{"id":1658,"date":"2019-09-13T20:48:14","date_gmt":"2019-09-13T20:48:14","guid":{"rendered":"https:\/\/www.shipbob.com\/au\/blog\/inventory-sheet-template\/"},"modified":"2025-09-28T20:50:43","modified_gmt":"2025-09-28T20:50:43","slug":"inventory-sheet-template","status":"publish","type":"blog","link":"https:\/\/www.shipbob.com\/au\/blog\/inventory-sheet-template\/","title":{"rendered":"Inventory Sheet Template and Definition: Why Do I Need an Inventory Checklist?"},"content":{"rendered":"\n

Table of Contents<\/p>

** Minutes<\/p><\/div><\/div>\n

What is an inventory sheet?<\/a><\/p>\n\n\n\n

6 factors to include on your inventory checklist<\/a><\/p>\n\n\n\n

Inventory sheet template<\/a><\/p>\n\n\n\n

Tips when building your inventory sheet<\/a><\/p>\n\n\n\n

Let ShipBob professionals handle your inventory accounting<\/a><\/p>\n\n\n\n

What\u2019s next?<\/a><\/p>\n<\/div>\n\n\n\n

As a business with physical goods, properly managing your inventory is a crucial aspect of your business. It may seem tedious to count for every single item you own every day, but it needs to be done. <\/span><\/p>\n\n\n\n

With inaccurate inventory counts, your business can lose money and not meet customer expectations (especially if they purchase products that don\u2019t give an out of stock notification). Plus, your accounting team will have to keep correcting the books to account for inaccuracies, which can cause more tax issues than you ever want to deal with.<\/span><\/p>\n\n\n\n

You will also learn how <\/span>3PL<\/span><\/a> services help businesses manage inventory so they can focus on other areas of your business.<\/span><\/p>\n\n\n\n

What is an inventory sheet?<\/h2>\n\n\n\n

An inventory sheet takes on many different meanings for each type of business. Regardless of business type, an inventory sheet is a checklist of inventory type, amount you have, price per unit, and SKU or serial number. <\/span><\/p>\n\n\n\n

Keeping track of inventory<\/h3>\n\n\n\n

Inventory sheets help you <\/span>keep track of your inventory<\/span><\/a> on hand. Depending on the size of your business, this can be done by the owner or an employee who makes it part of their daily duties to count inventory. <\/span><\/p>\n\n\n\n

6 factors to include on your inventory checklist<\/h2>\n\n\n\n

You can make your inventory sheet as complex or simple as you want. At its core, here are the basic elements you\u2019ll want to include.<\/span><\/p>\n\n\n\n

1. Item<\/h3>\n\n\n\n

You need to list every individual item on your inventory sheet, including variations. For example, if you\u2019re selling liquid drinks, then the 16 ounce and 20 ounce versions each get their own line item on the inventory sheet. You can use that description or the name of the product (e.g., \u201c16 oz. canned water\u201d).<\/span><\/p>\n\n\n\n

2. SKU or Serial Number<\/h3>\n\n\n\n

It\u2019s easier to track your products through SKUs<\/a> instead of solely relying on the item name. A SKU is an alphanumeric code used to identify a specific product. SKUs represent different product characteristics such as colour, size, and brand, and are used for inventory management<\/a>.<\/span><\/p>\n\n\n\n

For example, let\u2019s say your business sells the following shirt with different sizes and varying quantities currently available:<\/span><\/p>\n\n\n\n