How to Create Stock Item with Opening Balance in TallyPrime

If you are starting with Tally and already have products in stock, it’s important to record them correctly. In TallyPrime, this is done using Stock Items with Opening Balance.

This blog will guide you in simple steps to create stock items along with their quantity and value.

Example:

If you have:

• 10 pieces of iPhone 14
• Cost per piece: ₹70,000

Then your opening stock is:

• Qty: 10
• Rate: ₹70,000
• Value: ₹7,00,000

Steps to Create Stock Item with Opening Balance in TallyPrime

📍 Step 1: Enable Inventory Features

• Go to Gateway of Tally → Press F11 (Features) → Inventory
• Set Yes to Maintain Accounts with Inventory

 

📍 Step 2: Create Unit of Measurement (if not created)

• Go to Inventory Info → Units of Measurement → Create
  • Example:
• Symbol: Nos
• Formal Name: Numbers
• Number of Decimal Places: 0

 

📍 Step 3: Create Stock Group (optional)

• Go to Inventory Info → Stock Groups → Create
  • Example:
• Name: Mobiles
• Under: Primary

This helps organize your stock better.

📍 Step 4: Create Stock Item with Opening Balance

1. Go to Inventory Info → Stock Items → Create
2. Enter the following:

3. Press Enter and Yes to save.

✅ Your stock item is now created with quantity and value.

Example:

Let’s say you are running a mobile shop.

You want to create a stock item for:

• Samsung Galaxy M14
• Opening Stock: 5 Nos
• Rate: ₹13,000 each

Entry in Tally:

• Name: Samsung Galaxy M14
• Under: Mobiles
• Units: Nos
• Opening Balance: 5 Nos @ ₹13,000
• Total Value: ₹65,000 (automatically calculated)

 

How to create stock item with opening balance?

Tally allows you to record this directly while creating the stock item.

Click on Create

Click on Stock item

 

Fill here item name and then select stock group if already exits either create new press Alt + C

 

Type Stock group name

here you can see

 

Select Category, unit of measurement and opening qty

 

select location

 

item details like rate

and now press CTRL + A for save

 

 

Now See reports

 

Here you can see reports of item

 

🧑‍🎓 Quick Assignment for Practice

✅ Task:

Create the following stock items with opening balances in TallyPrime: