#16-Tally Prime: Accounts with Inventory |Stock Group, Category, Item, Units, Godown | Stock mgt

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What is Inventory?
Inventory refers to the stock of goods and materials used for production and selling. Inventory is treated as a current asset in a business and is recorded in the balance sheet of the company. In a manufacturing company, raw materials, semi-finished goods, and finished goods are treated as inventory. In the service industry, semi- processed information is referred to as inventory.

Inventory management in Tally Prime:
Tally Prime has provided us Inventory Masters to manage our stock efficiently. With its features such as stock summary, stock register, and stock groups, inventory management has become an easier task. In Tally Prime, we can create different stock groups for the type of products we deal in, the unit of measurements to add the number of goods. Inward and outward options are given in the stock register to check the number of items we purchased, sold and how much quantity is left with us

Tally Prime:- Basic to Advance course:-

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