On-Hand Inventory Liability Spreadsheet:
There is not currently a report that shows both On-Hand Inventory and Retail Price. The best way I’ve found to get that information on one report is to combine the Product Export spreadsheet (accessed from Settings > Import/Export > Product Exporter > (I recommend changing the Format of the report to Advanced as opposed to Regular because the former includes things like COGS).
Next, we need some current inventory numbers. Those can be found from: Reports > (hover over) Inventory > Inventory Summary.
We’ll use Google Sheets (free for everyone) to create a spreadsheet with three tabs:
- Dashboard
- InventorySummary
- ProductExporter
Here’s a sample version of what I’m talking about here
The magic happens on the Dashboard sheet. The Columns on the Dashboard in my example are:
- Column A: Google Sheets has an awesome formula called UNIQUE. Just enter in A1: =UNIQUE([select Column B from the InventorySummary sheet]) and Sheets will just return the set of unique values from that sheet. I like doing it this way because it controls for multiple Inventory Pools. If you were to just pull all of the SKUs off of the ProductExporter, you’d pull in all of the SKUs that you have even though many of them may not use inventory and that’s the whole point of this thing.
- Column B: Total Inventory here is just calculated by using a =SUMIF formula. In cell B2, for example, you have a SUMIF formula that says in English: go look at the InventorySummary sheet and sum all of the times this SKU in cell B1 shows up.
- Column C: This is the really fun one: Proper use of =INDEX(MATCH()) will make people believe you have magical powers. In English, this formula says: Ok, take the SKU in Column A and go find that SKU on the ProductExporter sheet. When you get there and you find the SKU, march down the row and retrieve this other piece of information I need. In the case of Column C, that information is the Retail Price.
- Column D: Extended Retail Price is pretty easy to grasp. This is just the inventory sum multiplied by the price.
- Column E: This is the same a Column C except this time, the formula has orders to go find and retrieve the COGS.
- Column F: Extended COGS is the same as Extended Retail Price except for the obvious: It uses COGS as opposed to Retail Price.
Please let me know what other kinds of non-standard figures or metrics you guys calculate on a regular basis (or want to calculate on a regular basis) and I’ll do a write-up on it. This one was just meant to test the waters and subtly introduce a couple of powerful formulas.
Thanks!