Products are used in Sales Types (which can be thought of as categories of products).  Unlike Sales Types, however, they can’t be set to have any individual self-assessment settings or nominal settings – instead this is managed at the Sales Type level.

  • Sales Type = White T-Shirt, classed as turnover and to be included in Box 8 of the VAT return.
  • Product 1 = Size Small, £10.
  • Product 2 = Size Medium, £11.
  • Product 3 = Size Large, £12.

Adding a Product

A product must be added within a Sales Type.  Access a Sales Type by going to Sales > Sales Types > Select the Sales Type.  Within the Products & Services section at the bottom, click the Add a Product/Service button.

  • Product Name – This is the name of the product and will appear on your reports.
  • Product Code – This is an internal product code for the product, it will not be shown on the invoice.
  • Sales Type – This is the sales type that this product should be classed in.  By default the sales type that you just selected is populated, although can be changed by using the drop down box.
  • Manage Stock Levels – This box required stock management to be enabled by going to Settings > Stock Options > Enable Stock Management.  Tick this box to have Tally automatically manage the stock levels for you, for detailed information on this please see the Stock Management & Control guidance.  A summary of the options that area revealed when is listed below:
    • Quantity In Stock – This is the amount of stock you currently hold for this item.
    • Alert me if quantity drops below – If this option is selected you will see the stock status in the sales type dropdown when including this as a line item on the invoice.
      • Green – Above the limit that has been set.
      • Orange – Below the limit that has been set.
      • Red – None in stock.
  • Increment stock levels on purchase – Use this option to have Tally automatically increase the amount of available stock when you raise a receipt with a linked outgoing type.  If you don’t have an outgoing type and sub-outgoing type set up you can leave the options set to ‘Create One for Me’.
  • Auto-enter details – Tick this box to have Tally automatically enter a price, VAT rate and/or line item description that will appear on the invoice.
    • Price – This is the amount excluding VAT that this item costs.
    • VAT rate – If you’ve got VAT this is the rate of VAT to apply to this item.
    • Description – This is the line item description for the item and will appear on the invoice.
    • Default product – Tick this box to have Tally automatically select this product when the Sales Type that contains it is selected when adding a line item to the invoice.

When you’re ready click the Update button.

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