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Elosimple excel inventory

Peter Darrah, CA
Peter Darrah, CA

The document is a user guide for the Elosimple excel inventory template, which provides a template for tracking inventory records and reports in Microsoft Excel. The template contains four sheets - Index, InventorySetup, Tally, and Report. The Index sheet lists all resources in the workbook. The InventorySetup sheet is used to enter business information and inventory codes/items. The Tally sheet contains an expandable table to record inventory receipts and issues. An inventory report is automatically generated as entries are made in the Tally sheet. The guide provides instructions on setting up and using the template to track inventory.

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Elosimple excel inventory User Guide Elosimple excel inventory User Guide A user friendly MS Excel Inventory Records Template; eases preparation of inventory reports Peter Elolo Darrah, C.A.(Gh) Tax Audit, DTRD, Ghana Revenue Authority elodarah@yahoo.com +233244592866 +233202441763 12/19/2012
elosimple excel inventory template FOREWORD ................................................................................................................................... 3 GETTING STARTED ...................................................................................................................... 3 HOW TO OBTAIN A COPY OF THE elosimple excel inventory template.............................. 3 HOW TO SAVE A COPY OF THE elosimple excel inventory template .................................. 3 HOW TO OPEN THE elosimple excel inventory template ...................................................... 3 OVERVIEW OF elosimple EXCEL TEMPLATE ........................................................................... 4 elosimple SHEETS ...................................................................................................................... 4 Index sheet ............................................................................................................................... 4 InventorySetup sheet ............................................................................................................... 5 Tally sheet ................................................................................................................................. 5 Report sheet ............................................................................................................................. 6 HOW TO USE elosimple EXCEL TEMPLATE ............................................................................. 6 INDEXING .............................................................................................................................. 6 TALLYING ............................................................................................................................... 8 Making Entries .................................................................................................................... 8 Accounting Periods ............................................................................................................. 8 Ledgers ................................................................................................................................. 9 INVENTORY REPORT ................................................................................................................... 9 SECURITY....................................................................................................................................... 9 SHORTCUT KEYS ........................................................................................................................ 10 CONCLUSION ............................................................................................................................... 11 BIBLIOGRAPHY............................................................................................................................ 11 2
elosimple excel inventory template FOREWORD elosimple excel inventory template has been designed to ease preparation of inventory records and reports (Andrews). The user is not burdened with the drudgery of preparing columns for inventory heads (items) on several worksheets involved in the record-keeping. All the user needs to do is just to set up the required Chart of Accounts (with Inventory Codes) under desirable groups of inventory. However, the eloInventoryRecords is only effective and accurate to the extent that the formula cells are not inadvertently removed or altered by the user. The user, therefore, is ultimately responsible for the accuracy of the records prepared; using this template. GETTING STARTED HOW TO OBTAIN A COPY OF THE elosimple excel inventory template The template can be obtained from the address on the Index and CashJournal sheets (i.e. +233244592866, +233202441763 or elodarah@yahoo.com). HOW TO SAVE A COPY OF THE elosimple excel inventory template It is important to have MS Office Application which should be of a version not lower than MS Office 2007 before the template can be saved on your system. If there is a lower version like MS Office 2003 on your system, then the template must be saved as MS Office Excel 2003 before copied for transfer (saving). HOW TO OPEN THE elosimple excel inventory template A password request may be prompted at each time that an attempt is made at opening a protected template; which must be supplied by the user. 3
