A Guide to Godown Maintenance in Tally Prime for Seamless Inventory Control

GODOWNS

What is Godowns?

A godown is a place where stock items are stored.
You can specify where the stock items are kept.
You can obtain stock reports for each godown and account for the movement of stock between locations/godowns.

Vouchers

Receipt Note: A Receipt Note is an internal document produced as proof of goods received after inspecting delivery, to process and match against your purchase orders.
Purchase: A Purchase Voucher is a document or electronic record used to record the details of a purchase transaction. It is a formal record that documents the purchase of goods or services from a supplier or vendor.
Delivery Note: A delivery challan is usually issued by a seller to the buyer when making the delivery of goods.
Sales: A transaction between the buyer and the seller in which the seller sells intangible or tangible goods, assets, or services against money is known as a sale.
Rejection Outward: A Rejection Outward Note is a document used to record the return of goods by a customer or buyer to the supplier or seller due to rejection of the goods.
Debit Note: A debit note is a document a seller uses to remind the purchaser of current debt obligations, or a document produced by a purchaser when returning goods purchased on loan.
Rejection Inward: Rejection Inward refers to a transaction that records the return of goods or items to your business from a customer or another party due to quality issues, damages, or any other reasons for rejection.
Credit Note: A credit note, also known as a credit memo, is a commercial document issued by the seller and sent to the buyer when there is a reduction in the amount payable to the seller.

Excise Sum

The Following Would Be Recording In Journal Using Double Entry System. Do The Posting Process From Journal Entries And Prepare The Trial Balance, Trading A/C, Profit & Loss A/C And Balance Sheet With Inventory With Godown Maintain In The Books Of M/S. DEVA PVT LTD For The Following Year 2023 To 2024

Particular	DR	CR
Capital		3,00,000
Bills payable		10,000
Cash	1,00,000
Furniture	15,000
Loan from Ravi		25,000
Buildings	35,000
Bank OCC		55,000
Fixed Deposit	75,000
Good will	20,000
Salary due		45,000
Machinery	14,700
Provision for bad debit		35,000
Reserve & surplus		50,000

GODOWN NAME:

NAME : CODISIA
UNDER : PRIMARY
ADDRESS : CHENNAI

NAME : INFOSYS
UNDER : PRIMARY
ADDRESS : BANGALORE

STOCK IN HAND:

UPS 10nos Rs.8000 (C-6, I-4)
Car Tyre 7nos Rs.3000 (C-5, I-2)
Car Battery 15nos Rs.5500 (C-5, I-10)
Car Woofer 32nos Rs.2400 (C-12, I-20)

TRANSACTION DURING THE PERIOD:

Apr 01 Receipt Note Received M/S NATHAN TRADERS

Car Spare Parts: 50 Packs Rs.1000 (C-15, I-35)
Car Wheel: 20 Packs Rs.15000 (C-8, I-12)

Apr 04 Purchased Invoice Made From Above Receipt Note MR. NATHAN TRADERS Bill No: 715 Due Days: 30

Apr 10 Goods Rejection Outward To MR. NATHAN TRADERS

Car Spare Parts: 10 Packs Rs.1000 (C-5, I-5)
Car Wheel: 7 Packs Rs.15000 (C-2, I-5)

Apr 15 Debit Note Issued Bill No: 715

May 01 Delivery Note Issued To M/S.MARQUE PVT LTD

UPS: 7 Nos Rs.13000 (C-3, I-4)
Car Battery: 7 Nos Rs.7500 (C-3, I-4)
Car Spare Parts: 30 Packs Rs.1800 (C-10, I-20)
Car Woofer: 20 Nos Rs.1000 (C-10, I-10)

May 06 Sales Invoice Made For Above Delivery Note Vide Bill No:130 Due Days:15

May 10 Paid Inward Charges Rs.5000

June 06 M/S MARQUE PVT LTD Balance Received Bill No:130

June 16 Paid Wages Rs.5000

June 20 Amount Paid To MR. NATHAN TRADERS Bill No: 715 Discount Received Rs:15000

Answer

Particular	Amount
Opening Balance	520,000
Gross Profit	35,000
Net Profit	50,000
Balance Sheet	570,000
Closing Stock	322,800

Create a New Company

Create a New Company

Go to the Gateway of Tally.
Select "Create Company" or "Alt+K" (exact wording may vary based on your version).

