An inventory sheet is a document that you use to track your assets. Different types of businesses may use different types of inventory sheets to track different things such as goods for sale, software or stock inventory. An inventory sheet is usually detailed with information about the inventory that may include inventory type, price per unit and stock keeping unit (SKU) number, along with the quantity. We’ve compiled some examples and a useful inventory sheet template, so you don’t need to start from scratch.
Free Inventory Sheet Template
3 Best Inventory Sheet Examples
Depending on your industry and business type, you may need a special type of inventory sheet. While most of us think of inventory as merchandise ready for resale, it could also refer to software, stock or other assets. These examples give you an idea of the types of inventory sheets that exist and how you can use them.
General Inventory Sheet
General Inventory Sheet Example
Retail stores commonly use a general inventory sheet to account for what items they have for sale that are in stock, need reordering and what might be discontinued. It gives a detailed account of what you have on the shelves as well as what you have in the warehouse so that you can properly plan your sales needs. Each item is counted based on its serial or SKU number, which is the product’s unique identifier.
Software Inventory Tracking
Software Inventory Sheet Example
Many businesses rely on various software solutions to get the job done on a day-to-day basis. The company’s IT professional may purchase, install and upgrade a lot of software on different computers in the organization. The software inventory tracking sheet is a specialized inventory sheet that keeps track of software so that IT professionals can know when subscriptions are up, when items need to be upgraded and what the overall load to the company is.
Stock Inventory Control
Stock Inventory Control Example
If you use raw materials to make or build your products, the stock inventory control sheet will help you track these materials. This sheet is used to help you manage raw materials and stock items so that you always have the right resources to manufacture your products.
How To Create Your Own Inventory Sheet
If you’ve looked at templates and find that they don’t quite satisfy your company’s inventory needs, you can create your own sheet. By customizing your sheet, you ensure that you capture all the data that you need in one accessible document. Follow these steps to create your own inventory sheet.
Here’s how to create your own inventory sheet in just four steps:
Step 1. Open a Spreadsheet
You can use any spreadsheet you like. Common spreadsheet programs are Microsoft Excel, Google Sheets and Numbers. If more than one person needs to access the spreadsheet, make sure that all permissions are granted, and access is allowed.
Step 2. Name Your Headings
This gives you the information that you will collect on each item in inventory. Feel free to use templates to come up with headers you want to use.
Common headers include:
- Item Name
- SKU Number
- Unit Price
- Number in Stock
- Sale Price
- Minimum Order Quantity
- Order Time
- Supplier
- Discontinued Item
Step 3. Enter Basic Item Information
You are creating your own template that should have all the item information in it. The only columns that regularly change are the unit or sale price and the number in stock. You may also need to adjust the sheet if an item is discontinued. This step is time-consuming but required whether or not you use a template or create your own sheet.
Step 4. Save Your Work
Make sure to save your work and name the file as an inventory template so that you can access it regularly when you need to conduct inventory. When you do, make a copy of the file and rename it to a file name that includes the inventory date. For example, you may do inventory monthly and possibly name the file, “Inventory August 2024” for easy reference.
Bottom Line
An inventory sheet is an essential part of running your business. It helps you keep track of assets that your company needs and uses. Find a template or create your own that serves your specific needs. Learn more about how to manage your inventory effectively.
Frequently Asked Questions (FAQs)
What is an inventory sheet called?
What you call your inventory sheet is up to you, though keeping the name descriptive is a good idea. You may have an Inventory Sheet, Stock Inventory Control Sheet or Software Inventory Tracking Sheet. Always title actual inventories done with the date of the inventory conducted.
What are the main types of inventory?
There are four main types of inventory that include raw materials, work in progress, finished goods and MRO (maintenance, repair and operations) inventory.
Is inventory an asset?
Yes, inventory is an asset because the company invests financial resources into buying or making the inventory. The inventory converts to revenue when items are sold. Because it has a financial property, it is considered an asset.
Do warehouse management systems manage inventory?
Warehouse management systems (WMS) are typically an add-on from your existing Enterprise Resource Planning (ERP) provider. ERP systems manage invoicing, accounting and inventory tracking. Learn more about warehouse management systems.
What does inventory management software do?
Inventory management software helps all types of businesses track stock levels in warehouses and retail storage areas, identify storage locations, sync inventory levels to sales platforms and efficiently process sales and distribution. The best inventory management software systems also help businesses make smart purchasing decisions through sales-based forecasting and automated purchasing and receiving features.
