Skip to main content

NETWORK BASICS

Network A system of interconnected computers and computerized peripherals such as printers is called computer network. This interconnection among computers facilitates information sharing among them. Computers may connect to each other by either wired or wireless media. A computer network consists of a collection of computers, printers and other equipment that is connected together so that they can communicate with each other.  


Network application
A Network application is any application running on one host and provides a communication to another application running on a different host, the application may use an existing application layer protocols such as: HTTP(e.g. the Browser and web server), SMTP(e.g. the email-client). And may be the application does not use any existing protocols and depends on the socket programming to communicate to another application. So the web application is a type of the network applications. 
There are lots of advantages from build up a network, but the th…

Inventory Control Covered in F11 Feature


Inventory accounting includes recording of stock details like the purchase of stock, the sale of stock, stock movement between storage locations or go-downs and providing information on stock availability. Tally.ERP 9 makes it possible to integrate the inventory and accounting systems so that the financial statements reflect the closing stock value from the Inventory system. 

The inventory system operates in much the same way as the accounting system. 

• First you set up the inventory details, which is a similar operation to creating the chart of accounts although, in this case, there are no pre-defined set of stock groups. • Second, you create the individual stock items, which is similar to setting up the ledgers. 
In a newly created company the Inventory Info. menu comprises of four types of Masters namely:  
• Stock Groups,  • Stock Items,  • Units of Measure   • Voucher Types.
 The above Inventory Masters types are explained in detailed in the following sections. 
• Units of Measure 
Let us take the example of Indus Enterprise that sells Televisions and Music Systems.  
• Units of Measure 
Let us take the example of Indus Enterprises that sells Televisions and Music Systems. 
Given below is the structure of items being sold
The televisions are sold in numbers. Hence, the Unit of Measure will be Nos. 
Indus Enterprises has two Godowns, the Bangalore Godown and the Mumbai Godown. 
The grouping structure in Tally.ERP 9 is as follows: 
Stock Group 

1. Televisions (main stock group) 

• Sony TV – stock group under Televisons 
• Philips TV – stock group under Televisons 
• Videocon TV – stock group under Televisons 

2. Music Systems (main stock group) 

• Sony Music Systems – Stock Group under Music Systems 
• Videocon Music Systems – Stock Group under Music Systems 
Under the stock group Televisions, let us create stock groups based on the different brands being sold viz. Sony, Philips and Videocon. This helps to find the total sales of a particular brand of televisions at any given point of time. In order to compare the total sales of the 29 and 25 inches televisions respectively, Tally.ERP 9's feature of Stock Categories for parallel classification can be used. Experiment Creation of Inventory Masters in Indus Enterprises. 

Stock Groups

Stock Groups are provided to help in the classification of stock items. Classification is done based on some common behaviour. Grouping stock items makes it easy to identify and report them in the statements. For example, items of a particular brand can be grouped together so that you can get the inventory details of all the items of that brand. 

Creating Stock Group - Television under Primary 
Go to the Gateway of Tally > Inventory Info. > Stock Groups > Create (under the Single Stock Group). 

Stock Categories

This is a feature, which offers a parallel classification of stock items. Like Stock Groups, Stock categories are also classified based on some similar behaviour. The advantage of using Tally.ERP 9 lies in categorising Stock items together, (based on functionality) across different stock groups. This enables you to obtain reports for alternatives or substitutes of a stock item. 

Set Yes to Maintain Stock Categories in F11: Features (F2: Inventory Features) to get an additional option Stock Categories under Inventory Info. 

Creating Stock Category 

Go to the Gateway of Tally > Inventory Info. > Stock Categories > 

Create. 

Create Stock Category 29 inches TV Under Primary 
Similarly, create Stock Category 25 inches TV under Primary. 
Godowns / Locations                                                                      

A place where stock items are stored is referred to as Godowns. You can specify where the stock items are kept. For example: A warehouse, shelf or rack etc, and obtain stock reports for each Godown and account for the movement of stock between locations/Godowns. 

