Manufacturing Inventory Tracker – Free Google Sheet Template

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This Google Sheet is developed as a solution to automatically calculate the current raw material stock as well as determining how many units of each product you can make using the raw materials available. 

This template is designed for Google sheets, but if you are looking for an Excel template, please visit the Manufacturing Inventory Tracker in Excel

How to Create an Manufacturing Inventory Tracker in Google Sheets

Steps to use this template:

  1. Make a Copy 
  2. Enter the Input Data
  3. View the current raw material stock

Step 1: Make a copy of the sheet

Click on the link above and then make a copy of the sheet as shown in the screenshot below.

Make a copy
Make a copy

You can save the copy in your own google drive for your use. You can then share the copy with your colleagues to collaborate as needed.

Step 2: Enter the Input Data

Enter list of parts or products in the Products sheet as shown below

Inventory Tracker – Enter List of Products
Inventory Tracker – Enter List of Products

The Sales Quantity column is calculated based on sales orders that we will be entering soon.

Enter list of raw materials you use in your business in the Raw Materials sheet:

Inventory Template – Enter Raw Materials used in Business, their starting inventory and Re-Order Point
Inventory Template – Enter Raw Materials used in Business, their starting inventory and Re-Order Point
  • Starting Inventory: In this sample data, we have 10 Apples and 10 Bananas in stock when we begin using the template.
  • Re-Order Point: We have re-order points (Wikipedia Article on Re-Order Point) set for each raw material.
  • Available Now: Displays the current stock level of each raw material.
  • To Order: When current stock for a raw material goes below its re-order level, this field displays YES. Also, the template highlights the raw material name in red font.

Enter Bill of Materials (BOM) in BOM sheet:

Inventory Template: Enter Bill Of Materials for each product
Inventory Template: Enter Bill Of Materials for each product

In the sample above, 1 unit of Banana Berry Shake is created from 1 Banana, 5 Strawberries and 10 Blueberries. 1 unit of Apple Banana Shake is created from 2 Apples and 2 Bananas. Unit of Measure column is just for your reference.

Once you have entered BOM for all your products, the initial set up is done.

Entering purchase and sale orders in Orders sheet.

As a manufacturing business, you may buy raw materials from your suppliers and sell the finished products to your customers. So, there are two key transactions – Purchase and Sale.

We can enter Purchase and Sale Orders in a single table in Orders sheet.

Manufacturing Inventory Template – Enter Raw material Purchase and Product Sale Orders
Manufacturing Inventory Template – Enter Raw material Purchase and Product Sale Orders
  • Order Type: Order P1 is to purchase 50 Apples and 20 Bananas – So, we use Order Type of PURCHASE. Order S1 is an order to sell 5 Banana Berry Shakes. We use SALE order type.
  • Order Date: Date when the order is placed.
  • Expected Date: Date when the inventory is impacted. For example, order P1 was placed on 3rd July, but raw materials will reach us only on 4th July. So, Order date is 3rd July and Expected Date is 4th July.
  • Product or Raw Material Name: The template allows drop down selection for product / raw material name. If the order type is Purchase, it will allow Raw Materials and if order type is Sale, it will allow Products.
  • Quantity: Enter quantity or units of items on the order

If an order has 5 line items, then enter as 5 rows.

Step 3: Enter the Input Data

Check Availability

Before entering a new Sale order, if you would like to check the current capacity for a product, you can easily do that.

Inventory Availability – Check capacity to make a Product
Inventory Availability – Check capacity to make a Product

When you select a product, the template runs the calculations to figure out how many units of the product can be manufactured using the raw materials in stock right now. In the image above, we see that we can make 13 Apple Banana Shakes.

 Limit

The template cannot handle complex scenarios where sub-assemblies of raw materials are raw materials to the final product.

You may also want to check some of our Google Sheet Templates:

Employee Recruitment Tracker

Invoice Tracker – Free Google Sheet Template

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This Google Sheet is developed as a solution to keep track of the sales invoices and payments made by customers in one place. You can enter payments made by customers and let the template calculate outstanding balance amounts. 

This template is designed for Google sheets, but if you are looking for an Excel template, please visit Invoice Tracker

Features of Invoice Tracker Template:

  • Track all invoices in one place
  • Identify which invoices are past due and how late they are
  • Calculate how much amount is outstanding
  • Calculate expected payments in immediate future
  • Easy to identify due amounts by Customer
  • Simple and easy to use

How to Use the Invoice Tracker Google Sheets Template

Steps to use this template:

  • Make a copy
  • Enter Input Data
  • View results in Dashboard

Step 1: Make a Copy of the sheet

Click on the link above and then make a copy of the sheet as shown in the screenshot below.

Make a copy
Make a copy

You can save the copy in your own google drive for your use. You can then share the copy with your colleagues to collaborate as needed.

Step 2: Enter Input Data

DATA ENTRY

Invoice Data Entered in Invoice Tracker Google Sheet Template
Invoice Data Entered in Invoice Tracker Google Sheet Template
  • Enter each invoice in the Invoice table beginning from row 15.
  • Enter Invoice Number, Customer, Invoice Date, Due Date and Invoice Amount
  • When Customer makes payment, enter it in Paid Amount column.
  • Green colored columns have formulas. Do not edit.
Calculated Columns in Invoice Tracker
Calculated Columns in Invoice Tracker

Outstanding Amount: This is calculated as Invoice Amount – Paid Amount

Status: There are five possible values for Status.

