#How to import Stock Items in Tally Prime | Explore Tumblr Posts and Blogs

s20marketing · 8 months

Text

HOW TO ENABLE ZERO VALUED TRANSACTIONS IN TALLY.ERP 9 AND TALLY PRIME

Businesses often use ERP9 and TallyPrime, which are well-known software programs for handling financial transactions. These platforms have a special ability to document transactions that have no value. This feature can be advantageous for a business if utilised properly. In this piece, based on teachings from a Tally Course in Ahmedabad, we’ll examine how to allow transactions with a value of zero in TallyPrime and ERP9.

Section 1: Comprehending Transactions with Zero Value

Transactions that have no monetary exchange but are necessary for accounting and inventory purposes are called zero-valued transactions. These might involve actions such as giving away samples at no cost, exchanging defective products, or modifying stock levels due to theft or loss. Keeping a record of these exchanges enhances precision in keeping track of stock and offers helpful information for analysis and making decisions.

Section 2: The Importance of Transactions with Zero Value in Commerce

Transactions with a value of zero are important for companies. They permit or enable:

Precise Stock Control:

Keeping track of the goods you have on hand is very important for any company, and transactions without value are a necessary component of this procedure. They assist companies in precisely tracking inventory levels, even when items are relocated without a monetary exchange.

Openness about money matters:

Transactions with a value of zero help maintain financial transparency. They make sure to keep track of all business operations, even if they don’t involve a direct monetary transaction.

Improved ability to make choices:

By monitoring transactions with no value, companies can collect information that helps with making choices. For example, studying how often and why transactions have a value of zero can give us information about the quality of the product, how satisfied customers are, or how efficient operations are.

Section 3: Allowing Transactions with Zero Value in Tally.ERP9

To permit transactions with a value of zero in Tally.ERP9, perform the following actions. This method, which is instructed in a Tally training programme in Ahmedabad, is very simple.

Step 1: Launch Tally.ERP9 and choose the desired company to allow transactions with zero value.

Step 2: Navigate to the “Features” selection in the primary menu, which may also be labelled as “F11 Features”.

Step 3: Choose “Characteristics of Stock” from the menu.

Step 4: Navigate to the “Inventory Features” tab and locate the section labelled “Transactions”.

Step 5: In this part, there is a choice labelled “Permit Entries with Zero Value”. Choose “Yes” for this selection.

Step 6: Use the keyboard shortcut “Ctrl+A” to store your modifications.

Once you complete these instructions, you can enter transactions with a value of zero in Tally.ERP9.

Section 4: Allowing Transactions with Zero Value in TallyPrime

The method for allowing transactions with zero value in TallyPrime is a bit distinct but still easy to use. Here are the instructions in a sequential manner:

Step 1: launch TallyPrime and choose the desired company to allow transactions with zero value.

Step 2: Navigate to “Additional Functions” (Shortcut: F4).

Step 3: Choose “Characteristics of Available Items”.

Step 4: Navigate to the section labelled “Transactions”. Look for a choice named “Enable Entries with Zero Value”. Choose “Yes” for this setting.

Step 5: Press the “Ctrl” and “Enter” keys together to keep your preferences.

Following these instructions, you can enter transactions with a value of zero in TallyPrime.

Section 5: Documenting Transactions with a Value of Zero

After activating zero-value transactions in Tally.ERP 9 or TallyPrime, you can record them just like you would record regular transactions. Here is an easy-to-use manual to adhere to:

Step 1: Select “Transactions” in the Gateway of Tally. Then, choose “Accounting Vouchers” to access the Voucher Entry screen.

Step 2: Choose the right coupon category for your purchase. As an example, you could utilise a sales receipt to provide complimentary samples to a client.

Step 3: involves providing specific information about the transaction such as the date, the account of the party involved, and details about the item.

Step 4: Input the item quantity in the item details section, but ensure that the rate and amount are both set to zero.

Step 5: Use the keyboard shortcut “Ctrl+A” to keep the voucher.

We have recorded your transaction with a value of zero. This will be visible in your account and inventory reports.

Section 6: The Significance of Understanding How to Document Transactions with No Value.

Acquiring the ability to document transactions with a value of zero is a useful proficiency for individuals involved in financial administration or bookkeeping within a company. It makes sure that financial and inventory records are correct, helps follow accounting rules, and can give useful information for analysing the business.

