thread Reminder to All Retailers: Generate Year-End Inventory Report TODAY! in Retail & eCommerce

Reminder to All Retailers: Generate Year-End Inventory Report TODAY!

TCSlaguna — Mon, 01 Jan 2024 04:31:36 GMT

Hello Everyone! It's January 1st!

Friendly reminder for all retailers: Remember to generate your year-end inventory report today.

Dashboard -> Items -> Item Library -> Actions -> Export Library -> Export, All Items, Excel

Once you have the report, you can run a formula to calculate cost of total inventory:

In cell AG2, label: Total Cost

In cell AG3, type: =Y3*AB3 (Default Unit Cost * Current Quantity)

Double click Fill Handle in AG3 to calculate for all rows

Go to end of AG column, click on empty cell below last value, click the AutoSum button

While you can get the dollar value of your inventory from Dashboard -> Reports -> Inventory Reports -> Projected Profit, it is always good to have record of the physical inventory on hand January 1st of each year. Also, you cannot run the Projected Profit report for a prior date.

Hope the above information helps! Let me know if you have any questions.

Have a better way to calculate year-end inventory? Let me know below!

Thanks!

Re: Reminder to All Retailers: Generate Year-End Inventory Report TODAY!

maxpete — Mon, 01 Jan 2024 14:38:23 GMT

Great tip and call out! Happy new year and thank you @TCSlaguna!

Re: Reminder to All Retailers: Generate Year-End Inventory Report TODAY!

sunflowerstuiod — Mon, 01 Jan 2024 15:08:17 GMT

When I entered the formula a yellow triangle popped up and the message was “A value used in the formula is the wrong data type.”

Re: Reminder to All Retailers: Generate Year-End Inventory Report TODAY!

maxpete — Tue, 02 Jan 2024 12:50:15 GMT

@TCSlaguna just tagging you here in case you have tips!

Re: Reminder to All Retailers: Generate Year-End Inventory Report TODAY!

TCSlaguna — Tue, 02 Jan 2024 21:24:28 GMT

@sunflowerstuiod Can you please send a screenshot? (You can black out any company info if necessary)

Re: Reminder to All Retailers: Generate Year-End Inventory Report TODAY!

Davidmac — Wed, 03 Jan 2024 21:20:11 GMT

@TCSlaguna This isn't "cost" as square doesn't allow you to enter costs, only selling price, or am I missing something?

Re: Reminder to All Retailers: Generate Year-End Inventory Report TODAY!

TCSlaguna — Thu, 04 Jan 2024 03:02:07 GMT

@Davidmac Square for Retail allows you to enter costs:

Perhaps you are referring to Square POS?