best way to keep an inventory for small business

#BEST WAY TO KEEP AN INVENTORY FOR SMALL BUSINESS SERIAL#
#BEST WAY TO KEEP AN INVENTORY FOR SMALL BUSINESS MANUAL#
#BEST WAY TO KEEP AN INVENTORY FOR SMALL BUSINESS SOFTWARE#

Some of these data points will also be the same as in the Products tab above. We think the data points listed above should be sufficient for most businesses, but you’re free to add more columns if you want your inventory tracker to monitor other factors (like bills of materials).

Amount-Input the total values of the items ordered.Īgain, you can choose to make this tab as simple or complex as you like.

Cost price-List the prices you paid for each item.

Quantity-Show the quantities you ordered of each item.

Vendor-Input the names of the vendors you ordered each item from.

Stock received date-Note the dates when you received the ordered products.

Purchase date-Show the date you placed the order for each item.

Product name-Share the names of your products.

Category-List the product categories for each item you’ve ordered.

And again, make sure you list each item as a separate row in your Orders tab (even if they’re on the same purchase order as another item). Make sure they match the item numbers you used on your Product tab.

#BEST WAY TO KEEP AN INVENTORY FOR SMALL BUSINESS SERIAL#

Item number-Input the SKUs, serial numbers, or product numbers for each product.Order number-Use the numbers you’re using to track your purchase orders with your vendor.So if you’re unfamiliar with Excel, you may want to use an inventory product tracking template. Excel is a vastly complicated program, and even experienced Excel users get tripped up from time to time.

#BEST WAY TO KEEP AN INVENTORY FOR SMALL BUSINESS SOFTWARE#

If your business has multiple people dealing with inventory, sales, or other spreadsheet needs, then you will need to look at a Business plan that includes the software for multiple users to collaborate. This makes Excel considerably cheaper than most inventory management software, and it includes 1 TB of cloud storage for all your business files. The software costs $139.99 for a single user, or you can opt to get the complete Microsoft 365 Personal suite for $69.99 per year (which you can break up into monthly payments of $6.99). Excel is not free, even if you have a PC.But it’s still not quite as accurate as real-time tracking solutions since Excel sheets rely a lot more on human input.

#BEST WAY TO KEEP AN INVENTORY FOR SMALL BUSINESS MANUAL#

This makes Excel a lot more efficient and accurate than manual inventory management systems. Excel’s main selling point is its built-in formulas, which perform calculations for you based on the data you input.Most people use Excel on a singular computer and purchase a license once since Microsoft 365 for Business costs $12.50/month per user. However, Microsoft 365 for business does allow cloud storage and collaboration. Excel is not primarily a cloud-based software.There are a few things you should know about Microsoft Excel before you invest too much time into creating an inventory tracking spreadsheet.

Best way to keep an inventory for small business