• Set Yes to Maintain Multiple Godowns in F11: Features (F2: Inventory Features) to get additional option like Stock Categories under Inventory Info. 

Creating a Godown 

Go to the Gateway of Tally > Inventory Info. > Godowns > Create. 
i. Create a Godown – Bangalore under Primary. 
Ensure that the screen is displayed as shown below
Similarly create the go-down – Mumbai under Primary. 
Units of Measure 

Stock Items are mainly purchased and sold on the basis of quantity. The quantity in turn is measured by units. In such cases, it is necessary to create the Unit of Measure. The Units of Measure can either be simple or compound. Examples of simple units are: nos., metres, kilograms, pieces etc. Examples for compound units are: a box of 10 pieces etc. Create the Units of Measure before creating the Stock Items. 

Creating Units of Measure 
Go to the Gateway of Tally > Inventory Info. > Units of Measure > 

Create. 

The Unit Creation Screen appears as shown below: 

Type 

Tally.ERP 9 has the option to create simple units as well as compound units. Examples: box, nos, pcs, etc. A Compound Unit is a combination of two simple units of measure. Example: A box of 10 pcs is a compound unit of measure. 

Symbol
 
It is the abbreviated form by which a stock item is identified. For example, the abbreviation pcs indicate – pieces. 

Formal Name
  
This represents the complete or formal name of a symbol used while creating a unit. Different companies use different symbols to represent the same units. Formal names help you to match the symbols with their respective units. For example, the symbol for numbers (formal name) can be nos or num. 

Number of Decimal Places 

A unit can be expressed as fractions. For example, a 3.15 Kg refers to 3Kg and 150 grams. The number of digits expressed in grams after the decimal places are three. Likewise, fractions up to four decimal places can be expressed in the same manner. For expressing numbers, without a decimal place, specify 0 in this option.

Let us create the unit Nos.     
1. Type: Simple 
2. Symbol: Nos 
3. Formal Name: Numbers 
4. Number of Decimal Places: 0 
5. Press Y or Enter to accept the screen. 

Stock Items 

Stock items are goods that you manufacture or trade (sell and purchase). It is the primary inventory entity. Stock Items in the Inventory transactions are similar to ledgers being used in accounting transactions. Therefore, Stock Items are important in an inventory just as ledgers are important in accounting. 
Creating a Stock Item
 
Go to Gateway of Tally > Inventory Info. > Stock Items > Create.
 
Enter the following details: 
Name: The name of the stock item. 
Under: The stock group under which you want to classify the stock item. 

Category: The stock category you want to classify the stock item for parallel classification. 

Units: The unit of measure for the stock item being created. 
Rate of Duty: Enter the rate of duty charged on the item. 
Opening Balance: The opening balance of a stock item, refers to the stock available with us. Godowns that have already been created, must have the opening balance quantity and the location specified. 

Create a Stock Item Sony 29 inches TV, under the Group Sony TV. 
Practice Exercise  
                                                                          
Similarly, create the following Stock Items under Televisions 
Creating Inventory Masters for National Traders 
Before you start to create the inventory data for National Traders, there are some important functions of housekeeping that are to be taken care of. 
• Make sure your screen displays the main menu of the Gateway of Tally and ensure that only National Traders is loaded. • Set Tally.ERP 9’s Current Date to April 1, 2009 – select F2: Date at the Gateway of Tally. • You also need to check whether the following features in Tally.ERP 9 are enabled for this module. 
i. In the F11: Features (F2: Inventory Features) set Yes to: 
• Maintain Stock Categories 
• Maintain Multiple Godowns 
ii. In the F12: Configure > Accts/Inventory Info. set Yes to: 
• Allow ALIASES along with Names 
•Allow Language ALIASES along with Names 
• Allow ADVANCED entries in Masters (Accounts) 
• Use ADDRESSES for Ledger Accounts 
•Use CONTACT DETAILS for Ledger Accounts 
• Allow ADVANCED entries in Masters (Inventory) 
• Allow Std. Rates for Stock Items 

Let us now use Tally.ERP 9 to set up the basic inventory details for National Traders that sells computers, Printers and Peripherals. Create the stock groups and sub-groups as shown: 
 
 Create Stock Groups 

You will now set up the stock groups using both the single and multiple create options. 

i. Creating single stock groups 

Go to the Gateway of Tally > Inventory Info. > Stock Groups > Create. 