This ability is included in the programme of high-quality Tally training. As an example, the Tally Course available in Ahmedabad provides thorough instruction on Tally. Using ERP9 and TallyPrime to record transactions, even those with zero value.

Section 7: Understanding Tally through a Tally Training Programme in Ahmedabad.

A course in Ahmedabad teaches students how to effectively use Tally for accounting in their business. The class teaches everything about Tally, starting with the basics and going up to more complex features such as transactions with zero value.

With the help of a skilled instructor, students gain practical knowledge of Tally and can use what they learn in real-life situations. By becoming proficient in concepts such as transactions with no value, learners in this class can make a noteworthy contribution to corporate finance, adherence to regulations, and making informed choices.

Section 8: The Growing Significance of Basic Math Abilities in the Corporate Environment

In the current fast-moving business world, it is crucial to have precise and effective bookkeeping methods. Businesses of all sizes use accounting software such as Tally.ERP9 and TallyPrime to handle their financial management needs.

Therefore, having good skills in Tally is becoming more and more desirable in the job industry. By mastering abilities such as facilitating and documenting transactions with no value, you can become a valuable resource for any company. A course in Tally in Ahmedabad can provide you with an advantage by teaching you the abilities that employers seek.

Section 9: Practical Uses of Transactions with Zero Value

Being able to document transactions with a value of zero can be helpful in fields where companies frequently give away free samples, offer services for free, or modify their inventory because of loss, theft, or damage. This involves areas such as selling, production, and assistance, among additional ones.

By keeping a record of these actions, companies can have a more precise account of their stock, monitor their marketing efforts more effectively, and make knowledgeable choices based on complete information. A course in tally in Ahmedabad can help you prepare for practical uses, increasing your professional worth.

Section 10: Moving Forward with a Counting Class in Ahmedabad

If you finish a Tally programme in Ahmedabad, you can prepare yourself for a hopeful career journey. There are many job options available in accounting, such as working in different industries, auditing, tax consulting, and financial analysis.

Furthermore, the abilities you acquire from this class, like allowing and documenting transactions with no value, may also be advantageous if you’re thinking about starting a business. Experts can assist you in keeping precise business records, adhering to regulations, and making informed choices, which can aid in the growth of your business.

Section 11: The Advantages of Your Abilities for Companies

After finishing the Tally Course in Ahmedabad, you will not only gain knowledge and abilities but also have application-based skills, not just theory. You will be a valuable addition to any company, providing essential aid in handling financial and inventory tasks accurately and efficiently.

Your comprehension of transactions with zero value can result in business records that are more transparent and inclusive. It may aid in recognising patterns or problems within the company, impacting future plans and adding to the general well-being and expansion of the organisation.

Section 12: How You Affect the Financial Environment

If you learn how to use Tally software well, even with transactions that have zero value, you can greatly affect an organisation’s finances. This ability helps make sure that records are correct and helps organisations use their resources better, which can lead to sustainable growth.

Your knowledge gained from the Tally Course in Ahmedabad will make you stand out in this challenging field, improving your likelihood of obtaining satisfying positions in various sectors.

Section 13: Ongoing Education and Use

Similar to any other ability, the information you acquire from a Tally Course in Ahmedabad will need consistent practice and education. As the world of business evolves and Tally keeps improving its software, keeping yourself informed about these changes will make sure that your abilities stay important and in demand.

Luckily, the strong base given by this class will help you adjust to these modifications, letting you consistently make good contributions to your company or enterprise.

Final thoughts: Becoming proficient in transactions with zero value through a Tally course in Ahmedabad.

To sum up, transactions with a value of zero are important for Tally and can help businesses keep precise records of their accounts and inventory. Knowing how to allow and document these dealings is a useful ability for all bookkeeping experts.

In Ahmedabad, a course is available that teaches Tally and its various features. This course prepares students with the necessary knowledge and abilities to succeed in financial management and accounting positions. By becoming proficient in Tally’s features, including transactions with zero value, learners in this class will be equipped to make valuable contributions to businesses and their financial management.

As businesses change, the need for accounting experts who know how to use Tally will likely go up. By becoming proficient in Tally’s features, including transactions with zero value, you can prepare yourself to meet the demand and succeed in your profession.