elosimple excel inventory template OVERVIEW OF elosimple EXCEL TEMPLATE elosimple SHEETS We have the following sheets in elosimple excel inventory template Workbook: Index sheet 4
elosimple excel inventory template InventorySetup sheet Tally sheet 5
elosimple excel inventory template Report sheet HOW TO USE elosimple EXCEL TEMPLATE INDEXING All the resources in elosimple excel inventory template workbook are found in the index sheet. Each of these is linked (i.e. hyperlinked) to its location in the workbook. The index page is accessible on any resource in the workbook. The headings for Account Codes in the Tally are linked to the AccountSetUp Sheet. This is activated by just a click on the heading: Allocation. After getting the code click on the Tally link in InventorySetUp to return to the Tally to complete the record. Alternatively, simply click on the sheet tabs: 6
elosimple excel inventory template INVENTORY SETUP This is the most important aspect of the recording process. With reference to the InventorySetup sheet in OVERVIEW, type in the Business or Organisation Name, Start Date, End Date and Accounting year. This is best explained in the table below: CELL NUMBER EXPECTED CONTENT C3 Business or organisation name C4 Start date; e.g. 01/01 E4 End date; e.g. 31/12 or 12/31 for US-English system G4 Accounting or period year: e.g. 2012 Proceed to type in the Inventory codes and respective Inventory items (heads). Those Inventory Codes with respective Inventory Groups found on the template are somewhat suggestive. User may use or apply own codes, items and group of accounts. You may insert more rows while ensuring that you maintain the serial numbering in column A. Utmost care need to be taken when preparing the chart of accounts. The grouping of the codes determines the outlook of the inventory report. 7
elosimple excel inventory template TALLYING There is an expandable tally table in the Tally sheet. We need to observe this table carefully because this is where all the recording and posting of the material/product/item receipts and issues are done: USERS REQUIRED COLUMN RESPONSE FUNCTION Date Make entry Transaction date Supplier/Recipient name or Received from/Issued to Make entry remarks Voucher/Document serial Reference Make entry number RECEIPT/ISSUE(-) Make entry Precede issues with (-) sign. Formulated to post receipts and issues. View balance for inventory Allocation Figure No entry ledger in cell E10 Allocation Make entry Posts inventory names Formulated to post inventory Account No entry names Making Entries The tally table is expandable. Any attempt at entering the date or anything below the last row in the table automatically generates a new row as many times as possible. Any issue should be preceded by a minus (-). It is very important to enter the inventory code. Without the entry of an inventory code such a record can never be complete. Please do not leave empty rows in between the records. Accounting Periods The user can get accounts for any period by selecting from the date heading. 8
elosimple excel inventory template Ledgers The tally table can, also, be manipulated to show transactions for a particular item of inventory and thus produce an inventory ledger. The user can get transactions for a particular account by selecting such an account from the allocation heading. INVENTORY REPORT An inventory report is concurrently produced on each entry or update in the Tally table. Once costs are allocated (i.e. the lower of cost or Net Realisable Value) in the Setup, it is very possible to have the value of Closing or Ending Inventory of any period of your choice; in the accounting year or the whole accounting period and up to date. Like the tally, the report table is also expandable. The report may be saved in a Portable Document Format (PDF) to maintain its originality. SECURITY It is possible to loose all your documents unexpectedly due to the presence of virus in your system; loss of soft materials. How about the possibility of hardware loss through theft, robbery, fire, damage etc.? That is all the more reason one needs to give prior attention to matters of security in a computing environment. To safeguard your work, please do the following from time to time: Check on your systems health status; Go to start and click on control panel and then on Review your computers status or Action Center to check on the effectiveness of your Anti Virus Application. Scan your system and memory sticks (pen drives) on suspicion of a virus. Ensure that you have a backup and get an external storage device i.e. pen drive, hard drive etc for backing up important documents. Hint: do not keep your system (computer) and the secondary drive together. 9
