TallyPrime Basic

The Profit and Loss Account shows the operational results over a given period. It lists out the Incomes and Expenditures based on the Primary Groups of Tally and the Profit & Loss Account in Tally is updated instantly with every transaction voucher that is entered and saved. Step 1 Click on Profit & Loss A/c here you can see your tally company’s profit and loss statement Gateway of Tally >> Profit & Loss A/c   Press ALT + F1 Key for details view   Press F2 Key for change time period of profit and loss statement report   Vertical / Horizontal Form Of Profit & Loss Account The sample screen shown is in horizontal form which is the default display. You can also set it up to display in vertical form. Press CTRL + H   Vertical Views Profit And Loss Statement Report  

  When a business has more than one place to store goods (like shops, warehouses, or branches), it becomes important to track stock location-wise. In TallyPrime, this is done using Godowns. A Godown in TallyPrime is a place or location where stock is stored.It can be: A warehouse A retail shop A branch office A store room A factory In Tally, Godowns help you track how much stock is available at each location. How to Create Godown in TallyPrime? Gateway of Tally >> Create >> Godown A Godown / location is a place where stock items are stored i.e. (warehouse or other storage place). You can specify where the stock items are kept. Step 1 Click on Create   Step 2 Click on Location / Godown   Step 3 Click on create new   Here you need to fill the information of your godown / location Another example one more example   🧑‍🎓 Simple Assignment for Practice Create the following godowns in your TallyPrime: Godown Name Under Central Warehouse Primary Pune Branch Primary Kolkata Showroom Primary Then, create a stock item called “T-Shirt – Large Size” and set the Opening Balance in different godowns: Central Warehouse: 50 pcs Pune Branch: 20 pcs Kolkata Showroom: 30 pcs  

  If you run a business, you buy and sell products. These products are called Stock Items in Tally. TallyPrime helps you to manage your stock/inventory, so you always know how much quantity you have, what is the rate, and how much profit you are making. 📦 For example: A shoe shop sells Shoes – each type of shoe (like Nike Running Shoe, Adidas Casual Shoe) is a stock item. A mobile store sells Mobiles – each phone model (like iPhone 14, Samsung M14) is a stock item. Steps to Create new Stock Item: Go to Gateway of Tally Select Create Select Items Fill the details: Gateway of Tally >> Create >> Stock Item Field What to Enter Name Enter name of the product (e.g. iPhone 14) Under Select the stock group (e.g. Mobiles) Units Select unit of measurement (e.g. Nos., pcs, kg, etc.) Opening Balance Enter the quantity and rate if available Press Enter and Yes to save. Your Stock Item is now created in Tally!   How to Create Stock Item in TallyPrime? 👉 Before you begin:Make sure Inventory Features are enabled.➡️ Gateway of Tally → F11 (Features) → Inventory Features → Set “Yes” to “Maintain accounts with inventory”   Step 1. Click on create from Gateway Of Tally   Step 2 Click on Stock Item for create new Item.   Enter here item name and related information category, unit, stock group etc. Step 3 Stock Item Creation iPhone 15 after filling related info Group, Category and unit Another example of stock creation   Simple Assignments for Practice Here are some beginner-level tasks you can practice in Tally: 📍 Assignment 1: Create 3 stock items for a grocery store: Aashirvaad Atta Tata Salt Fortune Oil(All under Stock Group: Grocery, Unit: Kg or Liters)   📍 Assignment 2: Create 2 stock items for a mobile shop: Samsung Galaxy M14 – 5 Nos @ ₹13,000 Vivo Y21 – 8 Nos @ ₹11,000(Under Group: Mobiles, Unit: Nos.)   📍 Assignment 3: Create a stock item for a book shop: Stock Item: NCERT Class 12 Accounts Opening Stock: 25 pieces @ ₹90 Group: Books Unit: Nos.   📍 Assignment 4: Make a stock item entry for a clothing shop: Levi’s Jeans – 12 pieces @ ₹1500 Under Group: Clothing Unit: Pcs 📍 Assignment 5: Create your own imaginary business and add 3 stock items of your choice. Mention: Name Stock Group Quantity Rate Unit  

If you’re learning TallyPrime for inventory management, one of the first things you need to understand is the Unit of Measure (UOM). It’s a small but very important part of stock and inventory handling in Tally. In simple words, Unit of Measure refers to how you count or measure a stock item. Stock Items are mainly purchased and sold on the quantity basis. Unit are the measurement unit of stock item. Every Stock item measured by a unit. For example: You measure rice in Kilograms (Kg) You count pens in Numbers (Nos) You sell cloth in Meters (Mtrs)   How to Create Unit of Measure in TallyPrime Follow these simple steps to create a UOM in Tally: 📌 Step-by-Step Guide: Gateway of Tally > Create > Units Select Create (under Inventory Info) In the “Units Creation” screen: Type: Choose Simple (for normal units like Nos, Kg) Symbol: Type the short name (like “Nos”, “Kg”) Formal Name: Type the full name (like “Numbers”, “Kilograms”) Number of decimal places: Enter as required (e.g., 2 for weight) Press Enter and then Y to accept. 5 Common Examples of Unit of Measure Unit Symbol Formal Name Used For Nos Numbers Pens, Phones, Bottles Kg Kilograms Rice, Wheat, Steel Mtrs Meters Cloth, Cables, Wire Ltr Litres Milk, Water, Oil Box Boxes Packaged Goods, Chocolates Gateway of Tally >> Create >> Unit Step 1 Click on Gateway Of Tally   Step 2 Click on Unit for create new Stock item unit   Type here your measurement of unit Stock Item unit Creation Nos   Stock Item unit Creation KGS Stock Item unit Creation DZN Stock Item unit Creation GRM   Compound Units (Advanced Tip) If you sell items like “1 Box = 12 Nos”, you can also create Compound Units in Tally.Example: Primary Unit: Nos Alternate Unit: Box (1 Box = 12 Nos) But for beginners, starting with Simple Units is best. Assignment No 01 Create Following Stock Item Unit Under Primary 1. KG 2. Kilo Meter 3. Foot 4. Inch 5. Second

