The courseware is designed to equip participants with a profound understanding of Inventory Management. Tally is a revolutionary product which has been created with the objectives of Simplify the Simplest, Greater Flexibility and New Look and Feel, and our course also describes the same. Inventory Management provides a thorough understanding of key concepts and practices essential for effective control and optimization of inventory within organizational settings. The course is designed to equip participants with the knowledge and skills necessary to implement efficient inventory management strategies, ensuring smooth operations and cost-effectiveness.
The course covers key topics such as -
-The fundamental concepts of storage and classification of inventory for streamlined management.
-The significance of purchase and sales order management processes in inventory control.
-Techniques to track additional costs of purchase and integrate them into inventory systems.
-Insights into the manufacturing process, including its impact on inventory and job work management.
-Proficiency in job costing to accurately assess and allocate costs.
-Understanding and utilizing inventory reports to analyze and enhance business operations.
This course is suitable for individuals aspiring to pursue careers in inventory management, operations, or accounting. It is also ideal for business professionals seeking to enhance their skills in inventory control and optimization using Tally. Additionally, business owners and managers responsible for overseeing inventory processes within their organizations will benefit from this course. Students or graduates looking for practical knowledge in inventory management through Tally software are encouraged to enroll.
At the end of the module Storage and Classification of Inventory, you will be able to…
• Define the importance of efficient inventory storage and classification.
• Demonstrate the ability to create, modify, and manage inventory in Tally.
• Comprehend the concept of batches in inventory management.
• Execute Selling of Stock Items and Identify Expired Batch in Sales Invoice
• Generate and Analyze Batch Reports
• Implement Price Levels and Price Lists
Learning Objectives and Key Insights of Storage and Classification of Inventory•5 minutes
Introduction To Inventory Masters•3 minutes
Company Creation in Tally•1 minute
Introduction of Capital into a Business•3 minutes
Overview of Inventory Masters Creation•3 minutes
Creation of Stock Group•2 minutes
Creation of Stock Category•1 minute
Creation of Unit•1 minute
Creation of Stock Item•2 minutes
Creation of Godown•3 minutes
Overview Of Tracking Of Movements Of Goods In Batches-Lots•3 minutes
Activation of Batches/Lots for Stock Items•3 minutes
Allocating Batch/Lot Details in Purchase Invoice- Allocation of Batch/Lot Details•1 minute
Allocation of Batch/Lot Details in Purchase Invoice-Recording of Transaction•4 minutes
Allocation of Batch/Lot Details in Purchase Invoice-Activity•5 minutes
Selling of Stock Items from Batch/Lot•6 minutes
Identifying of Expired Batch in Sales Invoice•5 minutes
Returning of Expired Batch Stock Items•6 minutes
Batch Reports•4 minutes
Overview of Price Levels and Price Lists•2 minutes
Activating Price Lists and Defining of Price Levels•1 minute
Creation of Price List•6 minutes
Price Level & Price List usage in Sales Voucher•6 minutes
Revise Price List•6 minutes
Key Takeaways and Conclusion•1 minute
5 readings•Total 67 minutes
Introduction to Storage & Classification of Inventory•5 minutes
Understanding Inventory Masters in Tally•20 minutes
Overview of Inventory Movement and Batch Management•20 minutes
Overview of Price Levels and Price Lists in Tally•20 minutes
Summary and Conclusion•2 minutes
5 assignments•Total 50 minutes
Test Your Knowledge on Introduction of Storage & Classification of Inventory•6 minutes
Testing Your Knowledge on Inventory Masters in Tally•10 minutes
Test Your Knowledge on Tracking Inventory by Batches and Lots•10 minutes
Test Your Knowledge on Price Levels and Price Lists•8 minutes
Graded Assignment-Storage and Classification of Inventory•16 minutes
1 discussion prompt•Total 10 minutes
You can make use of this Discussion Prompt to introduce yourself.•10 minutes
Purchase and Sales Order Management
Module 2•3 hours to complete
Module details
At the end of the module Purchase and Sales Order Management, You will be able to:
• Recognize the crucial role of efficient order management in business operations.
• Demonstrate proficiency in creating, modifying, and managing purchase orders.
• Demonstrate the ability to create, modify, and manage sales orders.
• Track and manage outstanding purchase and sales orders.
• Demonstrate the process of setting up and managing re-order levels within Tally.
• Demonstrate proficiency in executing godown transfers within Tally.