elosimple excel inventory template Important documents or files may be attached to emails or uploaded to a trusted site (e.g. Google Drive) on a dedicated remote server. Save Tally and Inventory Report in a PDF to avoid unwanted alterations. You may put a password on your documents to restrict or prevent access. (Hint: please do remember the password). SHORTCUT KEYS The following shortcut keys could help in saving time spent on performing some basic but important tasks: Press this key To do this F1 Display Help Ctrl+C (or Ctrl+Insert) Copy the selected item Ctrl+X Cut the selected item Ctrl+V (or Shift+Insert) Paste the selected item Ctrl+Z Undo an action Ctrl+Y Redo an action F2 or fn+F2 Rename the selected item Ctrl+home Move the cursor to the beginning of the document Ctrl+Right Arrow Move the cursor to the beginning of the next word Ctrl+Left Arrow Move the cursor to the beginning of the previous word Ctrl+Down Arrow Move the cursor to the beginning of the next paragraph Ctrl+Up Arrow Move the cursor to the beginning of the previous paragraph Ctrl+end Move the cursor to the end of the document Ctrl+Shift with an arrow key Select a block of text Ctrl+A Select all items in a document or window F3 Search for a file or folder Insert a selected row or column in MS Excel (Hint: select row or Ctrl+Shift+plus column by clicking on the row or column label) Delete a selected row or column in MS Excel (Hint: select row or Ctrl+minus column by clicking on the row or column label) Ctrl+;(colon) Insert date in an MS Excel cell 10
elosimple excel inventory template Press this key To do this Ctrl+(apostrophe) Repeat a an action in the previous MS Excel cell above Alt+Tab Switch between open items Alt+F4 Close the active item, or exit the active program CONCLUSION The elosimple excel inventory template is a concept formulated for spreadsheet users desirous of preparing inventory records for any entity. This is no accounting software but rather an idea facilitating spreadsheet accounting. This concept gives the same level of convenience, speed and accuracy offered by any other accounting system. To avert the possibility of unauthorised alterations and loss of data, the following actions are recommended: 1. Set up your savings in a back up mode; go to Save As dialog box, select Excel Workbook, then to tools, select general options and check the Always create backup box, OK and save. 2. Periodically save the Tally and Report sheets, weekly, monthly and quarterly or to your own taste in a Portable Document Format (PDF). This concept is very reliable as it is capable of preventing errors except for the fact that no one else can be held accountable for your own inputs apart from your good self. I am very grateful to all and sundry. BIBLIOGRAPHY Andrews, J. J. Accounting Campus. 11

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Elosimple excel inventory

  • 1. Elosimple excel inventory User Guide Elosimple excel inventory User Guide A user friendly MS Excel Inventory Records Template; eases preparation of inventory reports Peter Elolo Darrah, C.A.(Gh) Tax Audit, DTRD, Ghana Revenue Authority elodarah@yahoo.com +233244592866 +233202441763 12/19/2012
  • 2. elosimple excel inventory template FOREWORD ................................................................................................................................... 3 GETTING STARTED ...................................................................................................................... 3 HOW TO OBTAIN A COPY OF THE elosimple excel inventory template.............................. 3 HOW TO SAVE A COPY OF THE elosimple excel inventory template .................................. 3 HOW TO OPEN THE elosimple excel inventory template ...................................................... 3 OVERVIEW OF elosimple EXCEL TEMPLATE ........................................................................... 4 elosimple SHEETS ...................................................................................................................... 4 Index sheet ............................................................................................................................... 4 InventorySetup sheet ............................................................................................................... 5 Tally sheet ................................................................................................................................. 5 Report sheet ............................................................................................................................. 6 HOW TO USE elosimple EXCEL TEMPLATE ............................................................................. 6 INDEXING .............................................................................................................................. 6 TALLYING ............................................................................................................................... 