Stock Consumption Entry and its effects on closing Stock in Tally ERP9
Published at : 16 Dec 2020
In today’s business, where manufacturers, buyers or resellers keep multiple stock items belonging to different parties, maintaining stock items and carrying out stock evaluation can become a challenge. Many times a manufacturer has to send stock items for Job Work or receive third party’s stocks for servicing and in such situation generating accurate stock report can become more complicated
A Physical Stock Voucher is used to record the actual stock of a particular stock item. In the inventory books, the actual balance of stock in hand as on the date of voucher entry is shown and the difference in stock is automatically added as inwards or outwards as the case may be. The cause of discrepancy can be recorded in the narration field of the physical stock journal voucher.
This register summarises the stock adjustments made during the reporting period. An analysis of the stock recorded in the register gives us an insight into the causes of discrepancies to ensure that timely action is taken.The Stock Summary in Tally.ERP 9 is a report that shows up-to-date information about the quantity, rate, closing value and location of stocks
This video is about learning above details in more significant way.
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