Create a Stock Group - Computers 
1. Name: Computers 
2. Aliases: Skip the field 
3. Under: Primary 
4. Can quantities of items be ADDED?: Yes 

5. Press Y or Enter to accept the screen. 
Similarly, create the following Stock Groups 

ii. Creating Multiple Stock Groups 
Go to the Gateway of Tally > Inventory Info. > Stock Groups > Create. 
Create Accessories and Components under Peripherals. 
Ensure that the Multi Stock Group Creation screen is displayed as shown below: 

Displaying and Altering Stock Groups 
Once created, stock groups can be displayed and altered in both the single and multiple mode. You can delete a stock group by using the option Alter under the Single Stock Group by pressing Alt+D. However, you cannot delete a stock group with sub-groups or stock items. 
The lower levels must be deleted first. 
Creating Single Stock Categories 
Creating Multiple Stock Categories 
Go to the Gateway of Tally > Inventory Info. > Stock Categories > Create. 
Displaying and Altering Stock Categories 
Once created, stock categories can be displayed and altered in single and multiple mode. You can delete a stock category via Single Stock Category > Alter by pressing Alt+D. However, you cannot delete a stock category with sub-categories. The lower levels must be deleted first. 
Creating Units of Measure 
Go to the Gateway of Tally > Inventory Info. > Units of Measure > Create 
Go to the Gateway of Tally > Inventory Info. > Stock Categories > Create
Creating Compound Units of Measure 
Go to the Gateway of Tally > Inventory Info. > Units of Measure > Create. 
1. Type: Compound (press Backspace) 
2. First Unit: Select Box 
3. Conversion: Type 100 
4. Second Unit: Select Nos 
Displaying and Altering Units of Measure 
Once created, the units of measure can be displayed and altered. You can delete a unit of measure in the alteration screen by pressing Alt+D. However, you cannot delete a unit of measure that is part of a compound measure. The compound measure must be deleted first. 
Creating Godowns            
Ensure that Maintain Multiple Godowns is set to Yes in the F11: Features (F2: Inventory Features). 
The concept of Godowns is essentially to store the inventory and can be used as a location, warehouse, department, sub-contractor locations etc. Tally.ERP 9 permits any number of godowns that can be grouped and sub-grouped to match the structure you need. 
To Create a Godown, go to the Gateway of Tally > Inventory Info. > Godowns > Create. 
1. Name: Warehouse 
2. alias: Skip the field 
3. Under: Primary 
4. Allow Storage of materials: Yes 
Similarly, create On-Site as Godown under Primary. 

1. Name: On - Site 
2. alias: Skip the field 
3. Under: Primary 
4. Allow Storage of materials: Yes 

Displaying and Altering Stock Godowns 
Once created stock Godowns can be displayed and altered in single and multiple mode. 
 
Go to the Gateway of Tally > Inventory Info. > Godowns > Alter. 
You can delete a stock Godown via Single Godown > Alter by pressing Alt+D. However, you cannot delete a stock Godown with sub-go-downs. The lower levels must be deleted first. 
Create Stock Items 

Go to the Gateway of Tally > Inventory Info. > Stock items > Create. 

Create the stock items as on 1-4-2009, with the information provided below:
 
Ensure that Allow ADVANCED entries in Masters is set to Yes in the F12: Stock Item Configuration.
 
