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Recording Manufacture of Finished Goods (Excise for Manufacturer)

Recording Manufacture of Finished Goods (Excise for Manufacturer)

When goods are manufactured, the same can be brought into the books as finished goods by recording a manufacturing journal.

 

Create Stock Item and BOM

To create the stock item (finished goods)

  1. Gateway of Tally > Create > type or select Stock Item
    Alternatively, press Alt+G (Go To) > Create Master > type or select Stock Item
  2. Press F12 (Configure) and set the option Set Component List (Bill of Materials) in Stock Items.
  3. Enter the Name of the stock item.
  4. Select the required stock group in the field Under.
  5. Select the required unit of measure in the Units field.
  6. Enable the option Set Components (BOM).
  7. Enter the BOM Name as Spectacles.
  8. Press Enter.
  9. Enter components for the stock item as shown below:
  10. Select Applicable in the field Is Excise Applicable. The Excise Details screen with all the tariff details appear as shown below: 
  11. Select the Type of stock item as Finished Goods.
  12. Enter the Conversion factor as 1 No=1 U.
  13. Press Enter.
  14. Select Applicable in the field Is VAT Applicable, if required.
  15. Press Enter.
  16. Press Enter to save.

 

Record a Manufacturing Journal

  1. Gateway of Tally > Vouchers > press F10 (Other Vouchers) > type or select Stock Journal.
    Alternatively, press Alt+G (Go To) > Create Voucher > press F10 (Other Vouchers) > type or select Stock Journal.
  2. Press Ctrl+H (Change Mode) > type or select Use for Manufacturing Journal.
  3. Select the Tax Unit.
  4. Enter details as shown below:
  5. Press Enter to save.

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