Managing your inventory and financial operations is made easy and effective by importing stock with GST from Excel to Tally. With Tally’s ability to import data from Excel, managing your business and keeping precise financial records is simple. We will walk through the process of importing stock with GST from Excel to Tally in this blog post.
Step 1: Prepare the Excel sheet
The Excel document containing the stock data must first be prepared. The columns on the sheet should be as follows:
- Date: The day the transaction took place.
- The correct setting for this field is “Purchase.”
- Party Name: The vendor’s or supplier’s name
- Stock Item: The brand of the item you bought
- Quantity: The number of goods bought
- Rate: The price per unit.
- Amount: The full price of the item.
- GST Rate: The applicable GST rate for the product
- GST Amount: The amount of GST that applies to the item.
Step 2: Save the Excel sheet in CSV format
Save the completed Excel sheet as a CSV file (Comma-Separated Values). Tally supports this format, which makes it simple to import the data. The Excel sheet can be saved in CSV format by choosing “Save As” from the “File” menu. Choose “CSV (Comma delimited)” from the dropdown menu under “Save as type”. Give the file a name, then store it in a location that is simple to find.
Step 3: Import the CSV file into Tally
Open Tally and select “Gateway of Tally” > “Inventory Info” > “Import” > “Purchase Vouchers” to import the CSV file. Click the “Import” option after selecting the CSV file you saved in step 2. Tally will now import the stock with GST data from the Excel sheet into Tally.
Step 4: Verify the imported data
When the import is finished, Tally will show the message “Import Complete.” To check the accuracy of the imported data, visit Tally’s “Purchases” ledger. A “Purchase Register” report can also be created to compare the imported merchandise with GST information.
Step 5: Save the imported stock with GST data in Tally
Once the imported data has been confirmed, save the entries in Tally by clicking “Ctrl + A” and then choosing “Accept.”
In conclusion, managing your inventory and financial operations is made simple and effective by importing stock with GST from Excel to Tally. You can quickly integrate your merchandise into Tally with GST data by following the instructions in this blog and begin managing
In conclusion, managing your inventory and financial operations is made simple and effective by importing stock with GST from Excel to Tally. You may quickly import your goods into Tally with GST data by following the instructions in this blog, which will help you start handling your finances more effectively. Additionally, Tally automatically calculates the GST on the imported data, ensuring that your financial records are accurate and up-to-date.
Get a FREE Demo of Excel to Tally Software