Enter Company Information:

Name: M/S. DEVA PVT LTD
Address: [Enter the company's address]
Mailing Name: [You can use the same as the company name]
Country and State: [Select the appropriate country and state]
PIN Code: [Enter the postal code]
Telephone: [Enter the contact number]
Email: [Enter the email address]
Books Beginning From: Set the financial year to 2023-2024.

Configure Company Features:

Set up other company features based on your business requirements. These include features related to accounts, inventory, taxation, etc.

Save the Company:

Press Enter to save the company details.

Opening Balance

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Accounts Info:

Select "Accounts Masters" from the main menu.

Create Ledgers:

Choose "Ledgers" under "Accounts Masters."

Create Capital Ledger:

Create a ledger for "Capital" with an opening balance of Rs. 3,00,000.

Name: Capital
Group: Capital Account
Opening Balance: Dr 3,00,000

Create Bills Payable Ledger:

Create a ledger for "Bills payable" with an opening balance of Rs. 10,000.

Name: Bills payable
Group: Current Liabilities
Opening Balance: Cr 10,000

Create Cash Ledger:

Create a ledger for "Cash" with an opening balance of Rs. 1,00,000.

Name: Cash
Group: Cash-in-hand
Opening Balance: Dr 1,00,000

Create Furniture Ledger:

Create a ledger for "Furniture" with an opening balance of Rs. 15,000.

Name: Furniture
Group: Fixed Assets
Opening Balance: Dr 15,000

Create Loan from Ravi Ledger:

Create a ledger for "Loan from Ravi" with an opening balance of Rs. 25,000.

Name: Loan from Ravi
Group: Loans (Liabilities)
Opening Balance: Cr 25,000

Create Buildings Ledger:

Create a ledger for "Buildings" with an opening balance of Rs. 35,000.

Name: Buildings
Group: Fixed Assets
Opening Balance: Dr 35,000

Create Bank OCC Ledger:

Create a ledger for "Bank OCC" with an opening balance of Rs. 55,000.

Name: Bank OCC
Group: Bank Accounts
Opening Balance: Cr 55,000

Create Fixed Deposit Ledger:

Create a ledger for "Fixed Deposit" with an opening balance of Rs. 75,000.

Name: Fixed Deposit
Group: Fixed Assets
Opening Balance: Dr 75,000

Create Goodwill Ledger:

Create a ledger for "Goodwill" with an opening balance of Rs. 20,000.

Name: Goodwill
Group: Intangible Assets
Opening Balance: Dr 20,000

Create Salary Due Ledger:

Create a ledger for "Salary Due" with an opening balance of Rs. 45,000.

Name: Salary Due
Group: Current Liabilities
Opening Balance: Cr 45,000

Create Machinery Ledger:

Create a ledger for "Machinery" with an opening balance of Rs. 14,700.

Name: Machinery
Group: Fixed Assets
Opening Balance: Dr 14,700

Create Provision for Bad Debit Ledger:

Create a ledger for "Provision for Bad Debit" with an opening balance of Rs. 35,000.

Name: Provision for Bad Debit
Group: Indirect Expenses
Opening Balance: Cr 35,000

Create Reserve & Surplus Ledger:

Create a ledger for "Reserve & Surplus" with an opening balance of Rs. 50,000.

Name: Reserve & Surplus
Group: Reserves & Surplus
Opening Balance: Cr 50,000

Save the Ledgers:

Save each ledger entry by pressing Enter after entering the details.

Select Chart of Accounts:

Under the "Gateway of tally" menu, choose "Chart of Accounts" and then select "Groups" or "Ledgers."

GODOWN NAME:

NAME : CODISIA
UNDER : PRIMARY
ADDRESS : CHENNAI

NAME : INFOSYS
UNDER : PRIMARY
ADDRESS : BANGALORE

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Inventory Info:

Select "Inventory Masters" from the main menu.

Create Godowns:

Choose "Inventory Masters" under "Godowns."

