Bottom Border Book to Actual ComparisonĪfter all of your careful tracking, some of your inventory is going to mysteriously shrink, right? Or, you’re going to purchase something and record it incorrectly. Using a thick line at the end of a column of numbers helps a reader see that it is the end of the series. Let’s do a bottom border to show that this is the sum at the end of the table. Now all of the decimal points are lined up which makes it visually easier to read. In order to get all of the numbers in the value column to have two decimal points, change the formatting to Number by going to the Format menu, choosing Number, and then selecting Number again. Let’s do a little bit of formatting so it’s easier to read. Total Inventory Value Formatting your Sheet To reflect the proper value of your inventory in your financial records, you need to adjust it to this number if that’s not what the balance is now.
The ending value of this inventory is the total shown in the ending value column. I went back in and I filled out some activity for two more flavors of ice cream. Open up the parentheses and choose the range of all the ending values. Go to the bottom of the ending value column and type =SUM for your formula. Next, we’re going to total the value of our inventory. If your table is set up with the same rows and columns as the example, your formula for the ending balance should be =C4+D4-E4. During the first month, you purchased four units and you sold two.įor the ending balance, you will use a formula. We’re using an ice cream shop as an example so the example is using vanilla as one of the flavors.
PHYSICAL INVENTORY SHEET TEMPLATE HOW TO
We will review how to do that later but, for now, just type your amounts in. In subsequent months, you will be able to link the beginning balances to the prior period’s ending balances. When you use this spreadsheet for the first month, you need to hard-code the beginning balances. In order to have all of the right column headers, start the spreadsheet by adding the following labels in the first row:Įnter your item descriptions in the first column under the Item header. This article will walk you through how our inventory tracking template is created.
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