Opening and Closing Stock in Tally

valuation of stock and accounting of stock in the books of accounts is very important and if you want to prepare a balance sheet, then without accounting opening/closing stock you can’t prepare a balance sheet.

How to enter opening in closing stock in Tally ? It is a very simple process in tally. you just need to put value of the opening stock and closing stock on a given date.

Here is a detailed guide for entering stock in tally. it is very simple.
Go to ledger creation account screen from the main menu of tally and create a new ledger namely finished Goods under the group stock in hand. my previous article about how to create a new ledger in tally will help you in this regard.

and save the screen

now alter that ledger account and press enter you will see opening stock and date just put the amount of opening stock if you don’t have any opening stock as on date then just press ENTER
now you will be prompted to enter closing stock

here you may select the date on which you wanted to put stock say as on 30th June or 30th September or any other

type the date and enter the value of stock there and save the screen its all Done.

Go to the profit and loss account and you will find opening and closing stock there. Closing stock will also be reflected in the balance sheet on the given date.

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67 Comments

  1. how to post opening stock in p&l a/c in tally

    Reply
    • Dear Mr. Yogesh,
      Thanks for your query. Please refer my post http://www.tallynine.com/tally-support-tally-nine-com.html and post your query from your Tally.ERP 9 support center. If you are not using tally.erp 9 then give us your serial number. We will not publish your serial number. it only for administrative purpose

      Reply
  2. Sir,
    How to convert the rawmaterial stock in to fabric stock

    Reply
  3. Sir,
    How do we change the opening stock date in tally 7.2?

    Reply
  4. Sir i did as you specified

    but its not reflecting in balance sheet or p&l why ?

    Reply
    • sir,

      I have entered the opening and closing stock as u tell. bt I don’t get it in b/s & p/l. plz tell me what to do

      Reply
      • Namita,
        I do not provide any support without knowing Tally serial number

        Reply
      • dear friend,
        if there nothig displayed in Proft and loss account you just try to follow the steps
        on P&L screen press F11 and in General category intergarated accounts and Inventory dispaled as yes please change as no then look out P&L

        Reply
  5. sir,

    I made the opening & closing stock entries as per your suggestion. but the entries are not displayed on the screen. What to do?

    Reply
    • I have done as your instructions. But closing stock and opening stock were not able to see on the profit & Loss account

      Reply
    • you go to ledger then alter then enter the opening stock or closing stock according to you ledger.. that can be show and it will effect you final accounts
      thanks
      vimal

      Reply
  6. sir i want to know about how to prepare a closing stock in tally. so pls give me some idea about and how to get all shortcut key of tally

    Reply
  7. sir, I have entered profit and loss account,but closing stock and opening stock amount same. so which option is missing for me. kindly told me.
    thanking you,
    ANTONY.

    Reply
    • Antony,
      Thanks for your query.
      We do provide support only to our clients. You may contact the person who supplied you the Tally software

      Reply
    • open p/l a/c after that press keys alt+f2 and enter da closing stock date
      then show yours closing & opening stock amt differents

      Reply
      • Thank u so much. I got answer only from u

        Reply
  8. hello sir,i am working in hospital there is not maintaing closing stock & opening stock so my query is that what should i do t that stock should not be disply in tally9erp. plz help

    Reply
    • Harshala,
      you may contact your TSP or the person from whom you have purchased the software. We are busy in solving queries of our own clients

      Reply
  9. how create opening balance in tally 7.2 version and how do enter sales invoice in tally

    Reply
  10. which shortcut key are use to change the method of valuation of closing stock?

    Reply
  11. how create opening balance&closing balance

    Reply
    • simple you create a ledger of opening stock under group —- stock in hand & accept this
      after that you go ladger and alter and select the opening stock ledger and fill the amt of opening stock & closing stock with their dates

      Reply
  12. how to use tally button M-EMAIL FOR MAILING TALLY P&LOSS BALANCE SHEET

    Reply
  13. sir i want to know how to feed directly closing stock in tally

    Reply
  14. sir, i want to know how to final the accounts in tally erp 9

    Reply
  15. sir am using tally erp9 in malaysia.here we are not maintaining acccounts with inventory.but if i want to put the value of opening and closing stock of raw material,finished goods and semi finished goods (wip) how to enter that without maintaining the inventory .

    Reply
  16. Sir
    I am Spliting company data for 2010-11 & 2011-12
    spliting success but 2010-11 closing Stock to be carry forward for 2011-12 opening stock but value is change why i alter the opening stock but not accectpeted when i alter the opening stock is change the value of every time plese suggest me

    thanking you

    Reply
    • Jyothi,
      Please contact your TSP (Tally Service Partner) I am sure they will assist you. In case they do not help you, please write a mail to support@tallysolutions.com

      Reply
  17. Sir, Can you tell any one how to nulliyfy the opening balance difference in the current year it is showing in balance sheet liability side

    profit and loss a/c. 32662493.79
    opening Rs. 2748.00
    current period Rs.3263501.00
    I want to nully the Rs.2748/-

    Please help me.

    Reply
    • Rangnath,
      Check your closing balance as per last year and check opening balance in Tally. It does not require that high skill or a technical knowledge to resolve it.

      Reply
  18. dearsir,

    kinldy explain the pay roll system and how to use in the tally software.

    thamks.