8 Making Entries .................................................................................................................... 8 Accounting Periods ............................................................................................................. 8 Ledgers ................................................................................................................................. 9 INVENTORY REPORT ................................................................................................................... 9 SECURITY....................................................................................................................................... 9 SHORTCUT KEYS ........................................................................................................................ 10 CONCLUSION ............................................................................................................................... 11 BIBLIOGRAPHY............................................................................................................................ 11 2
  • 3. elosimple excel inventory template FOREWORD elosimple excel inventory template has been designed to ease preparation of inventory records and reports (Andrews). The user is not burdened with the drudgery of preparing columns for inventory heads (items) on several worksheets involved in the record-keeping. All the user needs to do is just to set up the required Chart of Accounts (with Inventory Codes) under desirable groups of inventory. However, the eloInventoryRecords is only effective and accurate to the extent that the formula cells are not inadvertently removed or altered by the user. The user, therefore, is ultimately responsible for the accuracy of the records prepared; using this template. GETTING STARTED HOW TO OBTAIN A COPY OF THE elosimple excel inventory template The template can be obtained from the address on the Index and CashJournal sheets (i.e. +233244592866, +233202441763 or elodarah@yahoo.com). HOW TO SAVE A COPY OF THE elosimple excel inventory template It is important to have MS Office Application which should be of a version not lower than MS Office 2007 before the template can be saved on your system. If there is a lower version like MS Office 2003 on your system, then the template must be saved as MS Office Excel 2003 before copied for transfer (saving). HOW TO OPEN THE elosimple excel inventory template A password request may be prompted at each time that an attempt is made at opening a protected template; which must be supplied by the user. 3
  • 4. elosimple excel inventory template OVERVIEW OF elosimple EXCEL TEMPLATE elosimple SHEETS We have the following sheets in elosimple excel inventory template Workbook: Index sheet 4
  • 5. elosimple excel inventory template InventorySetup sheet Tally sheet 5
  • 6. elosimple excel inventory template Report sheet HOW TO USE elosimple EXCEL TEMPLATE INDEXING All the resources in elosimple excel inventory template workbook are found in the index sheet. Each of these is linked (i.e. hyperlinked) to its location in the workbook. The index page is accessible on any resource in the workbook. The headings for Account Codes in the Tally are linked to the AccountSetUp Sheet. This is activated by just a click on the heading: Allocation. After getting the code click on the Tally link in InventorySetUp to return to the Tally to complete the record. Alternatively, simply click on the sheet tabs: 6
  • 7. elosimple excel inventory template INVENTORY SETUP This is the most important aspect of the recording process. With reference to the InventorySetup sheet in OVERVIEW, type in the Business or Organisation Name, Start Date, End Date and Accounting year. This is best explained in the table below: CELL NUMBER EXPECTED CONTENT C3 Business or organisation name C4 Start date; e.g. 01/01 E4 End date; e.g. 31/12 or 12/31 for US-English system G4 Accounting or period year: e.g. 2012 Proceed to type in the Inventory codes and respective Inventory items (heads). Those Inventory Codes with respective Inventory Groups found on the template are somewhat suggestive. User may use or apply own codes, items and group of accounts. You may insert more rows while ensuring that you maintain the serial numbering in column A. Utmost care need to be taken when preparing the chart of accounts. The grouping of the codes determines the outlook of the inventory report. 7
  • 8. elosimple excel inventory template TALLYING There is an expandable tally table in the Tally sheet. We need to observe this table carefully because this is where all the recording and posting of the material/product/item receipts and issues are done: USERS REQUIRED COLUMN RESPONSE FUNCTION Date Make entry Transaction date Supplier/Recipient name or Received from/Issued to Make entry remarks Voucher/Document serial Reference Make entry number RECEIPT/ISSUE(-) Make entry Precede issues with (-) sign. Formulated to post receipts and issues. View balance for inventory Allocation Figure No entry ledger in cell E10 Allocation Make entry Posts inventory names Formulated to post inventory Account No entry names Making Entries The tally table is expandable. Any attempt at entering the date or anything below the last row in the table automatically generates a new row as many times as possible. Any issue should be preceded by a minus (-). It is very important to enter the inventory code. Without the entry of an inventory code such a record can never be complete. Please do not leave empty rows in between the records. Accounting Periods The user can get accounts for any period by selecting from the date heading. 8