#accounting #tax #commerce #learning

0 notes

olko71 · 3 years

Text

New Post has been published on All about business online

New Post has been published on http://yaroreviews.info/2021/08/walmart-earnings-show-sales-rose-as-shoppers-returned-to-stores

Walmart Earnings Show Sales Rose as Shoppers Returned to Stores

Walmart Inc. WMT -0.03% logged another quarter of rising U.S. sales as a return to in-store shopping offset slower online growth, at a time when retailers are navigating rising costs, supply chain snarls and an uptick in Covid-19 cases in many parts of the country.

Comparable sales, those from U.S. stores and digital channels operating for at least 12 months, rose 5.2% in the quarter ended July 30 compared with the same period last year. U.S. e-commerce sales rose 6% from a year ago, when Covid restrictions kept many people home.

Growth slowed from earlier in the year, both online and off, but was still given a boost by government stimulus dollars and a generally strong U.S. economy, the company said Tuesday. Sales increased each month through the quarter, with July the strongest month, Walmart said.

SHARE YOUR THOUGHTS

How have your Walmart shopping habits changed over the past year? Join the conversation below.

The recent rise of the Delta variant hasn’t left “any meaningful impact” nationally on the business, said Walmart Chief Financial Officer Brett Biggs, in an interview. In some regions shoppers are wearing masks more often in stores, but overall stores remain busy with back-to-school shopping, he said. As some local officials use vaccination requirements, not lockdowns, to fight the pandemic, “we haven’t seen any panic buying or anything like that,” said Mr. Biggs.

There are signs some of the surge in sales at many retailers earlier in the year are cooling. U.S. retail sales fell 1.1% in July, the Commerce Department said Tuesday, with spending declining broadly across categories, including clothing, furniture and autos. The government’s tally, which includes restaurants and bars, had risen in June as more Americans got vaccinated and spending shifted to dining out and travel.

Also on Tuesday, Home Depot Inc. said sales rose more slowly than earlier in the pandemic when the company benefited from a rapid surge in home improvement spending.

At Walmart, the latest quarterly sales and profits exceeded Wall Street’s estimates. For its fiscal year, Walmart forecast continued sales gains for the back-to-school and holiday shopping seasons. U.S. comparable sales will rise 5% to 6% for the year, Walmart said.

More shoppers came to Walmart stores, with U.S. transactions up 6.1% during the quarter, but they spent slightly less per visit, or around 0.8% less versus the same period last year. That’s a flip from earlier pandemic trends when shoppers moved spending online and visited stores less frequently, but spent more each visit.

Executives said the company captured market share from smaller players in the grocery business after losing some share earlier in the pandemic. Grocery sales account for a majority of Walmart’s U.S. business.

U.S. online sales growth of 6% in the July quarter came after a 97% surge in the year earlier quarter when Covid-19 restrictions prompted people to start ordering groceries and other items from home. Walmart’s online sales rose 37% in the first quarter of this year, which ended in May. On Tuesday, the company said it was on track for $75 billion in e-commerce sales for the year.

Rival Amazon.com Inc. also reported a slowdown in e-commerce growth in its latest quarter, which ended in June. Amazon’s online store sales, which had been growing at a high double-digit rate, eased to 16% year-over-year growth for the June quarter. The decline came even as Amazon moved up the date of its annual Prime Day shopping event, which is usually held in the third quarter.

Overall, Walmart reported fiscal second-quarter revenue rose 2.4% to $141 billion, as divestitures of stores in some international markets depressed total revenue. The company had net income of $4.28 billion, down 34% from a year ago when it booked a gain on investment. Excluding such items, Walmart said it had an adjusted profit of $1.78 a share, beating analysts expectations of $1.57 a share, according to FactSet.

Walmart’s latest quarterly sales and profits exceeded Wall Street’s estimates.

Photo: David Swanson/Bloomberg News

Executives said the company’s U.S. profits got a lift from administering Covid-19 vaccines and lower Covid-related spending, though those gains were muted by higher supply chain costs and wage increases.

Walmart, the country’s largest private employer with around 1.6 million U.S. workers, is navigating a tight labor market, along with a wide variety of businesses from restaurants to factories. In recent months Walmart has given special bonuses and temporary pay raises to many of its warehouse workers to keep them on the job ahead of the busy holiday shopping season.