  • ‘ERROR”, when at least one of the fields Invoice Amount, Invoice Date, Due Date is left blank. Also, when Due Date < Invoice Date.
  • PAID IN FULL: Outstanding Amount is 0
  • CURRENT: If Outstanding Amount >0 and Due Date > Today (not due yet)
  • DUE TODAY: If Outstanding Amount > 0 and Due Date = Today
  • PAST DUE: If Outstanding Amount is 0 and Due Date = Today
  • OVERPAID: If Outstanding Amount < 0 (i.e., Paid Amount is > Invoice Amount)

Note: Error rows are not used in calculation of metrics. 

Rows with errors will be highlighted with a red Background color for your assistance.

Error Validations – Invoice Tracker – Missing Due Date
Error Validations – Invoice Tracker – Missing Due Date

Past Due Age: If the Status is ‘Past Due’, then this represents the aging bucket (1 – 30 Days, 31 – 60 Days, 61 – 90 Days, 91+ Days). Otherwise, it will be blank.

Selected: This will display 1 if the record (or row) is not filtered by the slicers.

Step 3: View results in Dashboard

The top of the Invoices sheet will present the summary in a dashboard as shown below. This will update instantly as you add more invoices to the table.

Invoice Tracker Template – Summary Metrics – Dashboard View
Invoice Tracker Template – Summary Metrics – Dashboard View

Let’s break it down in 3 sections.

Current Invoices:

Number of current (Due Date is in the future) invoices will be shown along with outstanding amount due.

Invoice Tracker Spreadsheet – Current Invoices and Invoice Amount
Invoice Tracker Spreadsheet – Current Invoices and Invoice Amount

Past Due Invoices:

Past Due Invoices and A/R Aging Report
Past Due Invoices and A/R Aging Report

Number of Past due (Due Date is in the Past ) invoices will be shown along with outstanding amount due.  Accounts Receivable (A/R) aging breakdown is also provided.

Expecting Payments:

Expecting Payments in Next 7 and Next 30 days
Expecting Payments in Next 7 and Next 30 days

Payments that are expected in the next 7 days (including today) and next 30 days (including today) will be displayed.

Slicers (Filters):

These metrics can be easily filtered using the Slicers provided.

Slicers allow filtering of Table and calculated metrics
Slicers allow filtering of Table and calculated metrics

The invoice table will be filtered as well. One can use this feature to easily target selective invoices. For example, click on Status = Past Due, to see only invoices that are past due.

You may also want to check some of our Google Sheet Templates:

Employee Recruitment Tracker

Sales Pipeline Tracker – Free Google Sheet Template

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As an owner of a small business, you will need a tool to manage the data on your sales leads. This Google Sheet Template is developed to help you in tracking your sales leads and in managing them. 

This Google Sheet Template can be effectively used to track the status of your sales pipeline. You can determine where the deals are lost using this Google Sheet template.

This template is designed for Google sheets, but if you are looking for an Excel template, please visit Sales Pipeline Tracker 

Sales Pipeline Tracker – Excel Template – Reporting Metrics
Sales Pipeline Tracker – Excel Template – Reporting Metrics

Features of Sales Pipeline Google Sheet Template

  • Track all your sales deals in an organized way in one sheet
  • View active sales pipeline broken down by stages
  • Calculates Expected Deal Values (based on Win %)
  • Calculates average time (days) taken to win deals
  • Identifies stages where deals are lost
  • Easy tool to filter deals by stage and status
  • Easy to customize

How to Use the Sales Pipeline Tracker Google Sheets Template

Steps to use this template:

  1. Make a Copy and save this template in your Google Drive.
  2. Configure the input entries.
  3. The reports are populated automatically.

Step 1: Make a Copy of the sheet

Click on the link above and then make a copy of the sheet as shown in the screenshot below.

Make a copy
Make a copy

You can save the copy in your own google drive for your use. Once copied, it can also be shared with your colleagues to collaborate as needed. 

Step 2: Configure the input entries

Review Stages in Sales Process

By default, the template comes with 5 stages (Lead, Opportunity, Demo, Quote and Sale) . The first 4 can be renamed easily by typing directly on the stage names.

4 Stages in the Sales Pipeline – Rename Stage names
4 Stages in the Sales Pipeline – Rename Stage names

Entering a new Sales deal (or lead)

We can enter new deals by typing in the Deals table.

Each row is a separate deal and it would have Company name, Contact person name, Deal Value and Created Date.

Enter sales leads data – Company name Contact name Deal value and Deal created date
Enter sales leads data – Company name Contact name Deal value and Deal created date

Deal Value can be estimated if it has not been determined yet. But please enter a value so that the pipeline can be evaluated.

We will then enter the current Stage of the deal.

Enter Current Stage of each deal from the drop down
Enter Current Stage of each deal from the drop down

The 4 stages we had defined earlier will be the values to choose from, in the drop down list.

