Stock in transit treatment

Pranjal (Student CA IPC / IPCC) (531 Points)

21 February 2015  
We are a car dealer of Hyundai cars maintaing our accounts in Tally ERP9. We have made groups of various types of cars such Verna under multi group stock option keeping the variants under each group.But at present facing problems in knowing the amount of stock in transit while placing orders.As such we are not being able to know as to how much funds is being blocked.Kindly guide how to treat stock in transit while placing order with the vendor. As stock in transit is to be maintain under current assets please suggest how we can show the car variants under stock in transit again.