Inventory Vouchers perform the same function in the inventory system just as accounting vouchers do in the accounting system. Inventory Vouchers are also means of entering transactions. Inventory vouchers record the receipt and issue of goods/stock, the transfer of stock between locations and physical stock adjustments.
If you have not integrated accounts with inventory, inventory vouchers will not have any impact on the Balance Sheet stock figures. They will maintain the stock balances separately.
To view Inventory Vouchers:
Go to Gateway of Tally > Inventory Vouchers
Configuration on Tally
Set the option Integrate Accounts and Inventory to Yes in F11: Features.
You can trace an entire transaction from the beginning i.e., goods transfer stage to the financial accounting irrespective of integration status.
For example, the purchase of stock can be tracked from the purchase voucher through the receipt note, through invoice from the supplier and also through eventual payment.
More:
How to enter pure Inventory Vouchers