valuation of stock and accounting of stock in the books of accounts is very important and if you want to prepare a balance sheet, then without accounting opening/closing stock you can’t prepare a balance sheet.
How to enter opening in closing stock in Tally ? It is a very simple process in tally. you just need to put value of the opening stock and closing stock on a given date.
Here is a detailed guide for entering stock in tally. it is very simple.
Go to ledger creation account screen from the main menu of tally and create a new ledger namely finished Goods under the group stock in hand. my previous article about how to create a new ledger in tally will help you in this regard.
and save the screen
now alter that ledger account and press enter you will see opening stock and date just put the amount of opening stock if you don’t have any opening stock as on date then just press ENTER
now you will be prompted to enter closing stock
here you may select the date on which you wanted to put stock say as on 30th June or 30th September or any other
type the date and enter the value of stock there and save the screen its all Done.
Go to the profit and loss account and you will find opening and closing stock there. Closing stock will also be reflected in the balance sheet on the given date.