Create Stock Item in Tally Prime Notes for Practice

How to create Stock Group, Unit, Godown and stock item in Tally Prime. Step by Step Notes with practice assignment for Self Study of learners.

Create a New Company for Practice the creation of Stock Group, Godown, Unit and Stock Item

F3  : (Company) > Create Company

Accounting :
Maintain Account	:Yes
Enable bil wise entry	:Yes
Inventory :
Maintain Inventory	:Yes
Integrate Accounts with Inventory	:Yes
Taxation :
Enable GST	:No

Create Stock Group in Tally Prime

Gateway of Tally > Masters > Create > Inventory Masters > Stock Group

Stock Group	Under
System	Primary
Parts	Primary
Mother Board	Parts
CD Rom	Parts
System	Primary
Eight Speed	CD Rom
Ten Speed	CD Roms
System	Primary
Software	Primary
Ace	Software
King	Software
Queen	Software

Create Godown / Location

Gateway of Tally > Masters > Create > Inventory Masters > Godown Main Location exists by default. Create following new Godown

Godown	Under
Onside	Primary
Ware House	Primary

Create Unit

Gateway of Tally > Masters > Create > Inventory Masters > Unit

Symbol	Formal Name
Nos	Number

Type: Simple

Create Stock Item in Tally Prime

Gateway of Tally > Masters > Create > Inventory Masters > Stock item
F12 : Configure > Show More Configuration : Yes
Inventory details : Provide Standard Buying and Selling Rates : (Yes)


During creation of following items use
Units: Nos
Set Standard Rates (Yes) : Provide Rate of respective item from below table.
Opening Balance : Quantity of item
Godown : Onside and Warehouse, as mentioned below (Do’t fill rate here)

Item Name	Under	Standard Cost Rate	Selling Price Rate	Quantity	Onside	Warehouse	Amount
P086 MX	System	750	940	8	7	1	600
P092 MX	System	900	1130	15	2	13	13500
P110 MX	System	1030	1290	12	2	10	12360
MBP 133	Parts	240	320	2	2	0	480
MBP 150	Parts	285	380	6	6	0	1710
MBP 166	Parts	335	450	10	10	0	3350
Gold 8	Eight Speed	45	60	2	2	0	90
Silver 8	Eight Speed	55	70	4	4	0	220
Brown 8	Eight Speed	60	80	4	4	0	240
Gold 10	Ten Speed	75	100	25	25	0	1875
Silver 10	Ten Speed	95	130	20	20	0	1900
Data Base A	Ace	175	250	10	10	0	1750
Speed Short A	Ace	155	220	15	15	0	2325
Data Base K	King	100	150	7	7	0	700
Speed Short K	King	140	200	8	8	0	1120
Data Base Q	Queen	210	306	10	10	0	2100
Speed Short Q	Queen	70	100	4	4	0	280

Go To (Alt+G) : Stock Query : To check individual items
Go To (Alt+G) : Stock Summary > F5 (stock Item wise)