The Pro version allows you to manage returns and generate invoices and supplier reports. Get the template: Inventory Management Template web page. With pre-written formulas and ready-made dashboards, they give you the framework to build an inventory solution that works for your business.
Google Sheets is a staple for many companies when it comes to inventory management. Not only can Top 10 inventory Excel tracking templates. Written by Laura Tennyson. Top inventory Excel templates. Inventory Management template by Sheetgo This template from no-code platform Sheetgo is an automated system containing three connected Excel files. 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.
Just connect more files as your business grows. 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. All of the formulas are pre-entered for you, so just type in your data and see the results. Inventory Excel by Excel Skills Excel Skills offers its users more than 40 premium templates, including three designed just for managing inventory processes.
This particular template includes 5 inventory pages to track stock usage and movement. Stock Inventory Control This Stock Inventory Control template is created by Vertex42, one of the leading spreadsheet template resources on the web. As a bonus, this template is completely free to download and use. 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. Food Stocktake Template This unique template from Spreadsheet is designed to help restaurants and cafeterias manage food stock and sales information.
The usage of the drop-down box is unavoidable; it is an inseparable part of the modern report. Three components can be chosen from the list. The purpose of the Variance option is to portray the plan, the actual and the positive or negative differences between them.
Conditional Formatting is an often used Excel solution for spectacularly highlighting the differences. For example, as you can see in the picture, we portrayed the differences with red and green colors if you chose the Variance switch. We have created these with the use of the dynamic method. Therefore, minimal programming skill is needed to develop the currently introduced template. You can find the code here that enabled us to display interactive data. This is all about creating the variance analysis report and its characters.
We are sure you can learn all the above very quickly if you download the free Excel template. Thank you for staying with us today! See you again next week! You can then use the template only for controlling inventory on hand and analysing inventory movements. A unique stock code needs to be created on the StockCodes sheet for all inventory items that you want to include in the template. The stock codes created on this sheet are included in list boxes in the stock code columns on the other sheets and users are therefore required to create the appropriate stock code before the code will be available for selection on the other sheets.
A stock code convention that makes sense in the context of your business should be used and the stock code convention should make it easy to identify stock items based on the stock code that is assigned to each stock item. Refer to the sample data on the StockCodes sheet - we have used a code convention which starts with two letters followed by four numbers. The two letters are used to identify the type of stock - for example, RM refers to raw materials and PM refers to packaging material.
The four numbers that are included in the stock code convention provides for sufficient unique stock codes to be created for each type of stock. Stock codes should not be duplicated - if a stock code is duplicated on the StockCodes sheet, it may result in inaccurate inventory valuation calculations.
If a stock code is duplicated on the StockCodes sheet, an error will be reflected in the error code column. All the error codes reflected in this column should be rectified before reviewing the data. Refer to the Error Codes section of the instructions for more information on the different types of error codes which may be encountered when using the template. Our sample stock code convention is by no means a template requirement.
You can use any stock code convention as long as only unique stock codes are created and you are able to easily identify the stock codes for each stock item. The StockCodes sheet contains the following user input columns: Stock Code - enter a unique stock code in accordance with the stock code convention which is suitable for your type of business.
Description - enter a description of the stock item. This description should enable users to easily distinguish between stock items. UOM - the unit of measure UOM refers to the stock measurement which is used when ordering, using and counting stock. Stock usage and counting units of measure carry more weight than stock ordering units of measure.
For example, if it is easier to record the usage and stock count of an inventory item in kilogram and the product is purchased from a supplier in bags, the unit of measure should be specified as kilogram.
When the product is purchased from the supplier, the quantity that is purchased then simply needs to be converted to kilogram when recording the stock purchase transaction on the Movements sheet. Opening Quantity - enter the opening stock quantity. This is the stock quantity on hand on the date that you start using the template for recording inventory transactions.
All subsequent inventory movements should be recorded on the Movements sheet. Opening Cost - enter the cost of the opening stock quantity recorded in column D. The cost is multiplied by the opening stock quantity in order to calculate an opening stock valuation. Note: The contents on the StockCodes sheet have been included in an Excel data table. All the columns on the StockCodes sheet with yellow column headings require user input.
The columns with light blue column headings contain formulas which are automatically copied for all new stock codes created on this sheet. The calculated columns on the StockCodes sheet enable users to view a stock valuation and movement report for each individual stock item which is automatically calculated based on the inventory transactions recorded on the Movements sheet. The last 9 columns are only used in the dashboard calculations on the Dashboard sheet and are therefore not included in the print range.
The inventory valuation report on the StockCodes sheet consists of the quantity on hand, average cost and inventory valuation for each individual stock item columns H to J. The inventory movement report consists of the opening quantity2, purchases quantity, usages quantity, adjustments quantity, opening value2, purchases value, usages value and adjustments value columns K to R.
The total of the quantity movements should equal the quantity on hand in column H and the total of the value movements should equal the inventory valuation in column J. The inventory valuation and movement calculations are based on the "From" and "To" dates that are specified in cells H2 and H3 respectively. If both of these cells contain valid dates, the inventory valuations are calculated based on the "To" date that is specified in cell H3, the opening quantities and values include all transactions that are dated before the "From" date in cell H2 and the inventory movements include all transactions between the "From" and "To" dates.