 Then, we enter a Win % for each deal. For deals that are not closed yet, we would enter our estimate of the chances of winning a deal. If we have a 50-50 chance of winning or losing a deal, we would enter 50%.

In some businesses, the Win % are defined to be constant for a specific stage. Example: 10% for all Leads, 30% for all Opportunities, 50% for all Demos, 80% for all Quotes.

This is a sample data set with Stage and Win % entered.

Sample Sales Deals data with Stage and Win %
Sample Sales Deals data with Stage and Win %

4 more Columns are provided to enter the Email address, Phone Number, Next Activity Date and Notes.

Updating a Deal

As we continue to work on deals, new information may arrive. Based on that, we need to update the deals.

Update Win % and Stage columns for deals as needed, so that your active pipeline is always reflecting the reality.

After working on the deal, we would usually schedule the next activity for a future date. We can enter that next activity date in the Next Activity Date column and enter details in the Notes column.

Enter follow up details – Next Activity Date and Notes
Enter follow up details – Next Activity Date and Notes

Closing a Deal

Deals can be closed if a decision has been taken by the customer to purchase. This is the scenario of a deal WON.

If prospect decides to not to purchase or if it has been a while since the prospect has been in touch, we can close the deal as LOST.

We can enter this information by entering the STATUS to be ‘WON’ or ‘LOST’.

Then, we should enter the CLOSE DATE. This date is used to calculate the Average time taken to Win a deal.

Sample Closed Deals data with Status Won or Lost and Close Date
Sample Closed Deals data with Status Won or Lost and Close Date

If the Close Date is left blank, you will see a red background color indicating that the entry is missing.

Data Validation – Missing Close Date for Closed Deals – Shown by Red data field
Data Validation – Missing Close Date for Closed Deals – Shown by Red data field

This red background color will also appear if Close Date is less than Create Date. This is to ensure that the data is accurately entered.

Tips:

Win % could be deleted for closed deals as we already know the result of the deal. They will be ignored for calculations.

For lost deals, Stage should reflect the last stage the deal was in. This will be used to identify where deals are being lost the most.

Step 3: Monitor Sales Performance

This step is one that should be done regularly. It is important to keep an eye on the pipeline metrics to improve performance.

The top section of the sheet shows several important metrics needed. Let’s discuss one by one.

Active Pipeline

Sales Pipeline Tracker – Active Sales Pipeline – Metrics
Sales Pipeline Tracker – Active Sales Pipeline – Metrics

First, the pipeline summary metrics.

Sales Pipeline Summary Metrics Deals, Deal Value and Expected Value
Sales Pipeline Summary Metrics Deals, Deal Value and Expected Value
  1. Open Deals: This represents the number of deals that are not closed yet. Any deal whose status is empty (neither WON nor LOST) will be considered as an open deal. Once a status is entered, it becomes a Closed Deal.
  2. Total Value: This is the total value of all open deals. The Deal Value we enter in the Deals table will be used as such. If we win all the open deals, this is the amount we will successfully sell.
  3. Expected Value: The reality is that we will win some deals and lose some deals. So, it is better to be realistic about our estimated sales. Expected value is the weighted sum of deal value by Win %.

Metrics by Stage

As the summary metrics describe the current scenario of the entire pipeline, it is also equally important to know the metrics on the deals by stage.

Sales Pipeline Metrics by Stage – Deals, Deal Value and Expected Value
Sales Pipeline Metrics by Stage – Deals, Deal Value and Expected Value

As shown in the image above, the same three metrics (Number of Open Deals, Total Deal Value and Expected Deal Value) are shown for each of the 4 stages.

Closed Deals Performance

The previous section showed the active pipeline. As important that is, it is also important to know how we have been performing in closing deals. It can tell a lot about the future.

The next section shows the performance of closed deals.

Performance Metrics of Closed Deals – Conversion Rate, Time To Win Deals
Performance Metrics of Closed Deals – Conversion Rate, Time To Win Deals

Deals Won and Lost

Closed Deals – Number of Deals Won and Lost – Deal Value
Closed Deals – Number of Deals Won and Lost – Deal Value

In the sample above, 3 deals were won for total of $161,000 and 7 deals were lost valued at a total of $74,000.

Conversion Rate & Average Time to win deals

Conversion Rate and Average Time to win Deals
Conversion Rate and Average Time to win Deals

3 deals were won out of 10 closed deals and hence Conversion Rate is shown as 30%.

The 3 won deals took on average 17 days to close. This is based on the Close Date and Created Date we entered.

Where are deals lost?

By knowing where the deals are being lost, we can work on those stages to improve our performance.

Deals Lost by Stage
Deals Lost by Stage

Of the 7 deals we lost, 29% were lost in the Lead stage, 14% in the Opportunity stage, 43% in Demo stage and 14% in Quote stage.

We have entered a small sample of deals here. As we enter more and more data, these % will become very telling in revealing our strengths and weaknesses. If Demo is the stage we fail most often, we may need to improve the demo event to convince our prospects about the usefulness of our products.

You may also want to check some of our Google Sheet Templates:

Employee Recruitment Tracker

Rental Inventory Tracker – Free Google Sheet Template

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As an owner of a rental business, it is important to know the amount of inventory that is available and the amount of inventory rented out. This Google Sheet Template is developed to help people in tracking the availability of inventory so that it can be rented out. 