  • 9. elosimple excel inventory template Ledgers The tally table can, also, be manipulated to show transactions for a particular item of inventory and thus produce an inventory ledger. The user can get transactions for a particular account by selecting such an account from the allocation heading. INVENTORY REPORT An inventory report is concurrently produced on each entry or update in the Tally table. Once costs are allocated (i.e. the lower of cost or Net Realisable Value) in the Setup, it is very possible to have the value of Closing or Ending Inventory of any period of your choice; in the accounting year or the whole accounting period and up to date. Like the tally, the report table is also expandable. The report may be saved in a Portable Document Format (PDF) to maintain its originality. SECURITY It is possible to loose all your documents unexpectedly due to the presence of virus in your system; loss of soft materials. How about the possibility of hardware loss through theft, robbery, fire, damage etc.? That is all the more reason one needs to give prior attention to matters of security in a computing environment. To safeguard your work, please do the following from time to time: Check on your systems health status; Go to start and click on control panel and then on Review your computers status or Action Center to check on the effectiveness of your Anti Virus Application. Scan your system and memory sticks (pen drives) on suspicion of a virus. Ensure that you have a backup and get an external storage device i.e. pen drive, hard drive etc for backing up important documents. Hint: do not keep your system (computer) and the secondary drive together. 9
  • 10. elosimple excel inventory template Important documents or files may be attached to emails or uploaded to a trusted site (e.g. Google Drive) on a dedicated remote server. Save Tally and Inventory Report in a PDF to avoid unwanted alterations. You may put a password on your documents to restrict or prevent access. (Hint: please do remember the password). SHORTCUT KEYS The following shortcut keys could help in saving time spent on performing some basic but important tasks: Press this key To do this F1 Display Help Ctrl+C (or Ctrl+Insert) Copy the selected item Ctrl+X Cut the selected item Ctrl+V (or Shift+Insert) Paste the selected item Ctrl+Z Undo an action Ctrl+Y Redo an action F2 or fn+F2 Rename the selected item Ctrl+home Move the cursor to the beginning of the document Ctrl+Right Arrow Move the cursor to the beginning of the next word Ctrl+Left Arrow Move the cursor to the beginning of the previous word Ctrl+Down Arrow Move the cursor to the beginning of the next paragraph Ctrl+Up Arrow Move the cursor to the beginning of the previous paragraph Ctrl+end Move the cursor to the end of the document Ctrl+Shift with an arrow key Select a block of text Ctrl+A Select all items in a document or window F3 Search for a file or folder Insert a selected row or column in MS Excel (Hint: select row or Ctrl+Shift+plus column by clicking on the row or column label) Delete a selected row or column in MS Excel (Hint: select row or Ctrl+minus column by clicking on the row or column label) Ctrl+;(colon) Insert date in an MS Excel cell 10
  • 11. elosimple excel inventory template Press this key To do this Ctrl+(apostrophe) Repeat a an action in the previous MS Excel cell above Alt+Tab Switch between open items Alt+F4 Close the active item, or exit the active program CONCLUSION The elosimple excel inventory template is a concept formulated for spreadsheet users desirous of preparing inventory records for any entity. This is no accounting software but rather an idea facilitating spreadsheet accounting. This concept gives the same level of convenience, speed and accuracy offered by any other accounting system. To avert the possibility of unauthorised alterations and loss of data, the following actions are recommended: 1. Set up your savings in a back up mode; go to Save As dialog box, select Excel Workbook, then to tools, select general options and check the Always create backup box, OK and save. 2. Periodically save the Tally and Report sheets, weekly, monthly and quarterly or to your own taste in a Portable Document Format (PDF). This concept is very reliable as it is capable of preventing errors except for the fact that no one else can be held accountable for your own inputs apart from your good self. I am very grateful to all and sundry. BIBLIOGRAPHY Andrews, J. J. Accounting Campus. 11