Create CODISIA Godown:

Create a Godown named "CODISIA" with the following details:
Name: CODISIA
Under: PRIMARY
Address: CHENNAI

Create INFOSYS Godown:

Create another Godown named "INFOSYS" with the following details:
Name: INFOSYS
Under: PRIMARY
Address: BANGALORE

Save the Godowns:

Save each Godown entry by pressing Enter after entering the details.

Stock Group

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Inventory Info:

Select "Inventory Masters" from the main menu.

Create Stock Group:

Choose "Inventory Masters" under "Stock Groups."

Create STOCK IN HAND Group:

Create a new stock group named "STOCK IN HAND" with the following details:

Name: STOCK IN HAND
Under: Primary (or select an appropriate parent group if needed)

Save the Stock Group:

Save the stock group entry by pressing Enter after entering the details.

Units

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Inventory Info:

Select "Inventory Masters" from the main menu.

Create Units of Measurement:

Under "Inventory Masters," choose "Units of Measure."

Create a New Unit:

Select "Create" (or use Alt + C as a shortcut) to create a new unit.

Enter Unit Details:

Enter the following details for the unit:

Symbol: nos
Formal Name: Numbers
Number of Decimal Places: Enter the appropriate number of decimal places (usually set to 0 for whole numbers).

Save the Unit:

Press Enter to save the unit.

Stock Item

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Inventory Info:

Select "Inventory Masters " from the main menu.

Create Stock Items:

Choose " Inventory Masters " under " Stock Items."

Create UPS Stock Item:

Create a stock item for "UPS" with the following details:

Name: UPS
Under: STOCK IN HAND (Select the stock group you created earlier)
Units: Nos (Create the unit if not already created)
Opening Balance: 10 Nos
Rate: Rs. 8000
Godown: Specify the Godown (e.g., C-6, I-4)

Create Car Tyre Stock Item:

Create a stock item for "Car Tyre" with similar details:

Name: Car Tyre
Under: STOCK IN HAND
Units: Nos
Opening Balance: 7 Nos
Rate: Rs. 3000
Godown: Specify the Godown (e.g., C-5, I-2)

Create Car Battery Stock Item:

Create a stock item for "Car Battery" with similar details:

Name: Car Battery
Under: STOCK IN HAND
Units: Nos
Opening Balance: 15 Nos
Rate: Rs. 5500
Godown: Specify the Godown (e.g., C-5, I-10)

Create Car Woofer Stock Item:

Create a stock item for "Car Woofer" with similar details:

Name: Car Woofer
Under: STOCK IN HAND
Units: Nos
Opening Balance: 32 Nos
Rate: Rs. 2400
Godown: Specify the Godown (e.g., C-12, I-20)

Save the Stock Items:

Save each stock item entry by pressing Enter after entering the details.

TRANSACTION DURING THE PERIOD:

Apr 01 Receipt Note Received M/S NATHAN TRADERS

Car Spare Parts: 50 Packs Rs.1000 (C-15, I-35)
Car Wheel: 20 Packs Rs.15000 (C-8, I-12)

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Inventory Vouchers:

Select "Inventory Vouchers" from the main menu.

Create Receipt Note Voucher:

Choose "F9: Receipt Note" to create a new Receipt Note voucher.

Enter Voucher Date:

Set the voucher date as April 01.

Enter Supplier Details:

In the "Supplier Invoice" field, enter the details for M/S NATHAN TRADERS.

Enter Item Details:

Enter the details for the items received:

Car Spare Parts:

Name: Car Spare Parts
Quantity: 50 Packs
Rate: Rs. 1000
Godown: Specify the Godown (e.g., C-15, I-35)

Car Wheel:

Name: Car Wheel
Quantity: 20 Packs
Rate: Rs. 15000
Godown: Specify the Godown (e.g., C-8, I-12)

Enter Tracking Number:

Tracking number entry.
Enter "1" as the tracking number.

Save the Voucher:

Press Ctrl+A to save the voucher.

Apr 04 Purchased Invoice Made From Above Receipt Note MR. NATHAN TRADERS Bill No: 715 Due Days: 30

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Purchase Vouchers:

Select "Accounting Vouchers" from the main menu.

Create Purchase Voucher:

Choose "F9: Purchase" to create a new purchase voucher.

