Elosimple excel inventory

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

[email protected]

+233244592866

+233202441763

12/19/2012

mailto:[email protected]

elosimple excel inventory template

2

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


3

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 [email protected]).

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.

mailto:[email protected]


4

OVERVIEW OF elosimple EXCEL TEMPLATE

elosimple SHEETS

We have the following sheets in elosimple excel inventory template Workbook:

Index sheet


5

InventorySetup sheet

Tally sheet


6

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:


7

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.


8

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:

COLUMN

USER’S REQUIRED

RESPONSE FUNCTION

Date Make entry Transaction date

Received from/Issued to Make entry

Supplier/Recipient name or

remarks

Reference Make entry

Voucher/Document serial

number

RECEIPT/ISSUE(-) Make entry Precede issues with (-) sign.

Allocation Figure No entry

Formulated to post receipts

and issues.

View balance for inventory

ledger in cell E10

Allocation Make entry Posts inventory names

Account No entry

Formulated to post inventory

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.


9

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 system’s health status; Go to start and click on

‘control panel’ and then on ‘Review your computer’s 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.


10

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

Ctrl+Shift+plus

Insert a selected row or column in MS Excel (Hint: select row or

column by clicking on the row or column label)

Ctrl+minus

Delete a selected row or column in MS Excel (Hint: select row or

column by clicking on the row or column label)

Ctrl+;(colon) Insert date in an MS Excel cell

mshelp://windows/?id=332d7acf-bb07-4e33-8adb-bc8bd6c4477c#gtmt_window_def


11

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.

Documents

Elosimple excel inventory