To create a stock item
Go to Gateway of Tally > Inventory Info.>Stock Items > Single Stock Item > Create.
Enter the Name of the stock item.
Select the required stock group in the Under field.
Select the required units of measure in the Units field.
Select Applicable in the Is Excise Applicable field.
Enable the option Set/Alter Excise details? to Yes.
Select the Type of stock item as required.
Enter the Conversion Factorto convert the unit of measure defined in the Units field to the Reporting UOM predefined in the selected Excise Classification.
Enable the option Is inclusive of duties and taxes.
Enter Opening Balance, if required.
The completed stock item creation screen appears as shown below:
Press Enter.
Click a link below to configure the stock item:
Configuring Selection of Tariff Type
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