What's included
22 videos7 readings7 assignments
Show info about module content
22 videos•Total 68 minutes
Introduction to Purchase and Sales Order Management – Learning Objectives•2 minutes
Overview of Purchase Order Processing•3 minutes
Recording of Purchase Order•6 minutes
Recording of Receipt Note Voucher•4 minutes
Recording Rejections Out Voucher•3 minutes
Recording Purchase Voucher•3 minutes
Recording Debit Note Voucher•3 minutes
Recording Payment Voucher•2 minutes
Overview of Sales Order Processing•3 minutes
Recording of Sales Order in Tally•5 minutes
Printing of Quotation•2 minutes
Recording Delivery Note Voucher•5 minutes
Recording Rejections In Voucher•3 minutes
Recording of Sales Voucher•2 minutes
Recording Receipt Voucher•2 minutes
Sales Order Outstanding•4 minutes
Purchase Order Outstanding•1 minute
Pre-Closure of Orders•2 minutes
Reorder Level in Tally•5 minutes
Display Reorder Status•3 minutes
Understanding Godown Transfer in Tally•4 minutes
Conclusion and Takeaways•1 minute
7 readings•Total 39 minutes
Key Learning Objectives & Overview of Purchase and Sales Order Management•2 minutes
Understanding Purchase Order Processing in Tally•10 minutes
Understanding Sales Order Processing in Tally•10 minutes
Key Concepts of Order Outstandings•5 minutes
Key Concepts of Re-order Levels in Tally•5 minutes
Step-by-Step Guide to Godown Transfer in Tally•5 minutes
Conclusion and Key Insights•2 minutes
7 assignments•Total 48 minutes
Test Your Knowledge on Introduction to Purchase and Sales Order Management.•6 minutes
Testing Knowledge on Purchase Order Processing in Tally•10 minutes
Testing Knowledge on Sales Order Processing•6 minutes
Test Your Knowledge on Order Outstandings•4 minutes
Test Your Knowledge on Re-order Levels in Tally•4 minutes
Test Your Knowledge on Godown Transfer in Tally•2 minutes
Purchase and Sales Order Management•16 minutes
Tracking Additional Costs of Purchase
Module 3•1 hour to complete
Module details
At the end of the module Tracking Additional Costs of Purchase, You will be able to:
• Recognize the significance of accurately tracking and accounting for additional costs in the purchase process.
• Demonstrate proficiency in configuring and recording additional costs associated with purchases in purchase voucher mode and item invoice mode.
• Execute the creation of Debit Note Vouchers with additional cost details.
What's included
6 videos3 readings3 assignments
Show info about module content
6 videos•Total 25 minutes
Tracking and Managing Additional Costs of Purchases: Learning Objectives•2 minutes
Configuring Additional Cost of Purchases in Tally•2 minutes
Purchase Transaction with Additional Cost Details in Voucher Mode•8 minutes
Purchase Transaction with Additional Cost Details in Item Invoice Mode•8 minutes
Debit Note Voucher with Additional Cost•5 minutes
Conclusion and Takeaways•1 minute
3 readings•Total 13 minutes
Understanding Additional Costs of Purchase: Key Concepts and Introduction•1 minute
Understanding the Configuration of Additional Cost in Transactions•10 minutes
Conclusion and Key Insights•2 minutes
3 assignments•Total 24 minutes
Test Your Knowledge on Introduction to Tracking Additional Costs of Purchase•2 minutes
Test Your Knowledge on Configuring Additional Cost in Transactions•10 minutes
Tracking Additional Costs of Purchase•12 minutes
Manufacturing Process-Job Work
Module 4•3 hours to complete
Module details
At the end of the module Manufacturing Process-Job Work, You will be able to:
• Enable Job Order Processing in Tally
• Define and configure voucher types for job work out and in orders.
• Implement BOM for accurate listing of components in job work out orders.
• Demonstrate proficiency in recording job work out and in order vouchers in Tally.
• Execute the recording of material out and in vouchers for job work.
• Record and book job work charges accurately.
• Account the Payment to Job Worker against Purchase Consideration.
• Generate and interpret job work out reports for analysis.
What's included
26 videos6 readings5 assignments
Show info about module content
26 videos•Total 80 minutes
Learning Objectives of Manufacturing Process - Job Work•1 minute
Introduction of Manufacturing Process - Job Work•3 minutes
Enabling Job Order Processing in Tally•2 minutes
Job Work Out Order Processing in Tally•2 minutes
Voucher Type Set Up•3 minutes
Auto Listing of Components Using Bill of Materials•7 minutes
Recording of Job Work Out Order Voucher•7 minutes
Recording of Material Out Voucher•4 minutes
Recording of Material In Voucher•3 minutes
Booking of Job Work Charges (Expenses)•4 minutes
Accounting of Payment to Job Worker against Purchase Consideration•5 minutes
Job Work Out Reports•3 minutes
Cost Estimation•2 minutes
Job Work In Order Processing in Tally•2 minutes
Voucher Type Set Up•2 minutes
Auto Listing of Components Using Bill of Materials•2 minutes
Recording of Job Work In Order Voucher•4 minutes
Recording of Material In (Raw Materials) Voucher•2 minutes
Recording of Stock Journal Voucher for Manufacturing Finished Goods (Manufacturing Process)•4 minutes
Recording of Material Out (Finished Goods) Voucher•3 minutes
Recording of Material Out (Scrap) Voucher•3 minutes
Booking of Job Work Charges (Income)•2 minutes
Accounting of Receipt from the Principal Manufacturer towards Job Work Rendered•2 minutes
Job Work In Reports•3 minutes
Inter-Godown Material Transfer Process•4 minutes
Conclusion and Takeaways•1 minute
6 readings•Total 39 minutes
Learning Objectives and Introduction of Manufacturing Process- Job Work•2 minutes
Step by Step Guide for Enabling Job Order Processing in Tally•1 minute
Understanding Job Work Out Order Processing•15 minutes
Understanding Job Work In Order Processing•15 minutes
Process of Transferring Materials Between Godowns•5 minutes
Conclusion and Key Insights•1 minute
5 assignments•Total 44 minutes
Test Your Knowledge on Introduction of Manufacturing Process- Job Work•4 minutes
Test Your Knowledge on Job Work Out Order Processing•10 minutes
Test Your Knowledge on Job Work In Order Processing•10 minutes
Test Your Knowledge on Inter-Godown Material Transfers•4 minutes
Manufacturing Process - Job Work•16 minutes
Job Costing
Module 5•2 hours to complete
Module details
At the end of the module Job Costing, you will be able to:
• Demonstrate the fundamental concept of job costing in accounting.
