Q & A: Inventory Tracking in Excel vs Online Programs

Candace asks:

Q:  Does this inventory tracking/pricing workbook replace the other software based jewelry systems like benchworks, craftybase, jewelry manager, etc?

Would I be able to add SKU numbers for my finished pieces and variations if I use different gemstones? I am looking for an easy to use and maintain inventory system. Currently, I am using Excel with my own spreadsheet.

I’ve used benchworks, jewelry manager, and craft manager, but could not keep up with them. I find spreadsheets easier to maintain.

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Accounting for Jewelers’ Inventory Tracking in Excel can replace software based jewelry systems

A:  Thank you for asking. Yes, the Inventory Tracking and Pricing Workbook does replace any other inventory program and works exceptionally well if you’re comfortable with excel. It’s pre-formatted and pre-formulated, so as long as you can copy and Paste Special the formula when adding more lines, and check the cells to make sure the formula copied correctly, then you’re good to go.

For those that like spreadsheets it can be very easy to use and easy to keep accurate.

This Workbook is not a good option for you, if:

1. You don’t like Excel
2. You process a large amount of different inventory items, such as over 100 Finished Pieces or Skus in a given year.

This Workbook is good for you, if:

1. You do like Excel
2. You make a Limited Collection of Repeatable Items, for Retail or Wholesale, or
3. You make One of Kind Custom Pieces

Click here to see a full comparison of inventory software programs.

There is more flexibility with a spreadsheet, and yes, you can create variants for finished goods based on gemstone type, color plays, chain length, ring sizes, and more. You can also add pictures to the spreadsheets, and customize it specifically to your business.

The advantage to the online programs is that they are a nice facade to a spreadsheet, so if you like pressing buttons and following prompts, then inventory software is what you should use.

Whether you use spreadsheets or inventory software, you have to maintain it at the very minimum on a monthly basis. The more it gets behind the more difficult it is to catch up and keep correct. If you’re able to set time aside each week – even better!

View the spreadsheet in our shop and watch the video. The video shows what to expect in our workbook and an overview of how to use it. Supplemental instructions are included in the download. If you decide to buy it, please feel free to schedule a free consult after you try it out to answer any questions that come up about it.