Incoming & Outgoing Tracker Template

What Is an Incoming & Outgoing Tracker Template?

It is a simple template that helps store owners and small businesses track incoming and outgoing goods and regularly determine the remaining inventory. Knowing the remaining quantity helps the business identify which products need to be restocked, so the merchant avoids shortages and customers can still find what they need, especially for core items.

The template not only helps the store track products; it also helps determine each product's revenue and regularly identify the value of goods in stock. On the main Products sheet, the store's current selling value appears for each product. The incoming quantity (purchased quantity) and the outgoing quantity (sold quantity) also appear for the year, month, accounting period, or any standard period suitable for the store.

The quantity of goods available in the warehouse is expressed as inventory and is calculated by subtracting outgoing quantities from incoming quantities. For example, if you purchase 100 boxes and distribute 80 boxes to small retailers, the remaining inventory is 20 boxes. If you purchased each box for 10 SAR and sell it for 13 SAR, the current selling value of the inventory is 260 SAR.

What Are the Elements of an Incoming & Outgoing Tracker Template?

The Incoming & Outgoing Tracker Template consists of three interconnected sheets. Any change on the main sheet, Products, affects the Incoming or Outgoing sheet and vice versa. The sheets include the following elements:

• Code: A symbol that represents the product. When you enter the code in a cell, the product details appear, including the item name, price, and unit form.
• Item: Regardless of the products your company or store offers, each product should have a fixed, clear name to avoid confusion or disagreement when used.
• Unit form: The unit form differs from one product to another. Some products use boxes or cartons, while others are recorded as bottles or bags. The unit form makes classification, storage, and inventory review by department easier.
• Quantity: This element appears on all sheets. Every incoming or outgoing transaction links to a specific quantity, which is reflected in the remaining inventory quantity.
• Price: This is a core element found on every sheet. Naturally, the incoming price is usually lower than the outgoing price, and the Products sheet lists the outgoing price so the business can estimate the inventory's value if sold. However, the incoming price may sometimes exceed the outgoing price, depending on supply and demand in the market. This template is not responsible for calculating profit or loss.
• Total: The total value of product X, whether incoming or outgoing.
• Date: One of the most important elements of the template. It shows when each shipment was supplied and when it was distributed to merchants.

How to Use an Incoming & Outgoing Tracker Template

To use the template efficiently, follow these steps:

1- Identify and classify the products you offer

Product coding is one of the most important processes because it simplifies later stages, including inventory counting, review, and identifying each product's profit. The coding process may follow the company's main classification. For example, you can classify products into dairy products, legumes, frozen foods, spices, and so on. Each category can then have a Latin letter or a unique number representing it. After classification, place all products with their codes on the Products sheet.

2- Track the current selling price

Markets change constantly, especially in economically unstable countries. You should know the current and fair price of the product offered to the public. Record it on the Products sheet.

3- Record shipments regularly

Specify the date on which you received the shipment, then record the received quantity and the agreed unit price on the Incoming sheet. Keep in mind that shipments may arrive in tons, kilograms, or cubic meters, while you may sell them in different units. You should define the relationship between each unit and the other so that each incoming quantity has an equivalent outgoing quantity, and vice versa, in matching value. This helps prevent theft or embezzlement attempts that may occur in the warehouse.

4- Record outgoing goods periodically

Whenever a merchant or distributor requests a new shipment from your company, record the shipment as outgoing on the Outgoing sheet the moment it leaves the warehouse. The remaining product quantity appears automatically on the Products sheet. You can then review it immediately to confirm whether the quantity recorded in the template matches the actual quantity available in the warehouse.

Why Is an Incoming & Outgoing Tracker Template Important?

The importance of the Incoming & Outgoing Tracker Template comes from several reasons:

1- Accurate inventory tracking

One of the template's main advantages is that it tracks each incoming or outgoing shipment separately, showing the date goods entered or left the warehouse and their value at that time. The total quantities then appear on the Products sheet. For example, if 100 units of product Y entered the warehouse on January 1, 2024, another 500 units entered on May 1, 2024, 300 units left the warehouse on June 1, 2024, and 200 units left on July 5, 2024, the current quantity appearing on the Products sheet would be 100 units, which is the remaining inventory. These movements would appear as two rows on the Incoming sheet and two rows on the Outgoing sheet, while the final result appears as one row only on the Products sheet.

2- Identifying revenue generated by each product

By identifying each product's revenue across different outgoing shipments, you can aggregate it to determine the total over a specific period.

3- Knowing the most in-demand goods

By reviewing the dates and quantities of supply orders requested by merchants or distributors from your company, you can identify the most in-demand and least in-demand products. This helps guide your purchasing decisions next time.

Who Benefits from an Incoming & Outgoing Tracker Template?

The template benefits suppliers, distributors, merchants, and small business owners. It helps them monitor operations regularly and manage warehouses and stores. You can prepare a separate copy for each branch or warehouse.