This Google Sheet template can also provide details about the availability of a particular product within a particular time period.

This template is designed for Google sheets, but if you are looking for an Excel template, please visit Rental Inventory Tracker.

Rental Calendar – Available Quantity
Rental Calendar – Available Quantity

How to Use the Rental Inventory Tracker Google Sheets Template

Steps to use this template:

  1. Make a Copy and save this template in your Google Drive.
  2. Configure the input entries.
  3. The calendar is populated automatically.

Step 1: Make a copy of the sheet

Click on the link above and then make a copy of the sheet as shown in the screenshot below.

Make copy
Make a copy of the sheet

You can save the copy in your own google drive for your use. Once copied, it can also be shared with your colleagues to collaborate as needed.

Step 2: Configure the input entries

Enter the list of assets or equipment in the Assets sheet.

Enter Rental Equipment or Rental Assets Items
Enter Rental Equipment or Rental Assets Items

Enter Asset Name, Description and # of Items you have of each asset. The last two columns are automatically calculated. When you begin, Rented Out will be 0 and all the items will be In Stock.

Enter Rental orders in Orders sheet

Rental Inventory Tracker – Enter rental orders details
Rental Inventory Tracker – Enter rental orders details

Enter Order Number,  Order Date, Asset being rented and Quantity being rented. Enter Rent Out Date (date when the asset needs to be given to customer) and Return Date (date when asset will be returned by the customer).

Use the Notes column to keep track of any information related to the order. For example, you can enter contact information of the customer.

Check Availability of Rental Asset

At the top of the Orders sheet is a simple availability calculator, which will provide the quantity available to rent for a specific asset given the rent out and return dates.

Check availability of Rental Items
Check availability of Rental Items

If the available quantity is negative, that indicates that there is not enough inventory.

Check availability of Rental Items – Not enough Inventory
Check availability of Rental Items – Not enough Inventory

This availability calculator can handle rental windows of up to 90 days long.

Check availability – Rental Assets – Window longer than 90 days
Check availability – Rental Assets – Window longer than 90 days

Step 3: Calendar is populated automatically

View Availability Calendar

The Calendar sheet provides a flexible and useful calendar that shows the availability of rental assets over 31 days. You can choose any start date for this calendar view. Also, you can choose to see Available Quantity or Rented Quantity. Here is a screenshot of Available Quantity.

Rental Calendar – Available Quantity
Rental Calendar – Available Quantity

The red colored cells indicate days when assets will not have enough inventory to cover the rental orders. You need to make sure that you re-do the rental order by working with the customer or may have to cancel the order.

Here is a screenshot of Rented Quantity.

Rental Calendar – Rented Quantity
Rental Calendar – Rented Quantity

This will help you to be aware of how many items will be rented out on any specific day.

 

You may also want to check some of our Google Sheet Templates:

Employee Recruitment Tracker

Inventory and Sales Manager – Free Google Sheet Template

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If you are struggling in managing your product inventory and sales this Google Sheet is suited for you. For everyone who runs a small business of buying products from suppliers and selling them to customers this sheet will be very helpful. This template is suitable for both retail and wholesale business. 

What more? The template will assist in knowing the inventory levels of each product and understanding which products to re-order. 

This template is designed for Google sheets, but if you are looking for an Excel template, please visit the Inventory and Sales Manager.

Inventory Spreadsheet – Summary Metrics
Inventory Spreadsheet – Summary Metrics

Features of the Inventory and Sales Manager Google Sheets Template

  • Enter and manage up to 2000 different Products
  • Set custom re-order points for each product
  • Simple and Easy data entry
  • Know current inventory levels of each product
  • Identify the products to be re-ordered
  • Know if the sale orders can be fulfilled
  • Easily understand the sales and purchase patterns (monthly and cumulative)
  • Quickly see your top customers and suppliers
  • Identify your best performing products
  • Know how the different product categories contribute to sales
  • Easily retrieve and view your order details

How to Use the Inventory and Sales Manager in Google Sheets Template

Overview of steps

  • Make a copy of the sheet
  • Input the Product and Order details
  • View details & Report

Step 1: Make a copy of the sheet

Click on the link above to access the Google Sheet. Make a copy of the Sheet as shown in the screenshot below. Save this template on your Google Drive.

Make a copy
How to make a copy of Google Sheet

Note: Once you open the saved template, you have to just configure your inputs to customize the calendar according to your needs. The reports will be auto populated. 

Step 2 : Input the Product and Order details

Enter Products

Enter list of products and re-order points in the Products worksheet

Google Sheet Inventory Management – Products Table
Google Sheet Inventory Management – Products Table

Product Category: This allows you to categorize products. If you have numerous products, categorizing similar products together can help in understanding product performance.

Re-order Point: Amount that you set for each product, where when the current inventory level hits that amount, you will place a new purchase order to replenish inventory. (For more, read Re-Order Point Article in Wikipedia)

Enter Orders

Enter the line items for all the orders (both purchase and sale) in the Orders_and_Inventory worksheet

Inventory Manager Template – Enter Order Details
Inventory Manager Template – Enter Order Details

If you have any existing inventory when you start using the template, enter them first. You can then continue to enter your new orders (purchase and sales) as they happen. The template will then give you accurate count of your inventory.

