Why Inventory software is important?
You are able to record all kinds of inventory transactions; utilizing goods receipt notes, delivery notes, stock journals, manufacturing journals and physical stock journals. All stock movements are completely recorded and maintained in stock registers. Created for all manufacturers, distributors, wholesalers or traders, a small list of features are briefly mentioned.
When it comes to manufactures, some of the features are: bill of materials and manufacturing journals as well as to record material conversions. It compounds bill of materials support, for units that encompass assemblies. There are multiple locations (godowns) available. Excise for manufacturers, including all invoice and documentation and finally costing for jobs.
With distributors & wholesalers, you get multiple price lists with efficient dates of applicability. Utilize numerous units of measure and dual units of measure. As for trades, you get high speed billing with support for POS printers. Some of the other features include bar code support, automatic application of taxes and service billing & service tax, integrated sales return in bills and print bills and any and any other document in the customers language.
When it comes for the common features, you can choose to de-link the computer inventory value to automatically appear in your financial statements and fill in the details physically. Store ageing reports and it can detect slow and non-moving stocks. Invoice profitability reports can keep a pulse on sales. Multi-currency transactions can purchase and sell across the world with incorporated forex gain/loss calculations. Physical stock take records regulate physical vs. actual stocks. You can maintain batch and expiry details. With Tally.ERP 9, you have the choice to pick closing stock balance from stock ledger account of inventory records. If accounts are not incorporated with inventory, you can fill the closing value physically by developing Stock Ledger account. This option has a critical effect on the Balance Sheet and Profit & Loss Account. Stock records usually encompass compensating errors due to wrong allocation to items. This feature facilitates finalisation of financial books without lingering for the reconciliation of stocks.