can analyse stock movements by stock groups, or categories or even by financial group or ledger.
Movement Analysis of a selected stock group brings up the Total Inward and Outward movement of all the items in the selected Stock Group. The Quantities shown are 'Actual Quantities' of movement (which in some cases, may be different from the 'Billed Qty' in the transactions.) The 'Inward' detail shows the Effective Rate or Final Landed Cost of the materials, after considering all overhead costs (see 'Valuation of Purchases'). In case the Effective Rate is different from the basic Invoice rate of the materials, it is shown in 'Bold' - to highlight a possible candidate for further study. The 'Outward' detail shows the Basic Invoice Rate and Value of goods sold/transferred out.
The next level of information (press Enter on the stock Item), brings up the Party-wise/Transfer-wise detail of Movements In and Out. The Inward details show the Basic Invoice Rate as well as the Effective Rate.
This is a great comparative report to view the effect of Purchase costs from different suppliers. For example, Supplier A may have a lower Basic Invoice Rate as compared to Supplier B, but the Effective Rate may be higher – (perhaps due to differences in Taxes, Packing Costs, Freight Costs etc). Similarly, in context where a material is both manufactured in-house, as well as purchased – the difference in Purchase Costs and In-house Costs can be compared. Lastly, by selecting multiple columns for different periods, you would get to see the changes in Effective Rate for your purchases. The next level of information (press Enter on the Party Name or Stock Journal Name), gives the transaction level detail of information. Here, the Date of goods received/sold, the Quantities, Basic Rates, Addl. Costs, and Effective Rate for each transaction may be viewed. Pressing 'Enter' expands into the Date, Type and Number of the Vouchers which have contributed to this transaction.
The default screen shows the Addl.Costs (if any), put together in a single column. To view the 'spread' of costs, press F12: Configure, and select to view 'A;; Addl. Costs'. This brings up the bifurcation of all 'Additional Costs' entered (see 'Valuation of Purchases').
Ledger Analysis is 'similar' to Movement Analysis, except for bringing up the movements of the items for the selected Ledger (Party). Thus, you get an 'analysis' of all purchases made from a supplier, or all items sold to a customer. The next level of information brings up the transaction level detail.
Transfer Analysis gives the movement details of each type of 'Stock Journal'. This can be used powerfully by following a simple discipline of using different Stock Journal types for each 'nature' of transaction. For example, 'Item A Prod', 'Item B Prod' can be used for the production of Items A and B respectively. In this scenario, the report then represents the total of Item A produced, as well as the 'Raw Materials' used for its production, with overhead costs (as entered). This becomes a very useful costing and waste analysis tool. In non-manufacturing segments, but with Multiple Godowns, this report becomes a quick check to verify that all transfer entries have been entered correctly – since the Total Movement In and Out must match.
Aged Stock Analysis (Ageing Analysis)
A very important function of Working Capital management is monitoring stocks. Money locked up in stocks can adversely affect the liquidity of a company and every company strives or should strive to reduce stock levels to the optimum. Every business (except perhaps the liquor and antiques dealers) would prefer to dispose of older stocks as they might deteriorate with time, go out of fashion, or simply get forgotten. Tally's aged stock analysis or Stock ageing enables you to know the age of stocks in hand according to when they were received and the purchase value.
How to view Ageing Analysis
Gateway of Tally -> Display -> Inventory Books -> Ageing Analysis
Select the Group of Stock Items to be analysed
Ageing Analysis report produces a default ageing period of <45>180 days. You can change the setting by using F6. The default report also gives stock values based on Actual Purchase. Use F8 to view the report without values as has been done above.
Since Negative Stocks cannot be aged, they are shown in a separate column.
Scenario Management
Scenario management is a management tool that enables different views of your information, both accounts and inventory related, by selectively including certain types of vouchers without affecting the base data. This is useful in reports with provisional figures without actually putting the entries through the main books. It is also useful for forecasting by entering forecast figures in provisional vouchers and including them to get forecasted figures.
