Excel Spreadsheet Templates For Inventory Tracking

Summary

Excel spreadsheet templates for inventory tracking
How to create a spreadsheet in excel for inventory. How to create a spreadsheet to track inventory

The main problem with the above function is that you have to manually enter all of your incoming and outgoing products. When you have a large number of products, several people entering values, or a busy day, errors happen. For that reason, a barcode scanner is a useful tool for tracking inventory with Excel. Most USB and wireless barcode
scanners are easy to program to integrate directly into Excel, and you can do so on separate lines or updating a single line. Programming for barcode scanners varies slightly by brand. The standard function for a scanner is to press “Enter” or “Tab” after adding information to a cell. This means that it will add each newly scanned item to the next row
or the next column. You can program it differently, usually by finding a scan code for changing the function, but we’ll go over a relatively easy way to program using the original multiple line code. Each time you scan a code, it automatically inputs the item’s SKU into your Excel document. Keep in mind that unless you assign additional values to the
barcode scanner, it won’t put in other items such as value, product description, etc. You can most likely program this fairly easily using your barcode scanner codes, but this will differ depending on your software. You can use the SUMIF function to calculate running totals for the same item on different lines: =SUMIF (C5:C7,ES25,D5,D5:D7)
Translated into plainer language: =SUMIF (Cell Range (usually all the way down the page), SKU To Look For (in this case, ES25), Sales To Add Up). For products remaining, you use the same SUM function used to calculate sales in the previous model. The best practice is to set the document up with your original SKUs on the top, with your current
totals, and use the most right bars for sold and remaining items. You could put them at the bottom, but you’ll end up having to scroll anyway. You can also use a macro function to grab your data and move it to a separate page. The barcode scanner will enter items on the bottom of the sheet, but you will immediately see running totals on the top. If
you use two different barcode scanners, you can use the same computer for both incoming and outgoing inventory; you just have to program the scanner to add to the “current stock column,” rather than the “sales column.” This allows you to quickly and easily update your running totals, whether you’re getting shipments or making sales. 3. Make
your Excel tracker accessible in the Cloud One of the main limitations of Excel is that there isn't really a feasible way for multiple people to add to the same document at once. While you can solve this with multiple Excel documents, today’s technology presents another solution: the cloud. Microsoft has its own cloud solution with Office 365, but you
can also use in Google Drive or some other free online solutions. Office 365 allows for multiple users, real-time updates, live backup, and several users editing the same document at once. A cloud inventory management system is especially useful if the inventory sheet is updated by multiple people or from multiple devices. The most valuable function
is automatic synchronization. Plus, if you download a copy of Microsoft's OneDrive to your computer, you can keep a backup copy directly on your hard drive to ensure access in case of an Internet outage. 4. Generate inventory tracker reports Inventory tracker reports and analysis charts are relatively easy to generate, providing you are diligent
about inventory tracking. You can choose to create reports on a daily, weekly, bi-weekly, or monthly basis, as well as create quarterly and yearly reports. Set up your basic parameters for inventory and then dragging and dropping the sheet to a new Excel workbook. This automatically copies all of your work to the new one, which gives you a clean
inventory page for each day, week, month, or however long you choose to keep records. You can also drag and drop all of your monthly records into one file to set up a yearly inventory, with individual sheets per month for easy organization. 5. Create running inventory totals For smaller businesses, or those with only a few large ticket items to keep
track of, single inventory pages are the most convenient, because they allow you to allocate one page to each product. For larger businesses, or those with more products, you can create a running inventory for sales, profits, and products. The simplest example is deducting sales from your original stock figure: =SUM(D8-E8), replacing the D8 and E8
with specific cell locations that you want to subtract from each other. Create an original stock line and use that to deduct your sales from. This gives you an instant total that updates whenever you change the number in either cell. You can update the cell using either a manually entered number or using a scanner. Don’t forget you can use Autofill to
populate cells using the same formula. Select the cells that contain the data that you want to fill into adjacent cells, then drag the fill handle across the cells. This will stop you from having to repeat the formula in multiple boxes for multiple products. If you want to keep better track of a few large ticket items, you might want to use individual sheets
per item, which uses the same functions, except you set up one sheet per item and set your scanner to input different SKUs on specific sheets. Beyond spreadsheets Excel can be an extremely versatile inventory tracker for startups, especially if you know how to use it to your advantage. While some of the formulas may seem a bit complex if you aren't
familiar with using them, it’s relatively easy to learn and allows you a lot more flexibility when managing your inventory in Excel. Plus, they enable you to reduce the manual labor and mind-numbing data entry by making Excel and machines like barcode scanners do most of the tedious work for you. Although a great starting point, it isn’t a one-size-
fits-all solution, especially for businesses looking to grow and scale. As the demands and complexity of your business grow, you will need to utilize a more sophisticated inventory and order management system to ensure you are well-equipped to handle an increase in stock and sales. No matter the size of your business, spreadsheets are a simple and
flexible tool for tracking and managing inventory.Even if you operate a small retail outlet, restaurant, or manufacturing business, there’s no reason to rely on manual methods (such as a pen and paper!) anymore.With spreadsheets, you can quickly and easily digitize your inventory and sales systems. This means less wastage, no stockpiles or
