An important part of running a business is tracking inventory. This practice helps to keep an accurate reflection of the amount and value of materials on hand, where all the materials are located, and the amount of capital invested in them. Regularly tracking your inventory can help to monitor a business’s expenses, review materials management practices and provide financial information for investors. By downloading the free sample inventory sheet on this page you will have the tool you need to accurately track your materials inventory.
Using the Sample Inventory Sheet
The sample inventory sheet is available for free on this page and can be downloaded instantly. Follow these simple steps when using it to track your inventory.
- First enter the sheet number and the day it was started. Regular use of this template will result in generating several sheets, organizing by chronological order will help to keep track of the inventory over time.
- Enter the name of the person who does the inventory. It’s always best to be able to go back to the person who performed the inventory if any questions arise or clarifications are needed.
- If the business is large enough to have different departments, indicate which one the inventory is for.
- Physically locate each item to be inventoried and visually verify its presence. Number each item as they are entered into the sample inventory sheet, provide a product description, the purchase price, how much of each item is present and where it is located. If an item has been inventoried before, all that should need to be done is update the items quantity and location if any changes have occurred.
Things to Use the Sample Inventory Sheet For
- Maintain an accurate listing of a business’s materials and finished goods on hand. This can help to provide an up to date accounting of the business’s assets and materials investments.
- Track materials purchases and identify trends in purchasing habits. Knowing which items you buy regularly can help to plan for future expenditures.
- Track finished inventory and give estimates of product demands.
Download: Sample Inventory Sheet