How to make an Inventory List in Excel

How to make an Inventory List in Excel

Any retailer, salesperson, and wholesaler have to have an inventory management system. Keeping track of stocks without the help of professional software can be very tedious. Most people will look at the costs needed to acquire such software and give up. Without considering Microsoft Excel as a substitute, most retailers will end up giving up on keeping such records. Such decisions become critical as, in the long run, they end up affecting business performance.

The article below looks at making an inventory list in an Excel spreadsheet on a Windows or Mac computer. We will discuss using pre-made templates in Excel or creating your own. Here we go.

Method 1: Using a Template

There are several pre-formatted inventory templates in Microsoft Excel. To access this, follow the steps below;

1. Launch Microsoft Excel and open a new document.

To do this, go to the search bar on the top window. Type in "inventory list," and then press Enter. It will direct you to different options.

In Mac, click File in the upper left corner and then click New from Template in the drop-down menu.

2. Chose the style you prefer for your inventory list.

Scroll through the given options and select one that is suitable or meets your preferences.

3. Click Create.

You will find this option to the right of the template's preview window. It will create your template. Please wait for it to load as it may take only a few seconds.

4. Enter your inventory data

You will find pre-formatted data in the different fields. You can delete these and feed in your data under the item number, item name, item cost, etc.

5. Save your document.

Go to the File tab, select Save As. Choose the location on your PC where you want to save this File.

Method 2: Creating an inventory list in Excel from scratch

1. Launch Microsoft Excel program.

2. Create a blank workbook by clicking on the File tab. It is on the upper-left side of the window. Select the 'New' option and click on the Blank workbook.

3. Create your inventory list headers. These headers will represent the different things you want to record, like item number, item name, item cost, item ID, the total number of items, items sold, and net value. Fill in the inventory list headers vertically under different cells. For example, A1, A2…A7

4. Enter the inventory information. Enter all the inventory information you want to record in your worksheet. Do all the totals and computations using Excel formulas.

5. Save your File. Save your worksheet to your preferred location. Remember to type the worksheet's file name.

Conclusion

Having an inventory list is a preferable way of keeping track of your stocks, sales made and the amount received. It is a crucial part of any retailer or salesperson business. Not only will you be able to keep track of your sales, but you will also know when to manage stock depletion. Choosing either of the two ways of creating an Excel inventory list saves you from incurring extra fees from professional software.

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