The vouchers that are used in Scenario Management are:
Optional Vouchers
Memorandum Vouchers
Reversing Journals
In this section we will dwell on the way we can use these vouchers in Reports. How to enter them have been dealt with in the Voucher Entry chapter.
You can create a number of scenarios each including and/or excluding one or more types of these voucher entries. Hence, you may have one scenario that is used for reporting monthly figures in which you have to report depreciation provided for the month as well as account for all accruals and outgoings. Obviously, you do not want to put through your books journal entries for this purely temporary reporting. Of course the entries are available for reference in separate registers. You would decide to include Reversing Journals for Provisional monthly reporting.
Create a Scenario
Ensure that you have activated the option Use Reversing Journals & Optional Vouchers in F11:Company Features.
Now do the following:
Gateway of Tally ->Accounts Info->Scenario->Create
Name
Give a suitable name to the scenario. In this case, we give Provisional.
Include Actuals
Yes, if you want the report to
Exclude Forex Gains/Losses Calculations
Yes, if you do not want to the Unadjusted Forex Gain/Loss element to appear in the scenario. No if you want it to appear.
Exclude Inventory Tracking Calculations
Yes, if you do not want to the Sales/Purchase Bills Pending element to appear in the scenario. No if you want it to appear.
Include
Include from the list of vouchers, the type of vouchers that you want to affect this scenario. Notice that it picks up the Voucher Types created for this company. Only provisional vouchers are permitted for selection Normal vouchers that are marked Optional are available but not those not marked as such. They would affect the books of account.
Exclude
Include from the list of vouchers already included under Include above, the type of vouchers that you DO NOT want to affect this scenario. You would use this typically later in Alter mode and hence is discussed under Alter or Display Scenario Information.
Accept to create this scenario
Alter or Display Scenario Information
Gateway of Tally ->Accounts Info->Scenario->Alter.
Select the scenario to alter from the List of Scenarios
The information given while creating the scenario is brought up and you can amend any selection.
Exclude
You would use the Alter mode when you do not require a selected included voucher anymore to affect the scenario. It is easier for you put that in the Exclude List than to remove it from the Include List.
Tally prepares the inventory reports based on the vouchers you have entered to date. You can then vary the appearance of reports according to your needs, for example, to make comparisons between different companies, periods of the financial year, and so on.
In each case, when you display a report, you can step-down to the next level of detail by highlighting the item and pressing Enter, and you can keep going until you reach an individual voucher. Similarly, you can step back to higher levels by pressing [Esc]. The special features available for the currently displayed report are indicated on the button bar, and can be selected with a single click of the mouse.
In other words, inventory operates in exactly the same way as accounting regarding displaying, modifying and printing the reports, and so you can use the knowledge gained during the accounting module to good effect with inventory.
Because it is very similar in operation, the function of the buttons on the button bar and the various printing options are not repeated here. Instead, this unit concentrates on highlighting some of the special inventory screens, before giving you the opportunity to practice
Examples on displaying inventory reports
Stock Summary
Gateway of Tally —> Display—> Statements of Inventory —>Stock Summary
Use the buttons to configure this report. E.g. Select F2: Period to change period to, say, 1-1-97 to 31-5-97.
Select Detailed to show list of items under the stock groups.
Auto Column, Half-yearly and No. You should now have three columns showing the stock groups and items at the end of May, June and July.
Position the highlight over Software and press Enter to see the next level of detail, and so on.
Keep pressing [Esc] to return to the Gateway of Tally. Select Stock Summary again.
Select New Column. Tab down the Column Details menu to Method of Stock Valuation and select Std. Price. You should now see two columns displaying the same details, the first at Cost Price (default) and the second at Std. (Sales) Price.
Highlight Systems and press Enter.
Select F1: Detailed to see the location breakdown.
Keep pressing [Esc] to return to the Gateway of Tally.
Example 2 - viewing stock items
Gateway of Tally—> Display —> Inventory Books—>Stock Item.You may go through the Stock Summary as well. Simply place the cursor on the item and press [enter].