Enter Voucher Date:

Set the voucher date as April 04.

Enter Supplier Details:

In the "Supplier Invoice" field, enter the details for MR. NATHAN TRADERS.
Specify the Bill No as 715 and Due Days as 30.

Link to Receipt Note:

In the "Name of Ref" field, select "Receipt Note" from the list.
Enter the tracking number "1" to link it to the Receipt Note you created earlier.

Enter Item Details:

Enter the details for the items purchased.
Car Spare Parts:

Name: Car Spare Parts
Quantity: (Enter the quantity)
Rate: (Enter the rate)

Car Wheel:

Name: Car Wheel
Quantity: (Enter the quantity)
Rate: (Enter the rate)

Save the Voucher:

Press Ctrl+A to save the voucher.

Apr 10 Goods Rejection Outward To MR. NATHAN TRADERS

Car Spare Parts: 10 Packs Rs.1000 (C-5, I-5)
Car Wheel: 7 Packs Rs.15000 (C-2, I-5)

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Inventory Vouchers:

Select "Inventory Vouchers" from the main menu.

Create Rejection Out Voucher:

Choose "F10: Rejection Out" to create a new Rejection Out voucher.

Enter Voucher Date:

Set the voucher date as April 10.

Enter Supplier Details:

In the "Supplier Invoice" field, enter the details for MR. NATHAN TRADERS.

Enter Item Details:

Enter the details for the rejected items.
Car Spare Parts:

Name: Car Spare Parts
Quantity: 10 Packs
Rate: Rs. 1000
Godown: Specify the Godown (e.g., C-5, I-5)

Car Wheel:

Name: Car Wheel
Quantity: 7 Packs
Rate: Rs. 15000
Godown: Specify the Godown (e.g., C-2, I-5)

Enter Tracking Number:

Tracking number entry.
Enter "2" as the tracking number.

Save the Voucher:

Press Ctrl+A to save the voucher.

Apr 15 Debit Note Issued Bill No: 715

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Inventory Vouchers:

Select "Inventory Vouchers" from the main menu.

Create Debit Note Voucher:

Choose "F10: Accounting Vouchers" to access the Voucher entry screen.
Select "Ctrl+F9: Debit Note" to create a new Debit Note voucher.

Enter Voucher Date:

Set the voucher date as April 15.

Enter Supplier Details:

In the "Supplier Invoice" field, enter the details for MR. NATHAN TRADERS.

Enter Item Details:

Enter the details for the items that are the subject of the Debit Note.
Car Spare Parts:

Name: Car Spare Parts
Quantity: (Enter the quantity)
Rate: (Enter the rate)

Car Wheel:

Name: Car Wheel
Quantity: (Enter the quantity)
Rate: (Enter the rate)

Enter Tracking Number:

Enter "2" as the tracking number.

Save the Voucher:

Press Ctrl+A to save the voucher.

May 01 Delivery Note Issued To M/S.MARQUE PVT LTD

UPS: 7 Nos Rs.13000 (C-3, I-4)
Car Battery: 7 Nos Rs.7500 (C-3, I-4)
Car Spare Parts: 30 Packs Rs.1800 (C-10, I-20)
Car Woofer: 20 Nos Rs.1000 (C-10, I-10)

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Inventory Vouchers:

Select "Inventory Vouchers" from the main menu.

Create Delivery Note Voucher:

Choose "F8: Sales" to create a new Sales voucher.

Enter Voucher Date:

Set the voucher date as May 01.

Enter Customer Details:

In the "Party A/c Name" field, enter the details for M/S. MARQUE PVT LTD.

Enter Item Details:

Enter the details for the items being dispatched:
UPS:

Name: UPS
Quantity: 7 Nos
Rate: Rs. 13000
Godown: Specify the Godown (e.g., C-3, I-4)

Car Battery:

Name: Car Battery
Quantity: 7 Nos
Rate: Rs. 7500
Godown: Specify the Godown (e.g., C-3, I-4)

Car Spare Parts:

Name: Car Spare Parts
Quantity: 30 Packs
Rate: Rs. 1800
Godown: Specify the Godown (e.g., C-10, I-20)

Car Woofer:

Name: Car Woofer
Quantity: 20 Nos
Rate: Rs. 1000
Godown: Specify the Godown (e.g., C-10, I-10)

Enter Tracking Number:

Enter "1" as the tracking number.

