Difference between Bookkeeping and Accounting, Reorder levels, quantities and lead times (if this method is used). Suitable for businesses that requires inventory usage measurement, Create stock codes for all inventory items, Record purchases, inventory usage and inventory adjustments, Inventory valuation on an average cost basis, Includes stock count feature & calculation of stock count variances, Automated calculation of theoretical inventory balances, Includes unique dashboard for analysis of inventory movements, Analysis of sales, cost of sales and gross profit for any date range. These calculations play an important role in calculating the previous and new average costs in columns M & N and can also be used to identify stock transaction recording errors - if either the quantity on hand before or after recording a transaction is negative, it means that an error has been made in the recording of previous stock movement transactions. 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. Which is helpful in most of aspects of business. Because the inventory calculations, inventory internal storage and management and maintaining its each ttransaction is depending on your management tool applications. We are committed to provide free tools for your company management system, so we are providing you a quick and easy way to maintain your stock in Microsoft excel. There are significant benefits to controlling stock on a daily basis and the recording of daily stock usage forms an integral part of this process. Once-off pricing - no annual or monthly fees! Transaction Date: enter the delivery date of the stock purchased in column A. Dashboard - the inventory dashboard is automatically updated based on the stock code and dates selected in the filter section of the dashboard. Note: The contents on the StockCodes sheet have been included in an Excel data table. The rate in rupees and the total value of the specific item is shown as well. Cost of sales for the purpose of this analysis is defined as the total of stock usage and stock adjustments. Supplier Name: enter the name of the appropriate supplier in column C. This template will help you to maintain each software details individually, as well all the details will help you to maintain inventory effectively. Stock maintenance in excel is tricky work but up to a certain level of products, you can manage it easily and freely. Mostly in food serves businesses such as restaurant, hotel and cafe etc., are needs to manage its food inventory. This document will help you to list out all the assets of your home. Because its specifically designed to maintain this kinds of stock for regular manufacturing processes. The inventory dashboard on the Dashboard sheet is calculated automatically from the movements entered on the Movements sheet. Click to download the trial version (xlsm). Previous stock purchases and the prices at which these stock purchase transactions occurred only influence the average cost calculation to the extent of the inventory quantities still on hand at the time of the next purchase. 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. Before some formatting details or items of the stock is displayed below. The stock count variances can then be copied to the Movements sheet and recorded as stock adjustment transactions in order to adjust the theoretical stock quantities to the quantities counted. If there are factors which result in daily stock usage measurement being impractical, this template can also be used to record and analyse weekly stock usage. Most accounting packages include stock control or for an additional cost. The interactive inventory report contains selections for the basis, measurement and type. Control inventory by recording stock … As my business grows I will definitely purchase more products from you. All inventory related sales amounts need to be recorded on the Sales sheet in order to facilitate a comparison between sales and cost of sales (the sum of inventory usage & adjustments) and the calculation of gross profit amounts and percentages. If stock items are received from a supplier on the day of the stock count, you should consider whether these items will be included in the physical stock count. The inventory can be in any form and sectors such as office inventory, stock inventory, home inventory, personal inventory etc. Any IT department or IT sectors deals with a large inventory of software items know that keeping track of each software package is important. … For small companies or in new start-ups, its a big challenge due to shortage of staff specially in pharma field where huge number of products present. All the inventory valuation calculations in this template are based on an average cost calculation methodology.