Select an item from the List of Items.
Select F12: Configure. Tab down the Configuration menu to Show with Graph? and type y and press Enter. Select Bar and No. You should now see the particulars displayed with a graph of goods inwards and outwards (red for inwards and blue for outwards).
Example 3 - making a stock query
Stock query – the one place for all information on an item
Gateway of Tally —> Display—> Statements of Inventory—> Stock Query.
Select an item, from the List of Items. Notice how Tally uses the Stock Category to display Items of the same Category. You can offer alternative products immediately. The locations at which you have stocks are also given, which is invaluable for your logistics planning.
Select F4:Item to switch to another item to display. Notice the stocks at different locations.
You should attempt to explore the powerful display features of Tally. You have seen some inventory reports and that how they can be modified. Now use that knowledge to try similar and new things on the other reports.
For example, you might like to:
Go to the Group Summary, select Software and then use F12: Range to limit the display to "Stock Groups having Closing Value greater than 3000".
Explore the Locations report. Try selecting On-site, clicking on F1: Detailed, changing the period to 1-5-97 to 31-7-97, and then using Auto Column to bring up the month-by-month figures.
Bring up the initial display of each report and use Enter & [Esc] to work your way down through the levels of detail & back up again.
Analysis of Inventory Movements
The Analysis of Inventory Movements are done for Accounted Transactions only. This is in contrast to the details given through the Stock Summaries and other statements, where 'Goods Received but Bills not Received' and 'Goods Dispatched but Bills not Raised' are also considered. This difference may lead to slightly different figures and values in the Analysis statements. The purpose of these Statements are for comparative study, and they should NOT be construed as authentic Accounts or Inventory Statements.
Gateway of Tally —> Display-Inventory Books—>Movement Analysis
You can analyse stock movements by stock groups, or categories or even by financial group or ledger.
Movement Analysis of a selected stock group brings up the Total Inward and Outward movement of all the items in the selected Stock Group. The Quantities shown are 'Actual Quantities' of movement (which in some cases, may be different from the 'Billed Qty' in the transactions.) The 'Inward' detail shows the Effective Rate or Final Landed Cost of the materials, after considering all overhead costs (see 'Valuation of Purchases'). In case the Effective Rate is different from the basic Invoice rate of the materials, it is shown in 'Bold' - to highlight a possible candidate for further study. The 'Outward' detail shows the Basic Invoice Rate and Value of goods sold/transferred out.
The next level of information (press Enter on the stock Item), brings up the Party-wise/Transfer-wise detail of Movements In and Out. The Inward details show the Basic Invoice Rate as well as the Effective Rate.
This is a great comparative report to view the effect of Purchase costs from different suppliers. For example, Supplier A may have a lower Basic Invoice Rate as compared to Supplier B, but the Effective Rate may be higher – (perhaps due to differences in Taxes, Packing Costs, Freight Costs etc). Similarly, in context where a material is both manufactured in-house, as well as purchased – the difference in Purchase Costs and In-house Costs can be compared. Lastly, by selecting multiple columns for different periods, you would get to see the changes in Effective Rate for your purchases. The next level of information (press Enter on the Party Name or Stock Journal Name), gives the transaction level detail of information. Here, the Date of goods received/sold, the Quantities, Basic Rates, Addl. Costs, and Effective Rate for each transaction may be viewed. Pressing 'Enter' expands into the Date, Type and Number of the Vouchers which have contributed to this transaction.
The default screen shows the Addl.Costs (if any), put together in a single column. To view the 'spread' of costs, press F12: Configure, and select to view 'A;; Addl. Costs'. This brings up the bifurcation of all 'Additional Costs' entered (see 'Valuation of Purchases').
Ledger Analysis is 'similar' to Movement Analysis, except for bringing up the movements of the items for the selected Ledger (Party). Thus, you get an 'analysis' of all purchases made from a supplier, or all items sold to a customer. The next level of information brings up the transaction level detail.
