November 16, 2018
In majority of organizations today, important tasks like generating sales order, creating invoices or making business reports are performed by automated systems. Third-party software’s like ERP, CRM or DMS are used to automate various processes in different departments like Sales, Inventory, Operations, etc. Tally being the backbone for any finance related data entry, most companies use Tally Integration software to ensure seamless export and import of their business data from these third party/ external applications to Tally and vice-versa. In this blog artcile, we will discuss how you can simplify the Inventory Management with Tally integration.
Tally is an accounting, inventory, taxation and payroll software. It can help a business with accounting solutions, financial and inventory management, sales and purchase management, invoicing, reporting and MIS. Relevant data like inventory records, financial transactions, creditors and debtors list, sales records and even taxation details are saved in a company’s Tally data. Integrating third party applications with the Tally allows organizations to optimize their sales or procurement cycles, manage inventories and many more as they can access almost real time data across platforms/ software’s.
EasyReports comes with out-of-the-box Tally Integration capabilities. Users can import masters, transactions and stock lists in a minimal time. One of the biggest advantages of Tally software is its ability to adapt to specific industry needs through customization. With Tally Integration capabilities, users can even import their Tally Customization into other programs. One very important aspect of running a business is inventory management. Companies that use some external software for inventory management can use their Tally customization fields to better evaluate their stock lists.
Integrating the inventory software with Tally can help a business in the following ways:
Monitor stock items
Inventory management software enables organizations to organize their stocks more efficiently. By integrating it with Tally, users can import all inventory data, including stock groups, stock sub-groups, and product stock categories. They can enter new stock items under a specific warehouse address and view stocks across multiple warehouses through Tally reports. This helps them determine which warehouse should supply the next batch of stock. They can also maintain inventory goods batch-wise, making it easier to monitor expiry dates for each batch.
Multiple units of measurement
A large part of inventory management is to do with purchasing stock items from different vendors. These stocks are bought on the basis of quantity, and quantity is measured in units. By integrating with Tally, the software can create multiple units of measurements for effective inventory management. Items can be stored under different units of measurement like dozen, carton, kilogram, litre, etc. The same stock item can even be stored under multiple units of measurement. Example, a wholesaler might purchase plastic bottles in kilograms cost, but they sell it in packs of a dozen.
Stock movement records
Tally software is very systematic when it comes to keeping a record of all inventory transactions. It keeps detailed records via Goods Receipt Notes, Delivery Notes, Stock Transfer Journals, Manufacturing Journals as well as Physical Stock Journals. All stock movements are fully recorded and maintained in Stock Registers. Inventory management software with Tally Integration can only benefit from being able to import all these comprehensive stock records.
Movement Analysis
The Movement Analysis report in Tally helps organizations identify product suppliers and consumers. It shows the procurement and selling rates of a product, allowing users to analyze each item and determine the optimal rates for both purchasing and selling. However, users can only access this key benefit when they integrate their inventory software with Tally.
Ageing Analysis
Tally prepares the stock aging analysis to ensure organizations do not acquire new stock items before using up old stock. The Aging Analysis report displays the age of available stock and classifies the entire inventory based on age. These Tally reports enable inventory software to identify slow-moving items and prevent the re-ordering of unused goods with new inventory
EasyReports Tally Integration provides ready integration for masters and transactions using time tested tools. It has been a provider of integration services to Asia’s largest consulting company for their own ERP product – an example of the stability and feature of its capabilities.
Using the integration platform provided by EasyReports you can integrate the following types of applications with Tally:
- ERPs
- CRMs
- E-Commerce engines such as e-Bay, Shopify, Amazon, Flipkart, SnapDeal, WooCommerce, etc.
- Dealer Management Systems such as Unilever, Castrol, CEAT, Amul, Marico, etc.
- Custom built solutions
To know more about the various benefits of EasyReports Tally integration services, log on to http://www.easyreports.in/tally%20integration/