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2. Build Your Expenses Spreadsheet

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Transcript

In the previous video, you created a new spreadsheet and gave it a title.

In this video, you will list the items you sell and record data on what you have in stock and what you have sold.

To begin, label the first column “Product Type.”

Beneath that heading, list the products or materials you sell.

As you list each item, some text may overlap between columns.

To keep each item visible, wrap the text.

To do this, select the entire column.

Then, wrap the text, so it fits in the cell.

Now, your inventory is easier to see.

Next, add headings to the right of the “Product Type” column.

Label the next column “Original Stock.”

This shows the number of each product you had available when you launched your business.

For example, if you created 25 tablet stands, put the number 25 in this row.

Type “Total Sold” at the top of the next column.

List how many of each item you have sold, even if it is 0.

Label the next column “Current Stock.”

Add the header, but leave the rest blank.

Now, add a label for Cost Per Unit.

This is how much it costs to make your product.

Complete this column based on your expenses per item.

The “Retail Price” column shows the amount of money you charge your customers.

Next, add a column heading for “Margin.”

Leave this column blank.

You will fill it in the next video.

To make your spreadsheet easier to read, make the headings stand out.

Select the last three columns. Then, adjust the format to display the numbers as amounts of money.

Now, it’s your turn: Label the columns in your spreadsheet.

Fill out each column, except for “Current Stock” and “Margin.”

Wrap the text.

Make the column headings bold.

And change the formatting to currency.

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Instructions
  1. Label the columns in your spreadsheet.
  2. Fill out each column, except for “Current Stock” and “Margin.”
  3. Wrap the text.
  4. Change the formatting in the columns to currency.
  5. Make the column headers bold.