Inventory Management

Inventory Management

 

Inventory management

Inventory management is the process of managing all the inventories and stock. As a supply chain management component, inventory management includes control and inspection of ordered stock, storage of inventories and control of the quantity of products sold.

Inventory Management is easy to understand. Inventory management is to do the right inventory at the right place, at the right time and at the right cost. However, apply the best inventory management techniques to get the best results.

It is very important to stock the right amount of inventory. If you order too little, your customers will start to look elsewhere.

If you place too many orders, you have the chance to face extra stocks where you may have to sell at custom clearance prices or you may be at risk of becoming obsolete.

At Tally.ERP9, you’ll appreciate the Inventory skills that appeal to manufacturers, distributors, wholesalers, and traders.

Point of Sale records all kinds of inventory transaction services, managing related expenses, cash sales, credit sales, and the stock of all kinds of measurement units, such as managing the same stock as an alternative one.

For e.g: 1 Dozen = 12 pieces or you can customize as per your requirement. For e.g: 6 pieces = 1 box.

Any business, like manufacturing, Hotel, Hospital, trading, sale and service of products, that deals with stock has found immense value in inventory management.

Staying on top of inventory will provide better control, increases revenue, customer satisfaction, and efficiency of the organization.

In Tally ERP 9 Inventory management feature helps you to track your orders to fulfill and helps you to see through your current stock/closing stock, evaluate your orders, both sales and purchases.

It tells you exactly what your stock requirement is. Efficiently protect the shelf space by giving them the priority they deserve on the shelf.

Features:

  • Stock Management/ Stock summary
  • Stock Journal/ Manufacturing Journal
  • Physical Stock Entry/physical stock posting
  • Multiple Stock Valuations/ Different Stock Valuation.
  • Inventory Report

Sales Management | Purchase Management

Purchase Management

Managing efficiently translate into saving of costs directly and indirectly.

Tally ERP 9 helps you in cost-cutting directly by availing best prices and discounts, and indirectly by gaining the better visibility a business owner needs into the company’s funds spent on different purchases.

A good purchase management system guarantees good vendor relationship and better supply chain management.

Purchase management starts with an indent/requisition to procure goods, followed by receiving and comparing quotes from vendors and finalizing the best-suited vendor to purchase from.

Some organizations keep track of the entire procurement cycle, starting from the purchase order (PO) to the goods receipt (GRN), whereas some businesses choose to record the purchase transaction directly. You can change your preferences and Tally ERP 9 dynamically adapts and works smoothly.

Tally ERP 9 caters to all your procurement needs with an effective purchase cycle. Purchase Order (PO), Goods Receipt (GRN), rejections and returns (Debit note), advances, debits, and payments – Tally’s simplicity makes procurement process and purchase seem easy and manageable.

Features:                                                              

  • Purchase Transaction Posting
  • Purchase Order Management
  • Receipt Note (GRN)
  • Purchase Return or Debit Note
  • Bills Payable and Payment Management

Sales Management

Be the simplest of sales transactions that only include a sales invoice or a comprehensive sales cycle that includes a sales order, delivery note, rejection, sales invoice, credit note, and receipt.

Tally ERP 9 meets all your needs. Tally ERP dynamically adapts to your changing business needs and gradually expands capabilities according to your business requirement.

Go ahead and reorder your sales and purchasing cycles, and you’ll be amazed at the flexibility you experience.

With sales being the vital part of your business, sales operations grow directly and affect profitability.

Tally ERP 9 helps you monitor and optimize your sales processes with exceptional capabilities such as billing, sales order processing, sales returns, price list, discount management and credit management.

Features:

  • Sales Invoicing or Billing
  • Sales Order Process
  • Goods Delivery Note
  • Sales Return or Credit Note
  • Price List and Discount Management
  • Bills Receivables Management and Bill Settlement

Ready Business Modules

Are you looking for a specific characteristic in your current version of the Tally Software?

Do you think that your tally requires some extra function performing capacity as per your business requirement?

If you associate yourself with the above statements, we have something for you.

Ready To Use Tally Modules

Manal Technology brings you a set of customized ready to use Tally.ERP 9 modules. Using which you can extend the functionality of your Tally software accordingly and these modules are completely able to cover the end to end need of the businesses.

The advantage of such modules is the enormous amount of time and cost savings because most of the modules needed are readily available.

The gap can always be filled with further customization of these modules, so that all requirements of the customer are met.

The modules also have the advantage of being continuously upgraded to new versions and parallel to the development of its main product, Tally.ERP9 and growth in industry.

Manal Technology provides a business ready key modules for your organization through which you can track the Purchase Order, Set Advanced Credit Limit, Move Logo in Invoice format, Tally Calendar, Use Gridlines in various reports, Change Colors, System History, Bar Code printing for inventory, Invoice printing settings, Annual Maintenance Contract (AMC) Add On and use other modules that are compatible with all Tally versions.

Manufacturing & Job Work

Production enterprises use machines, tools and labour to produce finished goods from raw materials.

Sometimes these finished products become components used in the production of more complex products such as home appliances or automobiles.

Businesses in manufacturing can greatly benefit from the advanced features of Tally.ERP 9:

Stock Item Classification:

The user can classify stock items under the typical three broad classifications (Stock Groups) such as Raw Material, Ongoing Work and Finished Products.

All materials used to produce a particular item are called raw materials. A product whose shape has changed but has not reached the finished stage is called semi-finished product and grouped under ‘Ongoing Work’. Any product that has been completely transformed in nature, finalized and ready for sale is labeled as Finished Product.

The user can create the ledgers under “Stock in Hand”. When the ‘Integrate Accounts in Inventory’ option is disabled, Tally.ERP 9 automatically displays the total closing balances of all ledgers grouped under Stock in Hand based on the closing balance that the user entered.