If only a "From" date is specified and the "To" date cell is left blank, the opening balances include all transactions before the "From" date and the inventory valuation and movement calculations include all transactions after the "From" date and on or before the end of the current month which is determined by the current system date.
If only a "To" date is specified, the opening balances include only the opening quantities and values that are calculated based on the user input in column D and E and the inventory valuation and movement calculations include all transactions that are dated on or before the "To" date specified.
If both the "From" and "To" date cells are left blank, the opening balances are calculated based on the user input in columns D and E and the inventory valuation and movement calculations include all the transactions that are included on the Movements sheet and dated on or before the end of the current month which is determined by the current system date.
Note: The StockCodes sheet functionality enables users to display an inventory valuation and movement report for any user defined date range. Users are therefore not only able to calculate a current inventory valuation by stock code, but are also able to view the inventory valuations or movements for any previous reporting periods.
Note: All the amount columns on the StockCodes sheet also include a subtotal above the column heading formatted in italic which displays a total for all the stock codes which are visible on the sheet. If the Filter feature is used to filter the data on this sheet, these calculations will be based only on the filtered data.
Note: The Error Code column will contain an error code if there is a problem with the data which has been entered in any of the user input columns. If this column therefore contains any error codes, these user input errors need to be resolved before viewing the data on this sheet. Refer to the Error Codes section of the instructions for guidance on the different error codes which may be encountered when using this template. The opening stock values which are calculated in column G are calculated by multiplying the opening stock quantities and costs in columns D and E.
These are the opening stock quantities on hand before the first inventory movement is recorded and are therefore added to the movements to calculate stock on hand. The calculations in columns S to AA on the StockCodes sheet are used in the inventory dashboard calculations on the Dashboard sheet.
These columns are therefore not included in the print range on the StockCodes sheet. The only difference between these calculations and some of the inventory movement calculations is that the dashboard calculations are based on the selected date range on the Dashboard sheet which may be different from the selected date range on the StockCodes sheet. All inventory purchase transactions should be recorded on the Movements sheet.
The contents on this sheet have been included in an Excel data table. The columns with yellow column headings require user input and the columns with light blue column headings contain formulas which are automatically copied for all new transactions added to the sheet.
The following columns require user input: Transaction Date: enter the delivery date of the stock purchased in column A. All dates should be entered in accordance with your regional date settings.
We've added data validation to column A to ensure that only valid dates are entered in this column. The date on which the supplier delivers the inventory to your business premises should be recorded in this column because the inventory is added to the theoretical inventory balance on this date. If the inventory has not been delivered yet, the physical stock on hand will not agree to the theoretical stock balance. Transaction Type: select the Purchase transaction type in column B.
Supplier Name: enter the name of the appropriate supplier in column C. Document Number: enter the supplier invoice number or other unique reference number in column D.
The reference that you enter in this column should enable you to trace the transaction back to its supporting documentation. Stock Code: select the appropriate stock code from the list box in column E.
All stock codes need to be created on the StockCodes sheet before being available for selection. Refer to the stock description which is displayed in column I to ensure that the correct stock code has been selected. Transaction Quantity: enter the purchased quantity in column F. The purchased quantity should be recorded in the unit of measure which is displayed in column J.
Invoice Amount: enter the total invoice amount which relates to the stock code selected in column E. This amount should be entered exclusive of sales tax if the business is registered for sales tax purposes and inclusive of sales tax if it is not registered. If the business is registered for sales tax purposes, the sales tax can be claimed back from the appropriate tax authorities and should therefore not form part of the inventory cost. Note: If a supplier invoice includes multiple stock codes, each stock code needs to be recorded individually on the Movements sheet.
A single supplier invoice could therefore consist of multiple stock purchase transactions on the Movements sheet. Note: If stock is delivered by a supplier which is not the same supplier as the one from which the stock is ordered, the supplier invoice for the delivery cost will have to be recorded separately to include the delivery cost in the average cost calculation.
When you record the information from the delivery invoice, it is important that the stock quantity should be entered as a nil value, otherwise the quantity may be included twice in the calculation of the stock quantity on hand. It may also be necessary to allocate the delivery cost to more than one stock code if multiple stock items have been included in the same delivery. The calculated columns on the Movements sheet consist of the error code, stock description, unit of measure UOM , previous quantity on hand, new quantity on hand, previous average cost, new average cost, transaction value, purchase price per unit, unit price variance, purchase price variance percentage, total price variance and the stock movement date.
The values in all of these calculated columns are calculated automatically based on the values recorded in the user input columns. The stock description is included to enable users to view a description of the stock code selected in column E and the UOM is included to indicate which unit of measure should be used when entering transaction quantities. The previous and new quantity on hand calculations reflect the quantity of stock on hand before and after taking the purchase transaction into account.
Note: The quantity on hand calculations reflect the quantity of stock on hand before and after recording a transaction. Should this be the case, an error code will be reflected in column H which indicates that the previous inventory movement transactions for the affected stock code need to be investigated. The previous and new average cost calculations are based on all the stock purchase transactions for the particular stock code as well as the quantity on hand at the time of purchasing stock.
These calculations are only affected by stock purchase transactions because stock unit costs can only change when the purchase price of new stock items differ from the current average cost. The previous and new average costs will therefore be the same when recording stock usage or stock adjustment type transactions. The transaction value for stock purchase transactions will equal the invoice total for the particular stock item in column G. Stock usage and adjustment type transactions are valued based on the current average cost on the date of recording the transaction.
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