  • Order Number: This Order number is not used in the template to calculate anything. This has been provided for you to track your orders easily. You can filter the Orders table by choosing specific order number to see all the items in that order. If your systems generate any order numbers, you can enter them here. If you don’t have any such systems, you can create your own. The only recommendation is that you should have a unique order number for each order.
  • Order Type: There are two types of Orders: Purchase and Sale. When you place an order to acquire products from suppliers, it is called a Purchase order. When your customer places an order to buy products from you, it is called a Sale.
  • Order Date: For Purchase orders, this is the date when the order is placed by you to your supplier. For Sale orders, this is the date when the order is placed by your customer to you.
  • Expected Date: For Purchase orders, this is the date when the inventory becomes available for you to sell. For Sale orders, this is the date when the inventory will leave you to the customer.
  • Partner: For Purchase orders, your supplier is the Partner. For Sale orders your customer is the Partner.
  • Quantity: Number of units of products. The unit can be any numeric value. Even if your unit is not whole numbers, you can still use the Quantity field.
  • Unit Price: In Purchase orders, this is the cost of buying one unit of the product. In Sale orders, this is the revenue from selling one unit of the product.
  • Amount (Calculated field): (Unit Price X Quantity) = represents the amount of money. In Purchase orders this would be money leaving you and in Sale orders, this would be money that customers pay you.
  • Inventory Availability (Calculated field): This is the quantity (number of items) of the product available in inventory as of the Expected Date.

Step 3 : View details & Report

View information about overall inventory availability

Inventory Googlesheet Template – Summary Metrics
Inventory Googlesheet Template – Summary Metrics
  • Current Inventory of a product = (Total Purchases of Product – Total Sales of Product) as of today
  • Products Available: Number of Products where the current inventory level is greater than 0.
  • Quantity: Total Number of items of all Products currently available
  • Products to Re-order: Number of Products where the current inventory is less than or equal to the re-order point
  • Order Items that cannot be fulfilled (Current): Among the orders where the fulfillment date is less than or equal to today, number of line items in orders where the available inventory is less than the Sale quantity
  • Order Items that cannot be fulfilled (Future): Among the orders where the fulfillment date is in the future, number of line items in orders where the available inventory is less than the Sale quantity

View details of one specific product

Choose a product from the drop down and see details of that specific product.

Choose Product to view current inventory
Choose Product to view current inventory
  • Pending Purchase Quantity: Quantity in the Purchase Orders that are expected to be available in the future
  • Pending Sale Quantity: Quantity in the Sale Orders that are expected to be delivered in the future

View products to re-order

List of Products to order
List of Products to order

If there are line items that cannot be fulfilled or if there are products to re-order, take actions appropriately.

View Report

View the Report worksheet to understand the purchase/sales trends and also to identify the top performing products and most valuable suppliers/customers.

The report sheet has slicers (filters) at the top.

Inventory and Sales Manager – Google Sheet Template – Report Filters/Slicers
Inventory and Sales Manager – Google Sheet Template – Report Filters/Slicers

Amount and Cumulative Amount by Month

Inventory and Sales Manager – Google Sheet Template – Report – Amount and Cumulative Amount
Inventory and Sales Manager – Google Sheet Template – Report – Amount and Cumulative Amount

Quantity and Cumulative Quantity by Month

Inventory and Sales Manager – Google Sheet Template – Report – Quantity and Cumulative Quantity
Inventory and Sales Manager – Google Sheet Template – Report – Quantity and Cumulative Quantity

Amount distributed across Product Categories by Month

Inventory and Sales Manager – Google Sheet Template – Report – Amount by Product Category
Inventory and Sales Manager – Google Sheet Template – Report – Amount by Product Category

Quantity distributed across Product Categories by Month

Inventory and Sales Manager – Google Sheet Template – Report – Quantity by Product Category
Inventory and Sales Manager – Google Sheet Template – Report – Quantity by Product Category

Amount Distributed across Partners

Inventory and Sales Manager – Report – Amount by Partner
Inventory and Sales Manager – Report – Amount by Partner

Product Ranking based on Sales Amount or Quantity

Inventory Sheet – Google Sheet Template – Report – Product Ranking
Inventory Sheet – Google Sheet Template – Report – Product Ranking

You may also want to check some of our Google Sheet Templates:

Employee Recruitment Tracker

New Employee Checklist

Employee Vacation Planner

Retail Inventory Tracker – Free Google Sheet Template

Posted on

As an owner of a retail business, it is important to know the availability of inventory to manage orders. This Google Sheet Template is developed to help people in buying products from suppliers and selling them to their customers in a retail business scenario.

This Google Sheet Template can be effectively used to determine which products to reorder, who are your best suppliers and customers. 