Material List with automatic stock setting:

In many industries, especially in assembly units, more than one component is used in the production of finished products.

The Bill of Materials in Tally.ERP 9 provides a temporary solution to the difficulty of issuing stock each time a product is manufactured.

To create a Bill of Material, you need to create a new product and specify a component that goes in production.

Now, by using the production log, specify the amount of items to be generated. Tally.ERP 9 immediately selects all required items and automatically reduces stock.

Additional cost of production with significant value and percentage:

When a product is manufactured, most of the time indirect costs come into play.

These are labor, electricity, accessories and so on. It may contain and be added to the cost of the product.

In Tally.ERP 9, these costs can be added to the product when entering the Stock Journal or Production Journal.

The user can determine the additional cost as a percentage of the component cost, or even specify a conceptual value.

When converted from raw to finished product, stock journey is unique for every industry or sector. Every business requirements are unique and industry-specific.

Tally.ERP 9 is one stop solution for manufacturers who want to accelerate their production processes.

Reduce the complexity of inventory management, track inventory and reduce costs. Tally ERP 9 is a ‘on demand’ solution for your unique needs.

Features:

  1. Managing the Production Inventory:
  2. Bill of Materials
  3. Production Journal
  4. Job Work
  5. Work Order Processing
  6. Job Work Reports

MIS Reporting

Management Information System (MIS) is composed of hardware and software which acts as the backbone of the organization to complete all the operations.

To be successful in your business Cash flow, Fund flow management, Speed analysis, CEO’s Panel and so on. Our technical experts and developers will help you by providing Tally software according to your business needs which helps to collect and analyze data and to create MIS reports.

 Different types of MIS Reports available in Tally ERP 9

Accounting Reports: These are the reports which provide information on the financial position, operational performance and economic activities of the business.

Financial Reports: To determine the financial status of an organization’s shareholders, creditors and government units.

Inventory Reports: These reports help you in managing the Inventory accurately and effectively by getting the actual status of stock items.

Management Control Reports: With the help of these reports, one can manage budgets, cost centre reports, scenario reports etc. for controlling internal activities of the business.

Some of the Ready MIS Reports you can get in Tally ERP are as below:

Bills Receivables: A bill of exchange can be either bills receivable or bills payable. When a drawee accepts a bill and sends it back to the drawer, the invoice becomes bills receivable.

Therefore, it becomes an asset to him. On the other hand, if money is paid on top of the invoice, it becomes a bill payable to the drawer, which is a responsibility for it. The drawer can use the bill in any of the following ways:

  1. Retain the bill till the date of maturity and collect the money from the drawee.
  2. Endorse the bill to his creditor.
  3. Discount the bill with the banker.
  4. Send the bill to the banker for collection.

Bills payable: The bill to be paid represents the debt on a future date. The bills payable report in Tally.ERP 9 shows all outstanding debts / payables over a period of time.

Cost Centre Reports: Cost Center Reports are basically performance reports that provide a different perspective to transactions.

Cash Flow Statement: Cash Flow is the cash inflow and outflow during an accounting period.

The cash flow table focuses on transactions that have a direct impact on cash. It relates to the cash inflow and outflow between two Balance Sheet dates.

That is, it explains the changes in the cash position between the two periods. Here, the term cash refers to cash and bank balances.

Cash flow statements can be used as receipt and payment table. This is especially useful for Non-Profit Organizations whose receipt and payment notifications must be created.

Fund Flow Statement: A Fund Flow statement is a report describing the movement of funds in an accounting period. This explanation consists of two parts: Funding sources and Application of Funds.

The difference between the two, shows the net change in working capital during the period. In this statement only transactions affecting the firm’s net working capital are included.

The Fund Flow statement is in addition to two basic financial statements. Explains the sources from which the supplementary fund is derived and where these funds are used when completing the position statement.

Operations that increase working capital is a fund source and transactions that decrease working capital are fund applications.

Stock Market Analysis: The Stock Market Analysis Report gives details of the stock movement of the supplier wise, buyer wise and consumer goods. A comparison of the purchase cost for the product between suppliers and the sales value comparison between buyers can be displayed here.

Stock Market Query: The Stock Query report provides complete information on a particular stock product such as Sales Price, Cost Method and Market Valuation Method etc.

Godown Report: The Godown Summary statement shows the Stock Summary for different Godown Locations. The Main Stock Summary shows the stock position of the entire company on a given date, while the Godown Summary is the stock statement in hand on particular date.

As in all Tally statements, it is updated for each transaction so that it provides the current stock position for any godown at any time.

Full Stock Summary: Stock Summary report is made according to the closing balance by default. However, you can sort stock items by “In or Out” columns in the summary report.

Tax / VAT Payable Report: All tax payment vouchers are recorded for payment of VAT and other liabilities are displayed in the Tax Payment Settlement report. For payment, bank and approval information can be obtained from this report.

Stock Cost Estimation: Cost Estimate is an expression of the value of the cost incurred in manufacturing finished products. To view the cost estimate for a specific finished product, select the relevant Stock Group to show the consumption details and costs for each of the inventory items that fall under the Group.

The cost estimate helps to fix the final product’s selling price and provide a certain margin for profits after the appropriate overhead costs are loaded. It also helps to determine the need to produce cost-reduction techniques in the Inventory Reports, to draw conclusions on the cost of production and to improve the production process.

If you are looking for any of the customized reports you can contact us: 00966-583117703 or have an online chat with one of our technical expert from our website.

×

Hello!

Click to chat with one of our representatives on WhatsApp or send us an email to [email protected]

× How can I help you?