• Identify the key features and characteristics of job costing.
• Create the Chart of Accounts for Job Costing Process.
• Recording Job Costing Related Transactions.
• Record manufacturing journal entries for the conversion of raw materials into finished goods.
• Record stock journal entries for inter-godown stock transfers related to jobs.
What's included
19 videos8 readings7 assignments
Show info about module content
19 videos•Total 41 minutes
Learning Objectives of Job Costing•1 minute
Introduction of Job Costing•2 minutes
Features of Job Costing & Types of businesses that use Job costing•3 minutes
Key Documents in the Job Costing Process•5 minutes
Setting Up Job Costing in Tally•1 minute
Creation of Cost Centres as Project/Job•1 minute
Creation of Godown for Project/Job Location•2 minutes
Creation of Stock Groups and Stock Items•2 minutes
Creation of Accounting Masters•3 minutes
Creation of Voucher Type and Voucher Class under Stock Journal•2 minutes
Accounting Purchase of Raw Materials•2 minutes
Accounting Payment for Transportation Charges Incurred on Purchase of Raw Materials•3 minutes
Accounting Manufacturing Journal for Conversion of Raw Materials to Finished Goods•3 minutes
Accounting Payment for Expenses Incurred during the Manufacturing Process•2 minutes
Accounting Stock Journal for Inter-Godown Stock transfer•2 minutes
Accounting Sale of Finished Goods to the Customer•2 minutes
Accounting Receipt from the Customer•2 minutes
Understanding Job Costing Reports in Tally•3 minutes
Conclusion and Takeaways•1 minute
8 readings•Total 29 minutes
Learning Objectives and Introduction of Job Costing•2 minutes
Exploring the Features of Job Costing and Its Applications in Various Business Types•2 minutes
Understanding the Documents Used in Job Costing•2 minutes
Step-by-Step Guide to Enabling Job Costing in Tally•2 minutes
Guide to Set Up the Chart of Accounts in Job Costing•5 minutes
Recording Job Costing Related Transactions•10 minutes
Exploring Job Costing Reports in Tally•5 minutes
Conclusion and Key Insights•1 minute
7 assignments•Total 42 minutes
Test Your Knowledge on Job Costing and Its Features•4 minutes
Test Your Knowledge on Documents used in Job Costing Process•4 minutes
Test Your Knowledge on Enabling Job Costing in Tally•2 minutes
Test Your Knowledge on Creation of Chart of Accounts for Job Costing Process•6 minutes
Test Your Knowledge on Recording Job Costing Related Transactions•6 minutes
Test Your Knowledge on Job Costing Reports•4 minutes
Job Costing•16 minutes
Inventory Reports
Module 6•16 minutes to complete
Module details
At the end of the module Inventory Reports, you will be able to:
• Generate and interpret the Stock Summary Report to evaluate inventory levels, valuation, and overall performance.
• Check godown-wise stock availability for better inventory planning and management.
• Analyze inventory movement using the Movement Analysis Report to track stock inflow and outflow.
• Use the Stock Query feature to get instant updates on item-wise stock details.
What's included
1 video1 reading1 assignment
Show info about module content
1 video•Total 7 minutes
Overview of Inventory Reports in Tally•7 minutes
1 reading•Total 5 minutes
Understanding Inventory Reports in Tally•5 minutes
1 assignment•Total 4 minutes
Test Your Knowledge on Inventory Reports•4 minutes
Instructor
Instructor ratings
Instructor ratings
We asked all learners to give feedback on our instructors based on the quality of their teaching style.
Tally Education and Distribution Services Private Limited, is a group company and an education initiative of Tally Solutions.
We are the designers of Tally, the simplest and most widely used business software in the nation. We deliver the best-in-the-industry learning and certifications on Accounting with TallyPrime thanks to our years of domain expertise!
The in-demand Tally Certifications enhance skills, increase chances of higher pay, get a better job offer, and open new career opportunities.
When will I have access to the lectures and assignments?
To access the course materials, assignments and to earn a Certificate, you will need to purchase the Certificate experience when you enroll in a course. You can try a Free Trial instead, or apply for Financial Aid. The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I purchase the Certificate?
When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.