Selling Finished Goods in Tally Prime: A Comprehensive Guide

Sold Finish Goods

Tally Prime is a powerful accounting software that helps businesses manage their finances efficiently. One of its key features is its ability to manage inventory, including finished goods. In this article, we will take a closer look at how to sell finished goods in Tally Prime.

What are Finished Goods?

Finished goods are products that have completed the production process and are ready to be sold to customers. They can be manufactured by the business itself or purchased from a supplier. In Tally Prime, finished goods are classified as inventory items.

Creating Inventory Items

Before you can sell finished goods in Tally Prime, you need to create inventory items for them. To do this, go to the Inventory Info menu and select Stock Items. Click on Create to add a new inventory item.

In the Stock Item Creation screen, enter the details of the finished goods, such as the name, unit of measure, and the rate at which they will be sold. You can also add additional information such as the item’s GST rate and HSN code.

Creating a Sales Voucher

Once you have created inventory items for your finished goods, you can start selling them by creating a sales voucher. To create a sales voucher, go to the Accounting Vouchers menu and select Sales.

In the sales voucher, select the customer to whom you are selling the finished goods. You can either select an existing customer or create a new one by clicking on the New button. Then, select the inventory item that you are selling and enter the quantity and rate at which it is being sold.

If the customer is eligible for a discount, you can enter the discount percentage in the voucher. You can also add any additional charges such as freight or packing charges.

Once you have entered all the details, save the voucher. Tally Prime will automatically update your inventory records and generate an invoice for the sale.

Managing Sales Orders

If you receive a sales order from a customer, you can use Tally Prime to track the order and manage the inventory. To create a sales order, go to the Accounting Vouchers menu and select Sales Order.

In the sales order, enter the details of the customer and the finished goods that they have ordered. Tally Prime will automatically update the inventory records and show the available stock of the item.

Once the goods are ready to be shipped, you can convert the sales order into a sales voucher by selecting the option in the voucher. This will create an invoice for the sale and deduct the items from your inventory.

Conclusion

Tally Prime is an excellent tool for managing finished goods inventory and sales. By creating inventory items and sales vouchers, you can easily track your sales and manage your inventory. Tally Prime also allows you to create sales orders and convert them into sales vouchers, making it easy to manage customer orders. With Tally Prime, selling finished goods has never been easier.