Tally ERP offers Batch-Wise and Expiry Date Management features to help businesses, particularly those in industries like pharmaceuticals, food, and manufacturing, effectively track inventory based on specific batches and expiration dates. These features improve inventory accuracy, support regulatory compliance, and reduce wastage by allowing businesses to manage perishable or batch-sensitive products.
1. Enabling Batch-Wise and Expiry Date Management in Tally ERP
To activate batch-wise and expiry date management, follow these steps:
- Go to Gateway of Tally > F11: Features > Inventory Features.
- Enable Maintain Batch-Wise Details under the Inventory section.
- Enable Expiry Date Management if applicable.
Once activated, you can specify batch details, manufacturing dates, and expiration dates for each stock item, which helps in detailed tracking and managing stock levels.
2. Benefits of Batch-Wise and Expiry Date Management
- Efficient Inventory Tracking: Each batch has unique information, enabling businesses to track specific product lots and identify stock movement precisely.
- Reduces Wastage: With expiry date management, Tally ERP alerts users of approaching expiration dates, enabling timely sales or disposal of perishable goods.
- Improved Compliance: Many regulatory requirements, especially in food and pharma, mandate batch tracking and expiry dates. Tally ERP helps businesses comply with these standards.
- Enhanced Quality Control: Batch management allows users to isolate and track defective batches, facilitating easier recalls and quality management.
3. Managing Inventory with Batches and Expiry Dates
Once batch-wise and expiry date features are enabled, you can add batch details during inventory entry:
- Creating Batches for Stock Items: When entering stock items, you can assign each item to a batch, adding details like batch number, manufacturing date, and expiry date.
- Recording Transactions: For each sales and purchase transaction involving batch-tracked items, Tally ERP will prompt you to specify the batch number, ensuring accurate tracking.
4. Practical Applications in Inventory Management
- FIFO (First-In-First-Out) Approach: By monitoring expiry dates, Tally ERP helps businesses follow FIFO, ensuring that older stock is sold or used first, reducing wastage from expired products.
- Batch-Wise Sales and Purchase Reports: Tally ERP offers reports specific to batch details, showing quantities available per batch, stock values, and items approaching expiry. These reports support inventory planning and sales strategies.
- Auto Alerts for Expiring Stock: Tally ERP can generate notifications for items nearing their expiry dates, enabling businesses to apply discounts or prioritize their sale.
5. Sample Setup in Tally ERP
Suppose a pharmaceutical company stocks medicines that need batch and expiry tracking.
- Define Stock Item: When creating a stock item, such as “Vitamin C Tablets,” enable batch-wise tracking and set expiration details.
- Assign Batches: Each procurement of tablets gets a unique batch number with its manufacturing and expiry dates.
- Sales Process: During sales, the company selects stock based on expiry dates, ensuring compliance with FIFO.
Reports for Batch-Wise and Expiry Management
Tally ERP offers specialized reports for batch and expiry management:
- Batch-Wise Stock Report: Displays available stock categorized by batch, showing quantities, expiration dates, and stock value.
- Expiry Date Report: Highlights items nearing expiry to aid in sales prioritization and minimize wastage.
Conclusion
Batch-wise and expiry date management in Tally ERP helps businesses streamline inventory tracking, manage perishable goods, and comply with industry regulations. By reducing inventory wastage and enhancing control over stock movements, Tally ERP’s advanced inventory features ensure businesses can operate efficiently and effectively.