    Reply
  19. could u kindly tell me how do we close the closing dbalance

    Reply
  20. pls give some questions for tally practice with explanation

    Reply
  21. Hello sir,

    In one Musical Instrument product, have 3 to 4 names in bill book, as per bill book i enter the bills, but physical stock and tally stock not matching properly, how to carry physical stock in future answer me briefly

    Reply
    • first of all you can use two name each product, that is in stock u can create additional name (alternate name), with that u can use two name for each product and more over you can use that same name that will make you account clearly and you stock also match
      thank you,
      by vimal – pondicherry.

      Reply
  22. Sir

    I am using Tally ERP9 and want to maintain qty wise inventory but as per the balancesheet my closing stock is varying from tally closing stock how could i make the entry so that stock in balancesheet and tally do not vary?

    Reply
    • have you got solution of this query. Kindly let me know

      Reply
  23. Hello Sir,
    i want to ask you that how can we enter the value of closing stock if we work with inventory system.

    thanks

    Reply
  24. Dear Sir,
    We just registered as private limited. I want to know how to operate the capital a/c in tally erp9. Please treat me as most urgently.

    Thanking you

    Reply
  25. sir ,
    can please clarify my doubts regarding VAT&SERVICE TAX returns filling & data entry regarding this

    Reply
  26. Sir Iam forgot the tally i want to put opening balance for current year cash in hd + 506395 bank + 47501

    Reply
  27. hello sir..
    can u tell me that how to export sales reg.(extract) file in to excel..i try many time but its not done..please suggest me sir..

    Reply
  28. good evening sir,

    first of all thanks for helping people.

    please let me know if i can change opening date of any ledger from 1 January to 1 June.

    Reply
  29. Sir, I want to know how to enter hospital a/c in tally?

    Reply
  30. sir i want to ask that i dont feel any entry of closing stock then why in profit & loss account closing stock item, amount see please reply

    Reply
  31. how to stock maintain in tally 7.2 (textiles purpose )

    Reply
  32. I have generator power energy that energy are given to inventory that items are consider at stock as sale some stock over to hand that stock consider to banking units how us use to tally…pls give a solutions…

    Reply
  33. Sir,
    I am prepare all ledger and expenses and adjust p & l a/c but i want to know some ledgers closing amount is nill but showing p& l a/c …..pls help me

    Reply
  34. Please let me know details to be posted for opening balance for capital account for current year, what are all include in capital account for opening

    Reply
  35. after entering the purchase entry in tally 9 with stock items individually I found that the value of Inward stocks are not tally with closing stock value there are some difference also. I think this difference comes due to rates of individual stock item. How I solve this problem?

    Reply
  36. After splitting my data the closing stock amounts do not match with the original..wat can be done ? Please reply. Its urgent

    Reply
  37. If we make alteration in bom how to make corresponding changes in consumption entry.
    Also how to make tally recalculate stock balances if there are changes in closing stock.
    Sir thank you very much good pcs of knowledge here.

    Reply
  38. now i have sold all my stock
    now my stock summery is zero
    my question is that now how can i increase my stock in hand

    Reply
  39. thanks a trillion…struggled for 5 days before i hit this…thanks once more

    Reply
  40. why sr.crditors shown in Balance sheet asset side

    Reply
    • you are unders the head sundry creaditor u will check ledger.

      Reply
  41. sir,
    in my inventory the stock shown in tally erp 9 is nil but it shows a value for the nil amount. How can i remove the value for which there is no stock. It is shown in the stock summary where the item is zero but a value cost is shown for the zero item.

    Reply
  42. i am mohit aggarwal i create a accounts only company in tally erp 9 i create a ledger opening stock show the amount is 100000 rs.( dr.) but automatic closing stock in p&L show 100000 rs. but show in difference in balance sheet how to (cr.) this amount which ledger. i am asking more than person he saying this amount is transfer to capital a/c but i was see one firm start to business 500000 capital the owners is mohd. safeeiq ledger is show only 500000,not show to stock value.how to show this amount balancing.piz reply me.????????

    Reply
  43. sir how to find the value of closing stock but how to possible calculate the without gross profit I’m apply formula opening stocks+purchase+gross profit-sales but without calculate closing stock show in gross profit.how this possible..gross profit show in after less (Dr) side

    Reply
  44. I am b.com graduate, i done tally but not experienced in Tally. shall i get good job in tally. Otherwise again i vl do tally ERP 9. suggest me.

    Reply
  45. I am b.com graduate, i done tally but not experienced in Tally. shall i get good job in tally. Otherwise again i vl do tally ERP 9. suggest me. I want payrol,,cost, TDS,ESI,PFsales, Bank reconcilation.

    Reply
  46. sir I followed the steps as mentioned above to show the closing stock and opening stock at different values but its effect is not reflecting in P&L A/C. I even changed the integrated accounts and inventory option to “no” even then it did not work.

    Reply
  47. Thnks for helping ..very helpful articles …

    Reply
  48. can any one tell me how to see comparative profit & loss accounts in tally 7.2 for 2 subsequent years????

    Reply
    • Hello Aslam,

      Tally 7.2 is a dead product so nothing is possible

      Reply
  49. Sir

    Please tell me the staff salary entry in tally erp 9 and pls tell me the all head of salary a/c and witch ledger under witch group

    Reply
    • It needs a lot of one time settings. Please follow some settings are available in the tutorials

      Reply

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