An inventory tracking spreadsheet built for small businesses
This inventory tracking spreadsheet shows what you have, what it’s worth, and what to reorder. Inventory is often a small business’s biggest hidden cost. After all, cash on the shelf isn’t cash in the bank. So the tracker also flags slow-moving items and walks you through a year-end count that ties to your taxes.
Who it’s for
Retailers, online sellers, and small product businesses that carry inventory but don’t need complex software.
What the inventory tracking spreadsheet helps you do
- Know on-hand quantity and value for every item.
- Get reorder and slow-moving alerts automatically.
- Count inventory at year-end and see differences in units and dollars.
- Calculate cost of goods sold, turnover, and days of inventory on hand.
What’s included
- Inventory & COGS Tracker (Excel): items, transactions, a year-end count sheet, and a COGS summary.
- Room for 200 items and 2,000 transactions, with sample data filled in.
How it works
First, list each item with its cost, reorder point, and reorder quantity. Next, log receipts, sales, returns, and adjustments as they happen. The tracker then updates quantities and flags anything to reorder. Finally, at year-end, enter your physical count. The workbook calculates cost of goods sold for you.
Why inventory records matter at tax time
Your ending inventory directly changes your taxable profit. In other words, a sloppy count means a wrong tax return. The IRS explains inventory rules in Publication 538, Accounting Periods and Methods. To close the rest of your books cleanly, add our Year-End Close Kit.
Need help tying inventory to your books? Work with us.
Instant download. Requires Excel 2016 or newer (or Microsoft 365).