An inventory sheet is important because it lets businesses and individuals know how much of a particular item they have in stock, making it easier to keep items in stock. To create an inventory sheet, the items must be known and then described. The items must be titled, essential details must be added to the master list, the inventory list must be created and the data must be input.Continue Reading
Step 1: Item descriptions
To begin, a person will need to first gather the names of all items sold or purchased. These items will all need their own descriptions for the inventory sheet. Each description should begin with a noun and one to two adjectives. An example might be "Ball, Purple" or "Dog Toy, Rope."
Step 2: Inventory item numbers
The inventory item numbers must be created and assigned to each item description. Be sure to do this with the accounting team in order to ensure that the numbers make sense for accounting purposes as well.
Step 3: Add details to the master list
Now add the unit price, the quantity in stock, the reorder level, the reorder time in days, the quantity in reorder and the discontinued item information. These will be columns that are added on to the inventory list.
Step 4: Create the actual inventory list
This inventory list can be created in Microsoft Word or in Excel. It should be a series of columns with the horizontal columns each relating to a particular item while the vertical columns relate to the inventory item number, the inventory item name and then the details that were added to the master list in step 3.
Step 5: Input data
Now the data can be inputted into the spreadsheet or document table. Once data has been inputted, it simply must be kept current.Learn more about Business Resources