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how to track cost for stock item in Tally| stock cost tracking

Stock Cost Tracking for stock item in Tally is now possible with Release 3.0.

Generally Cost tracking is used by companies engaged into manufacturing activities however it is also useful for non manufacturing companies to track costings of various items the company deals into.

 

Cost tracking for various expenses per item is a management reporting system which help management to decide the profitability of an item. It helps in a better decision-making process for inventory management Release 3 of Tally.erp 9 help you in the set up

The steps to follow in Tally.erp 9 to track cost per item for each ledger is as under :

 

ENABLING  STOCK COST TRACKING

 

Go to Main Menu of Tally than go to configuration page e.g. F11

Press F11

Select Inventory Option(F2)

Enable stock cost tracking to yes and accept the Screen

 

 

inventory cost tracking option in Tally
image-2263

 

Now you need to set up item master for stock cost tracking.

Go to create a new item master or alter an existing item master

SET UP ITEM MASTER FOR stock cost tracking

 

Once you select the item group, you will find a new option as shown in the below screen “Enable cost tracking ? set it to yes and accept the screen.

 

Do it for each item for which you want to track cost.This is a one time set up for every item

inventory item master
image-2264

Now, you need to set up each ledger cost which is related to item production/cost.

go to create a new expenses or alter an existing ledger say production salary

SETTING UP COST LEDGER FOR stock cost tracking

Here you will find a new option allocation for stock item ? set it to yes and it’s all now you are ready with the necessary steps


cost tracking for ledger in Tally.erp 9
image-2265

If you face any problem than revert back to us along with your Tally serial  number or you can join our premium support forum

 

About the Author

Mahendra is founder and CEO of the I Vision Infotech, Authorised Tally Sales and Service Partner and helping Tally users to learn Tally and accounting free through this site

Leave a Reply 4 comments

Jai - 5 years ago Reply

Hi sir,
in this cost tracking the Items are same but the rates are different to each customers while we putting the invoice is this possible to track the rate of the individual customers……

kishore - 5 years ago Reply

hi sir,
when we use costcenters,i can see the amuont of differnt costcenters but what is the option to see how much quantity moved from diffrent costcenters

user99 - 4 years ago Reply

How I pass entries for mobile recharge vouchers?
 
At the time of Purchase company gives 5% to us . for eg. Purchase 100000/-  company gives 105000/-
 
& At the time of Sales we paid 3% to retailers . for eg. Sales -100000/- we paid to retailers 103000/-
 
please help me.
thanks in advance.

nayeem kouser - 4 years ago Reply

In Tally how to how to convert uganda shilling to Euro and to USD

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