Inventory Worksheet 

Ideal for small businesses that carry finished goods inventory, especially those in the buy-and-resell sector. It's not suited for tracking raw materials, work in progress, and finished goods separately. 

This worksheet requires some manual data entry to stay up-to-date. For optimal performance and ease of use, we recommend using this worksheet for businesses with 50 or fewer different items or SKUs. Additionally, monthly inventory transactions (buys and sells) should ideally be no more than a few hundred a month.

Suitable for those seeking a simpler, more affordable alternative to complex software, but may not meet the needs of businesses with highly complex inventory systems. If you have more than a few hundred inventory transactions a month or you need to track raw materials separately, an inventory system may be necessary.

Our worksheet employs the weighted average cost method, providing a realistic and fair valuation of inventory by averaging the cost of goods available for sale. This is an acceptable inventory valuation method by the IRS. This worksheet does not support Last-in-First-Out (LIFO) or First-in-First-Out (FIFO) accounting methodologies.

Because we want to keep the price low, support is not included in the package. That said, for quick questions about the worksheet, we can often assist and welcome you to email customer support at [email protected].

You’ll enter your opening inventory, purchases (stock in), purchases in transit (ordered but not received), and sales (stock out). 

From there built-in formulas automatically calculate key metrics and track your inventory value.

Yes, it's user-friendly and comes with a step-by-step tutorial so you can easily and seamlessly start using it.

While the core structure is fixed for accuracy, there is flexibility for specific business data input. We generally advise against modifying the worksheet or copy/pasting large amounts of data at a time as it could compromise the integrity of the worksheet and its formulas.

It's in a standard spreadsheet format, accessible via Microsoft Excel or Google Sheets.

Regular updates are recommended as new inventory data comes in, depending on transaction volume. We typically recommend updating either once a month or once a quarter. 

Yes, it provides a clear inventory picture for better financial planning and informed purchasing and sales decisions. It will give you specific dates and suggested order amounts to help you forecast your cash flow and make sure you have enough cash on hand for the inventory you need.

Since the digital download is provided to you upon purchase, we do not provide refunds. That said, we are committed to your satisfaction. If you are unsatisfied with your purchase, please contact us at [email protected] so that we can make it right. When you purchase the spreadsheet you are agreeing to our terms which you can review here: https://learn.jamietrull.com/program-terms-and-conditions 

Yes! Financial Professionals love it when their clients bring them all their numbers organized in our spreadsheets! We hear so much feedback about the high praise buyers receive at tax time for having all of their information neatly organized. It can also be shared for other purposes, like obtaining a mortgage or other loan.