Tally ERP 9 consists of Accounting vouchers, inventory vouchers, and order vouchers, which are frequently used in Tally to maintain transfers and records. Inventory vouchers keep a record of goods movement in inventory. Unlike Account vouchers, inventory vouchers make changes to accounts and inventory. Let us know more about inventory vouchers in Tally in this article.
What are Inventory Vouchers In Tally ERP 9?
Inventory Vouchers record all types of inventory transactions within the system. It records the purchase, sale, receipt, issue, and transfer of goods. These inventory vouchers help maintain inventory movements, such as receipt records, movement of goods, and stock transfers. The complete details of inventory transactions can be calculated using inventory vouchers in Tally ERP 9.
Key Takeaways
- Inventory Vouchers keep track of all inventory transactions, receipts, sales, purchases, and transfers of goods.
- Any change will be reflected in both inventory and account vouchers. It can record stock, group, purchase return, sales return, etc.
- Types of Inventory vouchers are purchase orders, outward rejections, inward rejections, sales orders, stock journals, delivery notes, receipt notes, etc.
Key Components of Inventory Vouchers
Some of the major elements of inventory vouchers are mentioned below.
1. Type of Voucher
It indicates the type of inventory transactions recorded in the Tally, such as Receipt Notes, Delivery Notes, Stock Journals, etc.
2. Voucher Number
A unique identification number is allotted to each voucher, which helps with the location of the voucher number.
3. Date
The date on which the transactions are recorded for tracking and finding the vouchers is based on the date.
4. Name of the Party
The complete details of the supplier, customer, and other third parties involved in transactions are mentioned, which are kept in the documentation.
5. Item details
All the item details, like name, code, and quantity, are mentioned alongside the inventory vouchers.
6. Rate and Total Amount
The rate per unit item of the inventory is used to calculate the total amount of the transactions.
Types of Inventory Vouchers
Inventory vouchers are used to record the movement of goods in inventory to ensure nothing goes off the record. Some of the major types of inventory vouchers are mentioned below.
- Receipt Note: It is an internal document produced as proof of the goods received, which is then matched against purchase orders.
- Delivery Note: It is a document used to record the delivery of goods from one location to another to customers, third parties, or any other party.
- Rejection in: This voucher in tally is used to record the products returned after being rejected by customers.
- Rejection Out: This voucher records goods that are rejected by vendors and returned to the supplier.
- Stock journal: A stock journal is a document where all the stock adjustments are entered. It keeps a record of all adjustments to the stocks from one place to another.
- Physical Stock Voucher: It is used to record the quantity of stocks left of a particular stock in the inventory. It captures the actual physical count of stock and then matches it with the recorded inventory.
- Purchase Order: It is used by the company (buyer) and sent to the supplier. This document consists of goods along with the quantity to be purchased by the company.
- Sales Order: A sales order in tally is sent by the seller, where the details of the goods and their quantity, which are fulfilled by the seller, are sent along with the items.
- Job work in order: It is a document used to record the receipt of goods sent out for job work. It consists of the order with details of the goods to be manufactured, quantity, etc. Raw materials for the manufacturing process are supplied by the job seeker.
- Job work out of order: It is used to record the issue of goods sent to the contractor for manufacturing.
Shortcut Keys for Inventory Vouchers
Let us look at some shortcut keys that can be used to avail various types of inventory vouchers in Tally.
|
Types of Inventory Vouchers In Tally |
|
| Delivery Note | Alt + F8 |
| Physical Stock Voucher | Alt + F10 |
| Purchase Order | Alt + F5 |
| Sales Order | Alt + F9 |
| Receipt Note | Alt + F9 |
| Rejection In | Ctrl + F6 |
| Rejection Out | Alt + F6 |
| Stock Journal | Alt + F7 |
Benefits of Inventory Vouchers in Tally
Some of the major benefits of using inventory vouchers in the tally are mentioned below.
- Businesses can maintain real-time updates on their inventory and track inventory movements easily.
- Accuracy in maintaining inventory movements, transactions, and more is essential for financial reporting.
- With the help of Tally ERP 9, a higher level of automation can be achieved in inventory record management.
- It improves decision-making when we have a record of every transaction and movement of goods in inventory stock.
- Maintain stock balance in inventory to avoid situations like overstocks and stockouts.
- With the help of Tally ERP 9, inventory transactions can be handled with greater efficiency.
- Businesses can achieve better control over their stock and ensure smooth inventory operations.
- It makes sure that all the inventory processes are correctly reflected in the financial statements which is important during audits.
Features of Inventory Vouchers in Tally ERP 9
In Tally ERP 9, there are many features that you can choose to use or discard if not needed.
- Integrate accounts and inventory: This option lets you make changes in your inventory and accounts whenever there are any changes in inventory.
- Enable Zero Valued Transactions: This feature in Tally allows you to pass transactions whose amount evaluates to zero.
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Inventory Vouchers in Tally FAQs
Q1. What are inventory vouchers in Tally?
Ans: Inventory Vouchers record all types of inventory transactions within the system. It records the purchase, sale, receipt, issue, and transfer of goods.
Q2. What is a pure inventory voucher in tally?
Ans: Pure inventory vouchers are used to record receipts, issues of goods, or transfers of stocks from one location to another. It performs the same function as accounting vouchers, but specifically for inventory-related transactions.
Q3. What is a sales voucher in Tally?
Ans: Sales voucher in tally is used to record the transactions of the company.
Q4. What are the different types of Inventory vouchers in the tally?
Ans: There are several inventory vouchers used in tally, such as purchase orders, outward rejections, inward rejections, sales orders, stock journals, delivery notes, receipt notes, etc.