shortages, and better cash flow.Although some large companies prefer to use specialist inventory software, these programs can be expensive and overly complicated for SMEs.Excel is an affordable and straightforward solution for stock management. On top of that, it’s a piece of software that most of your team will already be using on a daily
basis.It’s not easy to know where to begin when faced with a blank spreadsheet. So here we’ve pulled together 10 of the best Excel templates to help you start monitoring stock levels and managing your company’s inventory.Top inventory Excel templatesThis template from no-code platform Sheetgo is an automated system containing three connected
Excel files.Data flows back and forth between the check-in, check-out, and inventory management spreadsheets automatically.As a result, you get an up-to-date overview of your company’s stock levels in the central dashboard. It’s easy to check which products are sold out and see which goods are currently available.This interconnected workflow
template gives you:Accurate inventory data. One file for each stage of the process means secure data sharing and less chance of errors.Scalability. Just connect more files as your business grows.Integration. Easily link your inventory to other company processes, such as your accounting, procurement, or sales spreadsheets.Just sign in with your
Microsoft or Dropbox account to start using the template.Get the template here: Sheetgo inventory template for Excel. Vend offers a great Excel template that’s free to download and use. The template has clear instructions on how to set up and use the system. It teaches you how to manage the sales tables and calculate metrics within the
workbook.Use this template to track metrics like the cost of goods sold (COGS), inventory turnover rate, sell-through percentage, and conversion rates.All of the formulas are pre-entered for you, so just type in your data and see the results.Get the template from Vend (web page). Excel Skills offers its users more than 40 premium templates, including
three designed just for managing inventory processes. These templates aren’t free, but they’re high quality, unique, and come with extensive training resources built right into the template.This particular template includes 5 inventory pages to track stock usage and movement.You can download a sample template from the following link: Excel
inventory template by Excel Skill (Excel file). This Stock Inventory Control template is created by Vertex42, one of the leading spreadsheet template resources on the web. The majority of their templates are for Excel but they’ve recently started adding some great templates for Google Sheets too.This template will help you update and manage your
stock levels and keep track of all your supplier information. It also contains a count sheet and an inventory label template. This multi-worksheet template is only available for Excel.Get the template directly from Stock Inventory Control (web page). Here’s another great template offered by Vertex42. It’s a software inventory tracker that’s perfect for
companies with multiple users and licenses.You can track the location of IT hardware, and monitor software information, purchase, and license details.As a bonus, this template is completely free to download and use.Get the template here: Software Inventory Tracking (web page). Zervant is a well known invoicing company based in the UK. They
provide some free, easy to use templates on their blog. One of these is a 3-page inventory and stock management template.This workbook includes daily stocktake, stock inventory, and stock database tabs.Along with the template, they provide really clear instructions on how to use it.Get the template here: Inventory and Stock Management (web
page). This unique template from Spreadsheet123 is designed to help restaurants and cafeterias manage food stock and sales information.Firstly, it provides an overview of the cost of goods sold. Secondly, it calculates the GPM (gross profit margin) and variance.Depending on which country you are based in, you can adjust the settings for local tax
rates. In addition, it has customizable currency, text, and measurement settings.Get the free template: Food Stocktake Template (web page). The Intuit Quickbooks inventory management spreadsheet is free to use and comes with some great tips on managing your inventory using Excel.Track products, purchases, sales, and view all of your data in a
beautifully designed report from the dashboard right inside the workbook.It’s also available in Google Sheets and Numbers for Mac.Get the template: Excel Inventory Template (web page). If you run a bar, pub, club, or restaurant, this is one of the best beverage inventory spreadsheet templates out there. It allows you to track drinks purchase costs,
actual revenue, and gross profit and loss on a weekly basis.It costs $39.95 to use, however, you can download a locked version to see if it will work for you before you make the purchase.The one-time purchase is good for life and includes free updates and technical support. You can track specific volumes against sales to calculate profits more
accurately.Get the template: Beverage Stocktake Template (web page). This inventory template from Excel Champs is easy to use, with a free Lite Version, and a paid Pro Version. First of all, both versions have a sleek dashboard and an inventory in and out sheet. The Pro version allows you to manage returns and generate invoices and supplier
reports.This template contains macros, so make sure you enable them in Excel before trying to use it.Get the template: Inventory Management Template (web page). Although inventory software has its perks, many companies simply don’t need the kind of features that come with complex inventory management programs.If you’ve never created your
own system from scratch, however, it’s tricky to know where to start.Fortunately, there’s a ton of great inventory Excel templates out there to get you started. With pre-written formulas and ready-made dashboards, they give you the framework to build an inventory solution that works for your business.With this selection of top 10 inventory Excel
templates, we hope you’ve been able to find the right system for your company.Automate your entire business in spreadsheetsDid you know that you can manage your entire company’s data in connected spreadsheets?Try Sheetgo’s automated cash flow template or budget vs actual template, and check out our other posts below for more Excel and
Google Sheets-based business solutions