  A Stock Category in TallyPrime helps to classify items across different Stock Groups based on common features. Stock categories is the categorization of the stock items of similar features belonging to different stock groups. Eg: If the company is dealing with Smartphones. The company’s inventory might consist of Smartphones of different brands like Samsung, Oppo, Vivo etc.   Gateway of Tally >> Create >> Stock Category These can belong to different Stock Groups (based on brand) but still be in the same Stock Category (based on type). 🔄 Example: Stock Group Stock Item Stock Category HP HP Laser Printer Laser Printer Canon Canon Laser Printer Laser Printer Epson Epson Inkjet Printer Inkjet Printer This way, you can get reports based on Printer Type, not just brand. How to Create a Stock Category in TallyPrime Step-by-Step Process: Open TallyPrime and select your company. Go to:Gateway of Tally > Create > Stock Category You’ll see the Stock Category Creation screen. Fill in the details: Field What to Enter Name Enter category name (e.g., Laser Printer, Inkjet Printer) Under Choose Primary or another category if it’s a sub-category Press Ctrl + A to save. Step 1 Click on Create   Step 2 Click on Stock Category   Step 3 Stock Category Creation Microsoft   Step 4 Stock Category Creation Oracle   Assignment 1: Create Stock Groups for a Mobile Shop Task: Create the following stock groups under Primary: S.No Stock Group 1 Smartphones 2 Accessories 3 Smartwatches 4 Chargers 5 Headphones Objective: Learn how to create and organize stock items based on product categories. Assignment 2: Create Stock Categories for Laptop Shop Task: Create the following stock categories under Primary: S.No Stock Category 1 i5 Processor 2 i7 Processor 3 14-Inch Display 4 16-Inch Display 5 Touchscreen Laptops Objective: Practice classifying similar laptops across different brands. Assignment 3: Create Stock Items with Group and Category Task: Create the following stock items and assign both Stock Group and Stock Category: Item Name Stock Group Stock Category Dell i5 Laptop Dell i5 Processor HP i7 Laptop HP i7 Processor Lenovo Touch 14″ Lenovo Touchscreen Laptop Objective: Understand how to link stock items with both groups and categories. Assignment 4: Create a Stock Category Structure for a Garment Store Task: Design 5 stock categories under “Men’s Clothing”: S.No Stock Category 1 Formal Shirts 2 Casual Shirts 3 Jeans 4 Trousers 5 T-Shirts Objective: Practice organizing apparel products using stock categories.    

  A Stock Group in TallyPrime is used to classify similar stock items under a common category. Just like Ledger Groups for accounts, Stock Groups are for inventory items.   Example: Let’s say you run a computer accessories store. You can group stock items like this: Stock Group: Keyboards Stock Items: Dell Keyboard, Logitech Keyboard Stock Group: Monitors Stock Items: LG Monitor, Samsung Monitor   How to Create a Stock Group in TallyPrime Step-by-Step Process Open TallyPrime and select your company. Go to:Gateway of Tally > Create > Stock Group You’ll see the Stock Group Creation screen.   ✍️ Fill in the following fields: Field Details Name Enter the name of the stock group (e.g., Keyboards, Monitors) Alias Optional: You can leave this blank Under Choose Primary or another stock group if you’re creating sub-groups Should quantities be added? Choose Yes if you want quantity totals for this group Press Ctrl + A to save. Step 1- Press F11 for Company Features open / Enable Inventory options   Step 2- Click on Create   Step 3- Click on Stock Group   Step 4- Enter here Group Name ( SmartPhones) Enter here Group Name ( Laptops) Enter here Group Name ( Tablets)   Results –     Part A: Create the Following Stock Groups S.No Stock Group Name Under Should Quantities Be Added? 1 Laptops Primary Yes 2 Mobile Phones Primary Yes 3 Headphones Primary Yes 4 Computer Accessories Primary Yes 5 Printers Primary Yes Part B: Create the Following Stock Items S.No Stock Item Name Under Group Unit Rate (₹) Opening Qty 1 Dell Inspiron i5 Laptops Nos 45,000 10 2 HP Pavilion i7 Laptops Nos 60,000 5 3 Samsung Galaxy M14 Mobile Phones Nos 15,000 8 4 iPhone 13 Mobile Phones Nos 65,000 3 5 Sony Bluetooth Headset Headphones Nos 3,200 12 6 HP USB Keyboard Computer Accessories Nos 700 15 7 Logitech Mouse Computer Accessories Nos 500 20 8 Canon Laser Printer Printers Nos 9,000 4 9 Epson Ink Tank Printer Printers Nos 12,000 2 10 Boat Wired Earphones Headphones Nos 450 10 📌 Expected Outcome: You should have 5 Stock Groups and 10 Stock Items properly categorized. Inventory reports will now show totals based on each Stock Group. You’ll be able to view Group Summary, Stock Summary, and track item-wise stock.