Save the Voucher:

Press Ctrl+A to save the voucher.

June 06 M/S MARQUE PVT LTD Balance Received Bill No:130

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Inventory Vouchers:

Select "Inventory Vouchers" from the main menu.

Create Sales Invoice Voucher:

Choose "F8: Sales" to create a new Sales voucher.

Enter Voucher Date:

Set the voucher date as May 06.

Enter Customer Details:

In the "Party A/c Name" field, enter the details for M/S. MARQUE PVT LTD.

Link to Delivery Note:

In the "Name of Ref" field, select "Delivery Note" from the list.
Enter the tracking number "1" to link it to the Delivery Note.

Enter Item Details:

Enter the details for the items being sold.
Repeat the item details from the Delivery Note (UPS, Car Battery, Car Spare Parts, Car Woofer).

Enter Invoice Details:

In the "Bill No" field, enter "130."
Set the Due Date to 15 days from the voucher date.

Save the Voucher:

Press Ctrl+A to save the voucher.

May 10 Paid Inward Charges Rs.5000

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Accounting Vouchers:

Select "Accounting Vouchers" from the main menu.

Create Payment Voucher:

Choose "F5: Payment" to create a new Payment voucher.

Enter Voucher Date:

Set the voucher date as May 10.

Enter Payment Details:

In the "Account" field, select the account for Inward Charges (e.g., Inward Charges).
Enter the amount as Rs. 5000.

Enter Payment Mode:

In the "Payment Details" section, specify the payment mode (e.g., Cash).

Enter Narration (optional):

You can enter a narration to provide additional information about the transaction.

Save the Voucher:

Press Ctrl+A to save the voucher.

June 06 M/S MARQUE PVT LTD Balance Received Bill No:130

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Accounting Vouchers:

Select "Accounting Vouchers" from the main menu.

Create Receipt Voucher:

Choose "F6: Receipt" to create a new Receipt voucher.

Enter Voucher Date:

Set the voucher date as June 06.

Enter Party Details:

In the "Account" field, select the account for M/S MARQUE PVT LTD.
In the "Credit" field, select the account for M/S MARQUE PVT LTD.

Enter Amount and Bill No:

Enter the amount received against Bill No: 130 in the "Amount" field.

Enter Payment Mode:

In the "Payment Details" section, specify the payment mode (e.g., Cash).

Enter Narration (optional):

You can enter a narration to provide additional information about the transaction.

Save the Voucher:

Press Ctrl+A to save the voucher.

June 16 Paid Wages Rs.5000

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Accounting Vouchers:

Select "Accounting Vouchers" from the main menu.

Create Payment Voucher:

Choose "F5: Payment" to create a new Payment voucher.

Enter Voucher Date:

Set the voucher date as June 16.

Enter Payment Details:

In the "Account" field, select the account for Wages.
Enter the amount as Rs. 5000.

Enter Payment Mode:

In the "Payment Details" section, specify the payment mode (e.g., Cash).

Enter Narration (optional):

You can enter a narration to provide additional information about the transaction.

Save the Voucher:

Press Ctrl+A to save the voucher.

June 20 Amount Paid To MR. NATHAN TRADERS Bill No: 715 Discount Received Rs:15000

Go to Gateway of Tally:

Navigate to the "Gateway of Tally."

Access Accounting Vouchers:

Select "Accounting Vouchers" from the main menu.

Create Payment Voucher:

Choose "F5: Payment" to create a new Payment voucher.

Enter Voucher Date:

Set the voucher date as June 20.

Enter Party Details:

In the "Account" field, select the account for MR. NATHAN TRADERS.
In the "Credit" field, select the account for Cash.

Enter Amount and Bill No:

Enter the total amount of Rs. 235,000 in the "Amount" field.
Enter Bill No: 715 in the "Bill No" field.

Enter Discount Received:

In the "Discount" field, enter the discount received amount of Rs. 15,000.

Enter Narration (optional):

You can enter a narration to provide additional information about the transaction.

Save the Voucher:

Press Ctrl+A to save the voucher.