- HOME INVENTORY SPREADSHEET GOOGLE DOCS UPDATE
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This also conveniently circumvents issues surrounding not ordering products because you don’t know which ones you need to order.
If you use a subtraction formula (=B1-B2) when you input how many items you sold, it will automatically deduct that number from your current stock number, which you can then use to sort based on stock, so that you can see which items you have the least of. Not surprisingly, the sort function will be incorrect if any of your data is entered incorrectly. Sort allows you to order your inventory by number size, or by color, so that you can see products based on sales, profitability, or remaining stock to quickly and easily go through products.
HOME INVENTORY SPREADSHEET GOOGLE DOCS UPDATE
For example, if your products are worth $27 each and your in-stock number is 65, the SUM function would automatically update the 'inventory value' section to $1,755 (65 x $27). Keep in mind, though, that if you have 300 lines, you will have to add it to each one. This is very useful for creating automatic value totals for the products in your inventory. This can also work out to of of Column]] to simply multiply any two cells in a row. This removes the need to go over each line with a calculator every night.Ī SUM formula is written as =Cell*Cell. For example, you can create a running sales quantity using the SUM function to automatically update how much revenue you've earned by doing math based on calculations you put in per line. The SUM function can be used to add any figures that you put into two or more cells. While they may seem a little complex at first, don’t worry most of them are easy to get the hang of.
HOME INVENTORY SPREADSHEET GOOGLE DOCS FREE
You can modify Microsoft's basic free template (available when you open Excel) to your needs, purchase a template, or create your own.įormulas can increase the value of your Excel spreadsheet while reducing the headache and stress involved with calculating numbers. You can then use Excel formulas to automatically calculate information for total sales, total profit, and organize your inventory based on products that sell the most using a few simple formulas.
HOME INVENTORY SPREADSHEET GOOGLE DOCS DOWNLOAD
If you would like to gain a deeper understanding of crucial inventory management techniques and how you can apply them to your business, download our free eBook: Inventory Management: Everything you need to know. Time to reorder, whether or not the product has been discontinued, total inventory value, and other functions are also very useful, but the more columns you have, the more difficult it is to keep up with everything. Setting up your Excel inventory list templateĪ basic template for your Excel inventory should include the product number, product name, item description, item price, item cost or value, item stock, quantity to reorder, and, if you want to update sales quantity or value, quantity sold. While it is easy to make mistakes in Excel (and avoiding them will require time-consuming auditing, proper organization, and strict management), it is fully capable of handling a startup businesses inventory. Like anything that’s free or cheap, Excel isn’t perfect inventory management, but it has plenty of valuable features. While not ideal for a medium or large sized inventory, Excel is cost-effective or, if you use it in OneDrive, even free. With integrated tools, features, and formulas to make spreadsheets more dynamic and interactive, Excel is also capable of handling basic inventory management for small businesses. It’s a program that most of us are already familiar with, whether for accounting or spreadsheet forms, and it is an alternative option for applications like inventory management. If you’re looking for a low-cost way to manage your inventory, Excel could be a good solution. We've made it easy for you to get started managing your inventory in Excel or Google Sheets with this free inventory spreadsheet.ĭownload now! Using Excel as a low-cost inventory management solution Download your Free Inventory Spreadsheet!
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