The retailer is dealing with “a bit more cost inflation than normal,” Mr. Biggs said on a conference call Tuesday. “Our merchants are working with suppliers and monitoring price gaps to keep prices low while managing margins,” he said. It’s also working to navigate supply chain challenges by “adding extra lead time to orders and chartering vessels specifically for Walmart goods,” he said. Still, some items continue to be hard to find on shelves, he said.

Walmart is asking shoppers to wear masks in counties with high levels of Covid transmission and requiring all staff to wear masks. It is mandating that corporate staff and regional managers get vaccinated but has not put a mandate in place for store or warehouse workers. Instead, it is offering a $150 bonus for hourly workers who get the Covid vaccine.

“We think it’s important that as many people in the U.S. get vaccinated as soon as possible,” Walmart Chief Executive Doug McMillon said Tuesday, while discussing earnings.

Walmart’s stock has risen more slowly than the overall market, up 4.5% year-to-date compared to 18.4% for the S&P 500. On Tuesday, the shares were flat at $150.70, not far from their all-time highs.

Write to Sarah Nassauer at [email protected]

#PAID

0 notes

geeksperhour · 6 years

Text

Three essentials for effective Inventory management

Your business is on a roll. Your sales figures are on an uptrend, the customer count is growing steadily, and the profit seems to be good. Everything seems to be perfect until that point when you try to analyze how individual items in your inventory performed. This is where you’ll discover the flaws in your business. Maybe the stock count does not tally with the sales figures, or you can’t tell which variant of a particular product performed the best. Or one of your regular customers is displeased to know that you’re out of stock of her favorite item and it will take another seven days to reorder it.

Can these issues be avoided? Well, a more reliable and disciplined stock management approach always helps. This article focuses on some simple tips you can follow for more efficient inventory management.

1. Identify your items

Giving each stock item a unique identifier is very important for effective inventory management. In supply chain management, this unique identifier is known as an SKU (Stock Keeping Unit).

The two prime reasons for assigning a unique identity to your items are to track the movement of each product and to analyze each item separately. As your list of items grows, it becomes more and more difficult to differentiate amongst them just by name or description. Moreover, if you sell items in various colors or sizes or similar items obtained from different suppliers, it is essential to identify each unique variation. Here’s an example of how you can assign SKUs for the items in your stock:

Here you can see that the SKU includes each aspect of the product. It’s organized using a ‘trickle-down effect,’ moving from the broadest information to the most specific details:

It is pretty clear that SKUs make it very easy to understand which item someone is referring to just by looking at the code. This system is even more effective when it’s paired with inventory management software. Most inventory software, such as Zoho Inventory, allows the user to bundle two or more items and sell them together as a separate product on the market. You can create a new SKU for the bundled or composite item and track it, while still monitoring the constituent items separately based on their individual SKUs.

If you maintain stock in an inventory management system, there are two important rules to follow while deciding on SKU for your items:

i) KISS (Keep It Simple, Stupid)

Keep your SKUs as simple as possible. Each member of your team should be able to quickly look at an SKU and recognize the information in it. For instance, if you source items from multiple vendors, including the initials of the vendor in the SKU will make it easy to spot how many items were purchased from each vendor.

ii) Use alphanumeric codes

Special characters can make your codes confusing and difficult to remember. Use letters and numbers to represent your products’ attributes and avoid special characters like #, *, or |.

2. Keep enough stock on hand

An out-of-stock situation is a nightmare for any business, and it can arise due to poor inventory planning or a lack of inventory control measures. As your business grows, it becomes more and more important to implement controls to reduce the occurrence of out-of-stock situations. But where do you start? Here are a couple of simple formulas to help you get your stock management on track.

i) Reorder point

A reorder point acts as a trigger for your business — when the stock level for a particular item reaches the reorder point, it means that it’s time to order more items from your vendor. You can determine the reorder point based on your sales trends and lead times. If your inventory consists of many items, you should calculate and set a reorder point for each item.

So, how does a reorder point help?

a) It helps you avoid out-of-stock situations

Out-of-stock situations happen when a seller fails to pay attention to the stock levels and doesn’t place an order until it’s too late. Setting a reorder point means that the seller is always notified when it’s the right time to reorder.

b) It helps you avoid overstocking

Ordering items before you need to can lead to overstocking, which can also be hazardous for your business. Overstocking eats up a lot of your storage space and a lot of your funds. A reorder point helps you strike a balance by buying items at just the right time. This saves you storage space and money, both of which are limited resources for small businesses.

c) It helps you retain customers

If your customers notice that their favorite items are always available in your store, they’ll be more likely to continue ordering from you. Keeping your existing customers happy through good stock management is much less expensive than acquiring new customers

ii) Safety stock formula

Safety stock acts as an extra layer of padding for your inventory so you can absorb sudden shocks. If there’s a delay in your supply or an unexpected surge in demand, you can dip into your safety stock instead of losing sales.