This template is designed for Google sheets, but if you are looking for an Excel template, please visit Retail Inventory Tracker 

Retail Inventory Tracker

Key Features of this template are

Order Management

  • 3 types of orders (Sale, Purchase, Adjust)
  • Handles product returns
  • Auto-Populate product prices in orders

Inventory Management

  • Calculates current inventory of each product
  • Set re-order points and know what to order

Finance

  • Handles tax
  • Handles product level and order level discounts
  • Calculates Cost of Goods Sold (COGS) and Profit

Data Management

  • Easily access Product, Partner (Customer and Supplier) and Order Lists
  • Maintain history of Product price data

Reporting

  • 6 page interactive report of business metrics
  • 12 month trends of key metrics
  • Identify best products and partners
  • Calculates Inventory value

How to Use the Retail Inventory Tracker Google Sheets Template

Steps to use this template:

  1. Make a Copy and save this template in your Google Drive.
  2. Configure the input entries.
  3. The reports are populated automatically.

Step 1: Make a Copy of the sheet.

Click on the link above and then make a copy of the sheet as shown in the screenshot below.

You can save the copy in your own google drive for your use. Once copied, it can also be shared with your colleagues to collaborate as needed. 

Step 2: Configure the input entries.

Initial Setup

These Initial Setup steps are to be done first as a one-time activity.

This Google Sheet Template is one of the simplest templates to get started. Following are the inputs needed for this template to populate the reports automatically.

Enter Business Information

In the Settings sheet, Enter your business information such as address, email and phone number.

Enter business information such as addresses and phone number
Enter business information such as addresses and phone number

Enter Product Categories

If you are selling several products in your business, it is recommended that you categorize your products. This helps a lot in managing them and understanding their sales performance.

Enter Product Categories in your retail business
Enter Product Categories in your retail business

Enter Products

In the Products sheet, let’s enter each of our products in a separate row.

Please start entering from row 4

Enter Products with Name, Description Starting inventory and Re-order point
Enter Products with Name, Description Starting inventory and Re-order point

Let’s see each of the fields in the Products table. 

  • ID: Unique identification of product. This has to be unique. Please do not repeat the same ID or leave the field blank.
  • NAME: Name of the product
  • DESCRIPTION: Description of the product, as needed in our business.
  • STARTING INVENTORY: This is the quantity of the product we have when we begin using the template. This is entered only once and does not have to be updated daily.
  • RE-ORDER POINT: The quantity of product at which you would like to replenish by ordering.

There are a few more columns of product information we can input.

Enter Unit of measurement, Product category, Tax information for each product
Enter Unit of measurement, Product category, Tax information for each product
  • UNIT: This is how we measure this specific product.
  • CATEGORY: Product category to which this product belongs.
  • TAXABLE: In our business, if we have products that are not taxable, we can enter NO. If tax is applicable, just leave it blank. By default, tax will be applicable.
  • PR CUST FIELD: This field is provided as a placeholder for you to enter any information you need at Product level. You can rename the field and use it as needed.

The other columns in this sheet are all calculated columns.

The columns that have Green colored labels are all calculated columns. Please do not edit the formulas in them. 

Enter Product Prices

In the Prices sheet, we will be entering Purchase and Sales prices.  This information will be used to auto-populate prices in our orders. This will save a lot of time in data entry of orders.

Enter product purchase and sales prices in Prices sheet
Enter product purchase and sales prices in Prices sheet

Purchase Price is the price we pay our suppliers to purchase products. Sales Price is the price we sell the products to our customers at.

To begin with, let’s assume we start using this template from Nov 1, 2016 to enter orders.

We enter each product in this Prices table and enter Nov 1, 2016 as the Effective Date. The Purchase and Sales prices we enter will be the prices effective as of Nov 1, 2016.

What if price changes?

The template is designed to accommodate price changes for products. You may have an increase in prices of certain products over time. Not a problem.

If price changed for a product from Jan 1, 2017, we will just add a new row, enter the Product ID, Effective date (as 01-Jan-2017) and the new Purchase and Sales prices. Please note that we have to add new rows whenever prices change, and not to replace the older data.

We have to enter both purchase and sales price in each row, even if only one of them changes.

Enter list of Partners 

In the Partners sheet, we store the list of our partners. Partners include Suppliers and Customers.

Enter customer and supplier information in Partners sheet
Enter customer and supplier information in Partners sheet

If a partner is both a customer and a supplier (it is possible in some scenarios), enter the partner only once.

  • Partner ID and Partner Names should be unique.
  • Enter Shipping and Billing address, E-mail address and Phone number.
  • Enter the primary person of contact for each company in the CONTACT field.

This sheet now serves as a nice organized set of data about your partners.

We have completed the initial set up now. It’s time to enter our first order.

Creating Orders

Before we enter our order, let’s learn about the types of orders. You can create 3 types of orders in this template.

3 types of orders Purchase, Sale and Adjust
3 types of orders Purchase, Sale and Adjust
  1. PURCHASE: When we purchase products from our suppliers, we enter a PURCHASE order. This order will add the purchased items to inventory on the Expected Date.
  2. SALE: When we sell products to our customers, we enter a SALE order. This order will subtract sold items from the inventory on the Expected date.
  3. ADJUST: We can create an ADJUST order and enter negative quantity values to reduce inventory or positive values to increase inventory as needed. This can be used to adjust our inventory numbers to ensure that the numbers match the inventory on hand. For example, we may lose products due to damage or expiry or other reasons. We would want to adjust our inventory accordingly and that’s where we can use ADJUST order type.