Create the stock item HCL PIV with the following details:  Duration 

1. Name: HCL PIV 
2. alias: Skip this field 
3. Under: Computers 
4. Category: HCL 
5. Units: Nos 
6. Alter Standard Rates?: Yes 
7. Enter the details in the Standard Rate screen as shown below: 

Explanation for Behavior

• Costing Method: This is the method by which stocks are valued. The value arrived at will be the stock value in the books. This method considers Purchase costs only. 
• Market Valuation Method: This method considers the Sale price only for the valuation of stocks. The method selected, is not however, used for standard reporting. 
• Ignore Diff. due to Physical Counting?: This requires you to enter information on whether Tally.ERP 9 should automatically account for stock difference by passing an appropriate entry or not. 
• Ignore Negative Balances?: This requires you to enter information on whether Tally.ERP 9 should warn you if there is a negative balance. This however does not prevent you from entering vouchers.
 • Treat all Sales as New Manufacture?: This requires you to enter information on whether on entering a sale voucher, the item will automatically be manufactured and brought in stock. 
• Treat all Purchases as Consumed?: This requires you to enter information on whether on entering a purchase, the item is automatically issued from stock. 
• Treat all Rejections inward as Scrap?: This requires you to enter information on whether the goods rejected and taken into stock should be shown as issued and hence valued nil. 

Similarly, Create other Stock Items. 
Once you have entered all the stock items, return to the main Gateway of Tally menu and select the Stock Summary. This should show a grand total of 2,86,150, the break-up of which is, Computers - Rs. 1,55,900, Peripherals - Rs. 32,350, Printers - 97,900 = Rs. 2,86,150. 


Comments

Popular posts from this blog

What if Analysis

What-If Analysis What-If Analysis in Excel allows you to try out different values (scenarios) for formulas. The following example helps you master what-if analysis quickly and easily.  Use scenarios to consider many different variables  A scenario is a set of values that Excel saves and can substitute automatically in cells on a worksheet. You can create and save different groups of values on a worksheet and then switch to any of these new scenarios to view different results. 
Create Different Scenarios 
Note: You can simply type in a different revenue and Cost into cell B2 and B3 respectively to see the corresponding result of a scenario in cell B4. However, what-if analysis enables you to easily compare the results of different scenarios.  
I. On the Data tab, click What-If Analysis and select Scenario Manager from the list. The Scenario Manager Dialog box appears  II. Add a scenario by clicking on Add.  III. Type a name (e.g. “First Case”), select cell B2 and B3 (represents “Revenue” and “…

PROFESSIONAL ENGLISH

Asking For and Giving Opinions on Likes and Dislikes

Words Meaning Sample Sentence Opinion A statement or judgment formed about some matter. Bhoomika gave her final opinion on the company’s matter. Dialogue A conversation between two or more people. Her dialogue stated her opinion about the company’s matter. Expression The action of making known one’s thought or feelings. Her expression was sad at the meeting. Frank An open, honest, and direct speech or writing Bhoomika is very frank with her friends. Recover Return to normal state of health, mind or strength. The company’s economic crisis will be recovered soon. Turmoil A state of great disturbance. The company is facing financial turmoil. Economics The branch of knowledge concerned with the production, consumption, and transfer of wealth. Bhoomika studied Economics at the State University. Betrayed Expose to danger by treacherously giving information to an enemy.

DAILY LIFE VOCABULARY

Apology Etiquette and Office Vocabulary 

Chapter Vocabulary

Word Meaning Sample Sentence Stressed A state of any mental or emotional tension. Ram seems much stressed after his poor exam. Launch An act of instance of starting something. The government launched a new scheme for the poor people. Error A mistake Ravi found a grammatical error in his new grammar book. Scold Blaming someone for any wrong doing Bhuvan scolded his employees for their poor performance. Accuse Claiming that someone has done something wrong. Bharati accuses her friend Chaya for stealing her necklace. Fair Good and honest Ravi got promoted for doing a fair job. Ashamed Embarrassed or guilty because of one’s action. <