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Inventory template by Excel Skill (Excel file). This Stock Inventory Control template is created by Vertex42, one of the leading spreadsheet template resources on the web. The majority of …

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Frequently Asked Questions

How to create a basic inventory spreadsheet with excel?

Method 1: Using a Template

1. Launch Microsoft Excel and click on New. To do this, go to the search bar on the top window. ...
2. Chose the style you prefer for your inventory list. Scroll through the given options and select one that is suitable or meets your preferences.
3. Click Create. ...
4. Enter your inventory data. ...
5. Save your document. ...

How do you track inventory?

Track Inventory Regularly

• Consider inventory tracking part of your administrative routine. ...
• If you have a smaller store with less frequent sales, you can get away with tracking inventory after each purchase.
• As you get additional sales, you won’t have time to track each item. ...

More items...

How to keep track of inventory manually?

How to manage inventory in Excel

• Products. The Products tab on your Excel doc should be your complete inventory list. ...
• Advanced options. Once you’ve got a basic table going, you can kick your Product tab up a notch with extra goodies. ...
• Orders. Next, we recommend creating a tab to track all your purchase orders. ...
• Sales. ...
• Optional sections. ...

How to retrieve previous excel spreadsheet?

Recover Earlier Version of Excel File from Previous Versions

1. Open File Explorer and locate the Excel/Word file.
2. Right-click on the Excel file and select "Properties".
3. Click the "Previous Versions" tab and select the version you would like to get back and then hit "Restore'.