Creating a Purchase Order

Orders are entered in this template in 2 stages – 1) Order Header  and 2) Order Details. Let’s use an example. The products here are shirts for boys and girls. They are available in different colors.

In the Order Headers sheet, we enter the following information.

Entering a purchase order in Order Headers sheet
Entering a purchase order in Order Headers sheet

The Order Number should be unique. In other words, each order should be entered in one and only one row. The field should not be blank.

We can enter any method of numbering orders. The template does not limit that and does not create any pre-defined order numbers. Here, we have entered ‘P1’ as order number, to reflect that it is the first purchase order we are entering. 

Order Date and Expected Date

Each order will have 2 dates. Order Date and Expected Date. Order Date is the date when the order is placed. Expected Date is the date when the inventory is impacted.

For example, if you place a purchase order on Nov 5th. The supplier says the products will reach your inventory on Nov 25th. Here, Nov 5th is Order Date and Expected Date is Nov 25th. If there is a delay later and the supplier says it will only reach on Nov 27th, then we have to update the Expected Date of our order to Nov 27th.

Order Type is ‘Purchase’ and we have chosen our supplier in the Partner Name field.

There are additional information we can enter in the Order Header.

Additional information on Purchase Order – Order Header
Additional information on Purchase Order – Order Header
  • OTHER CHARGES: Any additional cost on the order. For example, shipping charges.
  • ORDER DISCOUNT: Any additional order level discount amount (not %). We will be entering product level discounts later.
  • TAX RATE: Tax Rate % applicable for this order. We can have different tax rates for different orders.
  • ORDER NOTES: Enter any notes for your reference to this specific order.

Now, we enter the items on the order in the Order Details sheet.

Entering order line items in Order Details sheet – Product, Quantity and any discount
Entering order line items in Order Details sheet – Product, Quantity and any discount

It is very simple. Enter Order Number, Product ID, Quantity and any Unit Discount.

Here, we have entered a purchase order to purchase 15 units of Boys Shirt in Red color and 10 units of Girls Shirt in Red color. There is a discount of $2 (any currency you use) for each of the 10 Girls shirts and no discounts for the Boys shirts.

The template will calculate amounts for each line item.

Calculations of Amount and tax for each line item in the order
Calculations of Amount and tax for each line item in the order

Creating a Sales Order

Entering a sales order is very similar to the purchase order, except that our Order Type is ‘Sale’ now.

Entering a Sale Order in Order Header sheet
Entering a Sale Order in Order Header sheet

As shown in the image above, to add an order, we just add our entry in a new row in Order Headers sheet.

We enter S1 as Order Number. This sale order was placed on Nov 26th and products were given to customers on the same day (Nov 26th).

 In the Order Details sheet, we add 2 rows as we are selling two products (MSBL and MSGR).  10 units of MSBL and 5 units of MSGR.

Entering Sale Order line items with Product and Quantity in Order Details sheet
Entering Sale Order line items with Product and Quantity in Order Details sheet

This order will now automatically reduce inventory for each of the products, effective as of Nov 26th (Expected date).

Handling Supplier Return

If we have a situation where we want to return products back to our supplier due to some reason (example: defective products), we can do so easily.

We will enter a new Purchase order.

Tip: For easier identification of return orders, you can enter order number differently. For example, use a prefix of PR for purchase return orders.

In our example, after receiving the products on Nov 25th, we notice that there are 5 defective BRD units. We want to return them.

So, on the next day (Nov 26th), we send the products back to the supplier.

Purchase Return Order – Handling Supplier returns in retail
Purchase Return Order – Handling Supplier returns in retail

In the Order Details sheet, we will enter the information on returning product and quantity.

Purchase Return Order – Handling Supplier returns in retail
Purchase Return Order – Handling Supplier returns in retail

Since we are returning 5 units of BMGR, I have entered -5 as Quantity. Entering a negative value is important. That ensures that our inventory is reduced by 5 units for this product.

Handling Customer Return

Similar to the Supplier Return, we can also handle customer returns. If customer decided to return products to us, we can enter that information in the template. We use a Sale order for that purpose.

Customer Return Order – Handling products returned by customer
Customer Return Order – Handling products returned by customer

In this example, SR1 is the sale return order that is placed on Nov 30th.

Customer Return Order – Entering quantity of products returned by customer
Customer Return Order – Entering quantity of products returned by customer

4 units of BMGR are returned by the customer.  We enter -4 as Quantity. This will be used by the template to add 4 units to GRD inventory, effective as of Nov 30th.

Creating an ADJUST order

On some occasions, we may find that a product is either expired or damaged locally at the warehouse. We cannot return it to the supplier, and we cannot sell that to customer too. We need to make sure that our current inventory calculations reflect the true available inventory to sell. This is where we can use the order type ‘Adjust’.

In the Order Headers sheet, we first create a new Adjust order.

Entering an Adjust order to handle scenarios by product expiry or damage
Entering an Adjust order to handle scenarios by product expiry or damage

For example, one BMGR shirt was damaged in the warehouse and we notice it on Dec 1st. So, we enter it as shown below.

