Inventory control for small business utilizing an Excel chart created by Tom Shay www.profitsplus.org

1. Presented by Tom Shay of
Profits Plus Solutions
727-464-2182
tomshay@profitsplus.orgwww.profitsplus.org

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4. 12/31
ASSETS
Current Assets:
Cash on hand $1,500.00
Checking Account $17,500.00
Savings Account $3,050.00
Accounts Receivable $14,215.87
Bank Card Receivable $1,340.34
Inventory $275,654.23
Total Current Assets: $313,260.44
Investments:
Cooperative Stock $23,125.46
Cooperative Notes $12,597.47
Total Investments: $35,722.93
Long Term Assets:
Property and Equipment:
Fixtures and Equipment $126,245.11
Building $325,465.88
Total Property and Equipment: $451,710.99
Accumulated Depreciation: $207,950.25
Total Net Property and Equipment: $117,515.63
Other Assets:
Utility Deposits $1,700.00
Total Other Assets: $1,700.00
Total Assets: $468,199.00
LIABILITIES AND EQUITY
Current Liabilities:
Accounts Payable $47,850.00
Building mortage - current $24,000.00
Note payable - current $45,000.00
Long Term Liabilites:
Building mortgage $62,000.00
Note payable $84,000.00
Total Liabilities: $262,850.00
Stockholders' Equity
Capital Stock $65,000.00
Retained Earnings $114,664.00
Current Income $25,685.00
Total Stockholders' Equity $205,349.00
Total Liabilities and Equity $468,199.00
Cash: $1,500.00
Inventory
$275,654.73
Inventory turns:
3.51
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6. 12/31
ASSETS
Current Assets:
Cash on hand $16,500.00
Checking Account $17,500.00
Savings Account $3,050.00
Accounts Receivable $14,215.87
Bank Card Receivable $1,340.34
Inventory $260,654.23
Total Current Assets: $313,260.44
Investments:
Cooperative Stock $23,125.46
Cooperative Notes $12,597.47
Total Investments: $35,722.93
Long Term Assets:
Property and Equipment:
Fixtures and Equipment $126,245.11
Building $325,465.88
Total Property and Equipment: $451,710.99
Accumulated Depreciation: $207,950.25
Total Net Property and Equipment: $117,515.63
Other Assets:
Utility Deposits $1,700.00
Total Other Assets: $1,700.00
Total Assets: $468,199.00
LIABILITIES AND EQUITY
Current Liabilities:
Accounts Payable $47,850.00
Building mortage - current $24,000.00
Note payable - current $45,000.00
Long Term Liabilites:
Building mortgage $62,000.00
Note payable $84,000.00
Total Liabilities: $262,850.00
Stockholders' Equity
Capital Stock $65,000.00
Retained Earnings $114,664.00
Current Income $25,685.00
Total Stockholders' Equity $205,349.00
Total Liabilities and Equity $468,199.00
Cash: $16,500.00
Inventory
$260,654.73
Inventory turns:
3.65
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11. Inventory levels per month

12. Sales percentage per month

13. Put the two side by side

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15. If you were to create a plan to
match the two

17. 1 Profits+Plus Open to Buy © Month 1 Month 2 Month 3 Month 4
2 Inventory - Beginning of Month E/P $155,000 $149,250 $151,930 $156,880
3 Anticipated Sales E $47,000 $48,000 $50,000 $50,000
4 P.O. # P.O. Written To:
5 Purchase Order #1 E $1,000 $2,000 $2,500 $1,000
35 Purchase Order #31 E
36 Purchase Order #32 E
37 Purchase Order #33 E
38 Total Purchases P $24,800 $33,400 $37,200 $32,000
39
40 Inventory Available for Sale P $179,800 $182,650 $189,130 $188,880
41
42 Gross Margin E 35.00% 36.00% 35.50% 37.00%
43 Cost of Goods Sold P $30,550 $30,720 $32,250 $31,500
44
45 Inventory (Actual)- End of Month P $149,250 $151,930 $156,880 $157,380
46
47 Desired Inventory - End of Month E $150,000 $152,000 $157,000 $157,000
48
49 Open to Buy for this Month P $750 $70 $120 -$380

18. 1 Profits+Plus Open to Buy © Month 1 Month 2 Month 3 Month 4
2 Inventory - Beginning of Month E/P $155,000 $149,250 $151,930 $156,880
3 Anticipated Sales E $47,000 $48,000 $50,000 $50,000

19. 1 Profits+Plus Open to Buy © Month 1 Month 2 Month 3 Month 4
42 Gross Margin E 35.00% 36.00% 35.50% 37.00%
43 Cost of Goods Sold P $30,550 $30,720 $32,250 $31,500
44
45 Inventory (Actual)- End of Month P $149,250 $151,930 $156,880 $157,380
46
47 Desired Inventory - End of Month E $150,000 $152,000 $157,000 $157,000

20. 


1 Profits+Plus Open to Buy © B C Month 1 Month 2 Month 3 Month 4
4 P.O. # P.O. Written To:
5 Purchase Order #1 E $1,000 $2,000 $2,500 $1,000
6 Purchase Order #2 E $3,500 $5,500 $8,000 $5,500
7 Purchase Order #3 E $2,000 $3,900 $3,700 $3,000
8 Purchase Order #4 E $3,000 $7,000 $4,700 $8,000
9 Purchase Order #5 E $2,000 $6,000 $5,500 $4,500
10 Purchase Order #6 E $4,500 $2,500 $8,000 $5,000

21. 1 Profits+Plus Open to Buy © Month 1 Month 2 Month 3 Month 4
2 Inventory - Beginning of Month E/P $155,000 $149,250 $151,930 $156,880
3 Anticipated Sales E $47,000 $48,000 $50,000 $50,000

22. 1 Profits+Plus Open to Buy © Month 1 Month 2 Month 3 Month 4
35 Purchase Order #31 E
36 Purchase Order #32 E
37 Purchase Order #33 E
38 Total Purchases P $24,800 $33,400 $37,200 $32,000

23. 1 Profits+Plus Open to Buy © Month 1 Month 2 Month 3 Month 4
42 Gross Margin E 35.00% 36.00% 35.50% 37.00%
43 Cost of Goods Sold P $30,550 $30,720 $32,250 $31,500
44
45 Inventory (Actual)- End of Month P $149,250 $151,930 $156,880 $157,380
46
47 Desired Inventory - End of Month E $150,000 $152,000 $157,000 $157,000
48
49 Open to Buy for this Month P $750 $70 $120 -$380

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26. 1 Profits+Plus Open to Buy © Month 1 Month 2 Month 3 Month 4
42 Gross Margin E 35.00% 36.00% 35.50% 37.00%
43 Cost of Goods Sold P $30,550 $30,720 $32,250 $31,500
44
45 Inventory (Actual)- End of Month P $149,250 $151,930 $156,880 $157,380
46
47 Desired Inventory - End of Month E $150,000 $152,000 $157,000 $157,000
48
49 Open to Buy for this Month P $750 $70 $120 -$380

27. Sales increase
Sales decrease
You under spend one month
You over spend one month
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28. Your margin increases
Your margin decreases
You take mark downs
You take additional mark ups
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29. You decide you want to increase
inventory
You decide you want to decrease
inventory
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30. on
in
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32. If you are always
putting out fires in
your business,
you may be the
person carrying the
matches!
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