Transfer Analysis gives the movement details of each type of 'Stock Journal'. This can be used powerfully by following a simple discipline of using different Stock Journal types for each 'nature' of transaction. For example, 'Item A Prod', 'Item B Prod' can be used for the production of Items A and B respectively. In this scenario, the report then represents the total of Item A produced, as well as the 'Raw Materials' used for its production, with overhead costs (as entered). This becomes a very useful costing and waste analysis tool. In non-manufacturing segments, but with Multiple Godowns, this report becomes a quick check to verify that all transfer entries have been entered correctly – since the Total Movement In and Out must match.
Aged Stock Analysis (Ageing Analysis)
A very important function of Working Capital management is monitoring stocks. Money locked up in stocks can adversely affect the liquidity of a company and every company strives or should strive to reduce stock levels to the optimum. Every business (except perhaps the liquor and antiques dealers) would prefer to dispose of older stocks as they might deteriorate with time, go out of fashion, or simply get forgotten. Tally's aged stock analysis or Stock ageing enables you to know the age of stocks in hand according to when they were received and the purchase value.
How to view Ageing Analysis
Gateway of Tally -> Display -> Inventory Books -> Ageing Analysis
Select the Group of Stock Items to be analysed
Ageing Analysis report produces a default ageing period of <45>180 days. You can change the setting by using F6. The default report also gives stock values based on Actual Purchase. Use F8 to view the report without values as has been done above.
Since Negative Stocks cannot be aged, they are shown in a separate column.
Scenario Management
Scenario management is a management tool that enables different views of your information, both accounts and inventory related, by selectively including certain types of vouchers without affecting the base data. This is useful in reports with provisional figures without actually putting the entries through the main books. It is also useful for forecasting by entering forecast figures in provisional vouchers and including them to get forecasted figures.
The vouchers that are used in Scenario Management are:
Optional Vouchers
Memorandum Vouchers
Reversing Journals
In this section we will dwell on the way we can use these vouchers in Reports. How to enter them have been dealt with in the Voucher Entry chapter.
You can create a number of scenarios each including and/or excluding one or more types of these voucher entries. Hence, you may have one scenario that is used for reporting monthly figures in which you have to report depreciation provided for the month as well as account for all accruals and outgoings. Obviously, you do not want to put through your books journal entries for this purely temporary reporting. Of course the entries are available for reference in separate registers. You would decide to include Reversing Journals for Provisional monthly reporting.
Create a Scenario
Ensure that you have activated the option Use Reversing Journals & Optional Vouchers in F11:Company Features.
Now do the following:
Gateway of Tally ->Accounts Info->Scenario->Create
Name
Give a suitable name to the scenario. In this case, we give Provisional.
Include Actuals
Yes, if you want the report to
Exclude Forex Gains/Losses Calculations
Yes, if you do not want to the Unadjusted Forex Gain/Loss element to appear in the scenario. No if you want it to appear.
Exclude Inventory Tracking Calculations
Yes, if you do not want to the Sales/Purchase Bills Pending element to appear in the scenario. No if you want it to appear.
Include
Include from the list of vouchers, the type of vouchers that you want to affect this scenario. Notice that it picks up the Voucher Types created for this company. Only provisional vouchers are permitted for selection Normal vouchers that are marked Optional are available but not those not marked as such. They would affect the books of account.
Exclude
Include from the list of vouchers already included under Include above, the type of vouchers that you DO NOT want to affect this scenario. You would use this typically later in Alter mode and hence is discussed under Alter or Display Scenario Information.
Accept to create this scenario
Alter or Display Scenario Information
Gateway of Tally ->Accounts Info->Scenario->Alter.
Select the scenario to alter from the List of Scenarios
The information given while creating the scenario is brought up and you can amend any selection.
Exclude
You would use the Alter mode when you do not require a selected included voucher anymore to affect the scenario. It is easier for you put that in the Exclude List than to remove it from the Include List.
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