Suppose that, for example, your bestselling item reached its reorder point three days ago. You promptly reordered it, but now you’ve been informed that there’s a delay on the supplier’s end and your items won’t arrive for another week. Under normal circumstances, you’d get new stock in plenty of time, but now you could lose up to a week’s worth of sales while you wait for the delayed shipment. This is where safety stock comes into play. By calculating your safety stock ahead of time and factoring it into your reorder point, you’ve ensured that you still have some stock to sell during the delay.

To calculate the right amount of safety stock, you need to consider your average demand, the variability of your demand, and your lead time. Here’s a tiny glimpse at how it works: Safety stock formula e-book

3. Review what you have

It’s been some time since you started your business. You have named your items and implemented your control measures, and now it’s time to move on to the next step: stocktaking.

Stocktaking is a significant part of stock management. After a certain amount of time, usually a year, you need to tally your physical stock and compare it to your inventory records. Although it sounds painful and time-consuming to sit down and count the stock manually, it is important and worthwhile. Stocktaking helps you to reconcile the stock record in your inventory management software with the actual shelf count. It helps you to identify any discrepancies and take corrective actions.

Here are answers to a few of the questions you may be asking about your next stocktaking process:

i) What to count?

Only count items that you currently own and that have been recorded in your inventory system. You might have items in your store or warehouse that have already been purchased and invoiced but haven’t shipped out yet. Or you might have a new consignment of items that have arrived in your warehouse but not yet been entered in your inventory system. In the first case, since the sale has already been made, the goods now belong to the buyer. Your inventory system isn’t counting them as part of your stock, so counting them in your stocktaking will lead to misleading numbers. In the second case, if the items have not been recorded in the system but are included in the physical counting, there will obviously be a mismatch. So it is very important to separate those items from the rest before you start counting your stock.

ii) Where to begin?

Creating a map of your store helps a lot. If you have stocked items in different areas of the store based on their type or quantity, you’ll be able to predict which section will be most time-consuming to count. That will help you allot the most experienced staff to cover those areas so that they can be completed quickly and accurately.

iii) How to value stock?

After you have reviewed your stock, you need to figure out how much it’s worth. A lot of managers make the mistake of valuing their stock based on the price they paid when purchasing it. But to get a more accurate and reliable figure, the valuation should be based on the current market price.

How is stocktaking good for your business?

a) It helps you review your stock management practices

Even if all of your records tally, stocktaking raises some important questions that you should probably be considering. Have I been stocking too much? Should I recalculate my reorder point? Or should I move my warehouse to a bigger property?

b) It helps you spot broken items and take measures to mitigate them

If you deal with fragile or perishable items, then stocktaking can be very useful for discovering how many items have been broken or spoilt while in storage. If the rate of breakage and spoilage is high, then it is vital to revisit the way you stock items in your warehouse or store.

c) It helps you plan your next course of action

Stocktaking may reveal trends that go unnoticed during regular business days. For instance, it can show that you were able to sell very few units of a particular item and now you are left with a huge overstock. To clear this stock, you can bundle the slow-selling item with a fast-selling product and offer the bundle to your customer at a discount. You’ll also know to be more cautious in the future while ordering additional units of that product.

Putting it into practice

So, we’ve covered some simple tips which can help you get started with stock management. Use SKUs to keep track of every item in your inventory, use control measures to avoid running out of stock or overstocking, and use some basic preparations to make your stocktaking more efficient. If you follow these steps, you can streamline a lot of your inventory and order management activities. Inventory management software such as Zoho Inventory can also be very helpful in making your stock management more effective. Inventory management software helps you avoid duplicate entries while selecting the SKUs for your items, gives you automatic reminders when your items reach their reorder levels, and uses barcoding to save you a lot of time during stocktaking. With good inventory software and these simple stock strategies, your business will be ready for success.

from Zoho Blog https://ift.tt/2rwycat via IFTTT

#IFTTT #Zoho Blog GPH #Geeksperhour

0 notes