Creating Godown to Store Raw Material Purchased

You can create a godown to store the raw materials purchased.

To create the Godown

1.    Go to Gateway of Tally > Inventory Info. > Godowns > Create. The Godown Creation screen appears.

2.    Enter Name of the godown.

3.    Select Primary in the field Under.

4.    Set the option Our stock with third party? to No.

5.    Set the option Third party stock with us? to No.

The completed screen appears as shown below:

6.    Press Enter to save.

Note: You can create godowns to store items without affecting the stock valuation.

♦   Set the option Our stock with third party? to Yes if the godown is created to account for the company's goods lying with the third party like Consignment agent, Bonded Ware house, Job worker etc.

♦   Set the option Third party stock with us? to Yes if the godown is created to account for the goods received from third party and the stock of third party should not affect the company stock value. This is when the company has received the stock for Job Work or acting as consignment agent or for any other similar reason.

You can create the godowns with the following combinations: