Stock Items and Stock Groups in Tally are very much important for maintaining stocks in Tally.

It is very efficient and effective way to calculate all major aspects of stocks in any kind of business.

Tally helps with some of the awesome features about stocks like:

  • Quantity
  • Rate
  • Value
  • Consumption
  • Gross Profit
  • Gross Profit (%)
  • Opening Balance
  • Closing Balance
  • Stock Valuation methods such as FIFO, LIFO, Average Price and many more

These details are very helpful for a business to make good decisions.

If you want to master Tally, creating stock items and stock groups is one of the important functions of Tally.

As the name suggests, a stock item is a single item of your stock.

For example, if you have an electronics business, following can be your stock items:

  • Mobile
  • Earphones
  • Mobile Covers
  • Screen Guards
  • Micro SD Cards
  • Chargers
  • Charging Cables

And many more things which you have in stock in your shop.

So, let’s say, you have some of the below things in your shop right now.

  • 25 Mobiles
  • 50 Earphones
  • 55 Screen Guards

Then, it can be said that your stock consists of total (25+50+55) 130 numbers of items in stock.

If you have any other business, you can create simple stock items and manage your stock efficiently in Tally.

Now, let’s see you how you can create stock items in Tally.

In this example, I will be creating 3 different stock items listed above.

So, that would be

  • 25 Mobiles
  • 50 Earphones
  • 55 Screen Guards

It is very much easy and simple to create all 3 of them in less than a minute if you know how to create them.

As we already have a balance of units, I will also add Opening Balance while creating the stock items.

Take a look at the following pictures and create a stock item exactly the same way with all the same configurations.

From Gateway of Tally,

  • Go to Inventory Info.
  • Then, go to Stock Items
  • Then, select Create under Single Stock Item

Now, see the picture below and create the stock item for 25 Mobiles for ₹15,000 per unit.

Creating a Stock Item in Tally

Creating a Stock Item in Tally

Likewise, create stock items for 50 Earphones for ₹400 per unit and 55 Screen Guards for ₹200 per unit as shown in the picture.

Creating a Stock Item in Tally - Earphones

Creating a Stock Item in Tally – Earphones

Creating a Stock Item in Tally - Screen Guards

Creating a Stock Item in Tally – Screen Guards

Did you see noticed the Units option while creating Stock Items?

That is the Units of Measure which I have discussed at the end of this post.

This is how you can create Stock Items and Stock Groups you will learn in a few minutes in Tally.

It is very easy and simple to do so.

Now let’s create Stock Groups.

Creating Stock Groups in Tally

Stock Groups in Tally further divides stocks in different groups for better understanding of stocks.

This will give us a much better look and understanding of stock items and stock groups in Tally.

Even in the future if we look at the stock items and stock groups in Tally, we will know the differentiation easily.

Let’s take the current example.

We have created 3 different Stock Items which are:

  • Mobile
  • Earphone
  • Screen Guard

So, if we want to group the above stock items, they will be like this.

Mobile will come under a Group called Mobiles.

Earphones and Screen Guards will come under another Group called Accessories.

By doing it this way, it will be easy for anyone to search the item easily.

You will also have a good understanding of different types of stocks you have on the basis of Grouping.

Currently, we have all the items under same Stock group called primary.

Primary is pre-defined Stock Group in Tally.

Now, what we will do is create 2 groups which are Mobiles and Accessories.

Then, we will alter the stock items and assign them proper groups instead of just primary.

Let’s do this.

Creating Stock Groups in Tally

From Gateway of Tally,

  • Go to Inventory Info.
  • Then, go to Stock Groups
  • Then, select Create under Single Stock Group

Then create 2 stock groups as shown in the pictures below.

Creating a Stock Group in Tally - Accessories

Creating a Stock Group in Tally – Accessories

Creating a Stock Group in Tally - Mobiles

Creating a Stock Group in Tally – Mobiles

Now, as we have created two different stock groups, you have to do one last thing.

And that is to alter the stock items and assign them the groups so we can form combination of stock items and stock groups in Tally.

So, again:

From Gateway of Tally,

  • Go to Inventory Info.
  • Then, go to Stock Items
  • Then, select Alter under Single Stock Item

Then select Mobile once again from the list.

This time going through the screen, select Mobiles for Under option as shown in the picture below.

Altering Stock Items in Tally

Altering Stock Items in Tally – Mobile

In the same way, alter Earphones and Screen Guards and in them select Accessories for the option Under.

Altering Stock Items in Tally - Earphones

Altering Stock Items in Tally – Earphones

We have grouped the stock items and now it is very easy to find different stock items with the help of groups.

This is the best way to use Stock Items and Stock Groups in Tally.

The reason, I have made you alter the stock items for grouping because I want you to learn how to alter a stock item also.

So, that will be a bonus learning for you.

Creating Units of Measure in Tally

Almost every business has stocks and stocks have units.

Let me explain it to you in a simple way.

For example, you are in a business of electronics and you sell mobiles, accessories, gadgets etc.

Your stock items would be mobiles, accessories, gadgets etc.

And your unit of measure will be numbers.

You say, I have a stock of 25 mobiles and 25 is a number.

If you are in dairy business which sells milk and other milk products.

In this case, you will say I have a stock of 30 liters of milk today and the unit of measure is liter.

In Tally, you can create different units of measure with whatever name you want. 

So, if your business is somewhat different, then don’t worry at all. You can do all of that in Tally.

To create a unit of measure in Tally, you need to follow the steps, I’m telling you right now.

First of all, from Gateway of Tally,

  • Go to Inventory Info.
  • Then, go to Units of Measure
  • Then, select Create

Create Unit of Measure (No – Numbers) as shown in the picture below.

Creating Units of Measure in Tally

Creating Units of Measure in Tally

Want to know what Number of decimal places mean, watch the video. But, put it to 2.

This unit of measure will be used while creating stock items.

In short we attach Stock Groups and Stock Items and have units for the stocks in Tally vi Units of Measure in Tally.

Stock Items and Stock Groups in Tally

A Quick Exercise for you

From Gateway of Tally, go to Stock Summary and comment down below what you see.

This was the creation part and check out this post to know how to use Stock Items and Stock Groups in Tally.