What is Stock Groups?
Stock Groups is nothing but a grouping of stock items. It enables in the classification of stock items. It can be grouped based on its product type, brand name, common features, etc.
Grouping of stock items is not mandatory in TallyPrime. Suppose you had created stock items without creating a stock group, it will consider all stock items under an internal group i.e. “Primary Group”.
Examples of Stock Groups
For example your business deals in Mobile and computer devices then you group it as per your need:
Mobile Stock Group consists of following items:
- Samsung Galaxy M31
- Samsung Galaxy M31s
- Samsung Galaxy A71 etc.
Similarly you can add stock item as you required.
Computer Stock Group Consists of the following:
- Lenovo IdeaCentre AIO 330 19.5-inch All-in-One Desktop
- Lenovo IdeaCentre AIO 3 21.5-inch Full HD All in One Desktop
- Lenovo Ideacentre A340 23.8-inch Full HD IPS All in One Desktop
Similarly you can add stock item as you required.
Let’s Create Stock Group With Practical Examples
Creating stock groups and stock items is super flexible now in TallyPrime. You can create stock groups form any screen using “Go To”
Tech Life is a company that indulges in the trading business of computer parts and music systems. Many times they may want to know how many stock items of computer parts and music systems are available for sale.
For Tech Life,
We will create two groups one computer Parts and second Music System under that create subgroups as shown below:
Create Stock Group from Gateway of Tally:
Launch TallyPrime
From the gateway of TallyPrime press “C” or click on create, master creation screen will be visible after that search for “Stock Group” click on that.
After that “Stock Group Creation” screen will appear, under the Name type “Computer Parts” press enter, since this is the main stock group we will select it as “Primary”. Press “CTRL + A” to save it.
Similarly, create a second stock group under the name type “Music System” and press “CTRL+ A” to save it.
Two stock groups have been created, From the same screen now we will create subgroups
Under the stock group computer Parts create two sub group:
- LCD Monitor
- Processors
From the same screen, in the “Stock Group Creation” type name “LCD Monitor”, In under select list of Groups “Computer Parts” press “CTRL + A” to save it.
Similarly create second subgroup “Processors” and save it.
Similarly create two subgroup of stocks under “Music System”.
Create Stock Item’s
From the “Stock Group Creation” screen press “F10” i.e. for the creation of “Other Masters”. Master creation screen will be visible from there select “Stock Item” from the list.
Type the name of the stock item “Dell 24 Inch Full HD Monitor”, this is where you can group your stock items under the stock group as we created above.
We will select here “LCD Monitors”. After that, we will create a unit of measure. Press “Alt + C” or select create from the list. Since LCD Monitors are measured in numbers give the symbol name “Nos” and formal name as “Number” press “CTRL + A” to save it.
Similarly, create other stock items, name it as “Intel Core i5-10400 Processor (12M Cache, up to 4.30 GHz)”. Select the stock group “Processors” and for Units select “Nos” from the list as we created for the first stock item.
In the same way, create stock items for the stock group “Music System”. If you face any issues while creating stock groups, subgroups, and stock items then please do write your query below in the comment box.
