When goods are manufactured, the same can be brought into the books as finished goods by recording a manufacturing journal.
Using the raw materials purchased, ABC Company manufactured Oval Eye Glasses - T1234, 500 Nos.
Recording the manufacture of stock items is done in two steps:
To create the stock item (finished goods)
1. Go to Gateway of Tally > Inventory Info. > Stock Items. > ( Single Stock Item ) Create .
2. Click F12: Configure and enable the option Allow component list details (Bill of Materials) .
3. Enter the Name of the stock item.
4. Select the required stock group in the field Under .
5. Select the required unit of measure in the Units field.
6. Enable the option Set Components (BOM) .
7. Enter the BOM Name as Spectacles .
8. Press Enter .
9. Enter components for the stock item as shown below:
10. Select Applicable in the field Is Excise Applicable?
The Excise Details screen with all the tariff details appear as shown below:
11. Select the Type of stock item as Finished Goods .
12. Enter the Conversion factor as 1 No = 1 U .
13. Press Enter .
14. Select Applicable in the field Is VAT Applicable? , if required.
15. Press Enter .
16. Press Enter to save.
To record a manufacturing journal
1. From Gateway of Tally > Inventory Vouchers > F7 : Stock Journal .
2. Select Manufacturing Journal as the Voucher Type .
3. Select ABC Company as the Tax Unit .
4. Enter details as shown below:
5. Press Enter to save.
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