Record the Manufacturing Journal to account the manufacture the finished goods.
For example, On 24-10-2010, ABC Company manufactured 300 Cooker 12Liters.
To record the Manufacturing Journal , you can alter the default Stock Journal or create a new voucher type under stock Journal by enabling the option Use as a Manufacturing Journal .
To record the Transaction in Manufacturing Journal
1. Go to Gateway of Tally > Inventory Vouchers > F7: Stock Journal
2. In Change Voucher Type screen select Manufacturing Journal from the List of Types.
3. Enter the Date as 24-10-2010.
4. In Name of Product select the Finished Goods which is manufactured. E.g. Cooker 12Litre.
5. Application skips the BoM Name field as bill of Material is not created for the stock item.
6. In Godown field select the godown where the finished goods manufactured will be stored. ABC Company stores all the manufactured goods in JobWork (In) Location .
7. In Quantity field specify the quantity of goods manufactured. For example, 300 .
8. In Cost Tracking field select the Cost Tracking Number towards which you want to track the cost of Manufacture. Here ABC Company is tracking the cost towards JobIn - 001 .
Note : Cost Tracking field will be displayed in Manufacturing Journal for the Finished Goods selected for which Enable Cost tracking is set to Yes .
9. Under Components (Consumption) section select the stock items which are used to manufacture the finished goods.
10. Name of Item : In this field select the components used to manufacture the finished goods.
11. Godown : In this field select the goods from where the components are consumed.
12. Quantity : In this field mention the Quantity of Components required to manufacture the finished goods.
13. Rate : In this field specify the Rate of Components.
14. Amount : Amount will be calculated and displayed automatically.
♦ All the Components required to manufacture Cooker 12Litre are consumed form Job Work (In) Location godown.
♦ If BOM is created for the finished goods, on selection of Bill of Material in BoM Name field all the Components will be auto-filled.
15. Under Co-Product / By-Products / Scrap section select the stock items which are produced as Co-Product / By-Products of finished goods or Scrap.
16. Name of Item : In this field select the Co-Product / By-Products / Scrap produced during manufacture of Finished goods.
17. Godown : In this field select the goods from where the Co-Product / By-Products / Scrap are stored.
18. % of Cost Allocation : In this field specify the % of cost of allocation to be made towards the By-product/Co-product/Scrap produced.
19. Quantity : In this field mention the Quantity of Co-Product / By-Products / Scrap produced.
20. Rate & Amount : Rate & Amount will be displayed automatically based on the % of Cost Allocation.
The completed Manufacturing Journal will be displayed as shown:
21. Press Enter to save.
As Explained above record the Manufacturing Journal.
Your email with the article link has been sent.