Adjust Order – Entering quantity and discount
Adjust Order – Entering quantity and discount

We enter -1 as Quantity. This will reduce the inventory by 1.

If we want to increase inventory levels without entering a purchase order, we can use an ADJUST order where we enter positive values as Quantity.

 We enter 35 as Unit Discount (as that is the sales price of the product). This is to zero out the impact on cost. If we are not incurring any additional cost by disposing the shirt, then this method is recommended.

If we incur any additional cost, then we enter the appropriate Unit Discount so that the total Amount after Tax reflects the disposal cost.

Step 3: Automatically populate reports

Business Performance Reporting

The template has extensive automated and interactive reporting in the Report sheet.

Current Status (Inventory level and Inventory value)

Current Status of Inventory – Retail Business
Current Status of Inventory – Retail Business

The following metrics are displayed to reflect the status as of today.

  • Total inventory (quantity) on hand
  • Total inventory to Come (ordered from suppliers already and will reach our inventory in future)
  • Total inventory to Go (ordered by customers already and will leave our inventory in future)
  • Number of Products to re-order (products whose current inventory is at or below its Re-Order Point)
  • Inventory Value (calculated based on current purchase price of the products on hand)

 The above presents the overall summary of all products together. We would also want to see this information individually for each product. To do that, we go to the Products sheet.

Inventory levels of each product in Products table
Inventory levels of each product in Products table

Now, the rest of the Report sheet presents an interactive way of accessing business performance metrics.

We can customize the date range for the report by choosing any start and end dates.

Enter Start and End Date for Report
Enter Start and End Date for Report

We leave the Refresh as ON. If you enter a lot of order data over time and if you notice the file is getting slower, you can turn this OFF. It will stop the report from refreshing constantly and that will improve performance.

For the date range we entered, we can see the summary metrics.

Summary Business Performance Metrics for Retail Business
Summary Business Performance Metrics for Retail Business
  • SALES
    • Sales Qty: Total of quantity on Sale orders. Considers returns as well.
    • Sales Amount: Total Order amount on the Sale orders. Includes product level discounts. Does not include tax, order level charges and order level discounts.
    • Sales Tax: Total tax amounts on Sale Orders
    • Qty Returned from Customer: Quantity returned by customers
    • Discount Amt Given: Total amount of discount given to customers
    • Other Charges: Total of other charges on all Sale orders
  • PURCHASE
    • Purchase Qty: Total of quantity on Purchase Orders. Considers returns as well.
    • Purchase Amount: Total Order amount on the purchase orders. Includes product level discounts. Does not include tax, order level charges and order level discounts.
    • Tax: Total tax amounts on Purchase Orders
    • Qty Returned to Supplier: Quantity returned to suppliers
    • Other Charges: Total of other charges on all Purchase orders
  • PROFIT
    • Gross Profit: Sales Amount – Cost of Goods Sold
      • Cost of Goods Sold is the sum of purchase price of products sold. Purchase price is the price of product as of Sale order date.

We can view these metrics by month, for 12 months at a time.

Monthly Metrics on Sales and Purchases – Sales Amount, Cost of Goods Sold and Profit
Monthly Metrics on Sales and Purchases – Sales Amount, Cost of Goods Sold and Profit

We can choose one of the metrics to display data on a chart showing trends over 12 months.

Choose metric to display on chart
Choose metric to display on chart

Monthly Metrics on Sales and Purchases – Trend Chart
Monthly Metrics on Sales and Purchases – Trend Chart

Top 10 and Bottom 10 Products

One of the important pieces of understanding business performance is knowing which products are selling the most and which ones are not. We have 3 ways of measuring sales – Quantity, Amount and Margin. This allows us to understand the true impact of the products to the business.

Choose one of the 3 Sales metrics (Sales Quantity, Sales Amount and Margin)
Choose one of the 3 Sales metrics (Sales Quantity, Sales Amount and Margin)

We will see top 10 and bottom 10 Product Categories by the selected Sales metric.

Top 10 Product Categories by Sales Metric
Top 10 Product Categories by Sales Metric

Bottom 10 Product Categories by Sales Metric
Bottom 10 Product Categories by Sales Metric

Similarly, the top 10 and bottom 10 Products by sales metric.

Top 10 Products by Sales Metric
Top 10 Products by Sales Metric

Bottom 10 Products by Sales Metric
Bottom 10 Products by Sales Metric

If we want to look for details of a specific product, we can choose the product ID from the drop down.

Choose Product to view Performance metrics
Choose Product to view Performance metrics

Product Performance Summary metrics
Product Performance Summary metrics

View Inventory level for selected product
View Inventory level for selected product

Sales Quantity – Monthly Trend for chosen product
Sales Quantity – Monthly Trend for chosen product

Partner Performance

Another important aspect is to understand best partners (customers and suppliers).

Top 10 Customers by Sales
Top 10 Customers by Sales

Top 10 Suppliers by Purchase Amounts
Top 10 Suppliers by Purchase Amounts

We can then see the details of one specific partner at a time.

Choose Partner to view Performance metrics
Choose Partner to view Performance metrics

Partner Performance Summary metrics
Partner Performance Summary metrics

You may also want to check some of our Google Sheet Templates:

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