Free Shopify Inventory Spreadsheet

A ready-made Excel template for businesses that make what they sell on Shopify — raw materials with landed costs, a record of every production run, finished goods, orders, and the COGS number Shopify never shows you.

Raw materials tracked with fully landed unit costs
Production runs logged, so cost per unit is calculated not guessed
Orders and year-end COGS in one place, ready for tax time
Free to download — Excel, Google Sheets, and Numbers

Free Shopify inventory spreadsheet showing material stock, production runs and cost per unit

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What's included

Shopify counts listings. It doesn't count what they're made of.

When someone buys, Shopify takes one off the listing quantity. It has no idea that sale consumed 200g of wax, a jar, a lid and a label — so it can't tell you what the unit cost, and it can't tell you when you're about to run out of the thing you actually need. This template tracks the layer underneath.

Materials, not just listings

Every input you buy gets a row — components, packaging, consumables — with the quantity you hold and what it genuinely cost to get it onto your shelf.

Landed unit cost, freight and tax included
Tracking unit per material — g, ml, m, or each
Preferred supplier per line, for reordering

A record of every production run

The tab most inventory templates leave out. Log what you made and what it consumed, and cost per unit stops being an estimate you revise whenever the answer is uncomfortable.

One row per material consumed per batch
Total usage cost calculated per run
Cost per unit that reflects what you actually paid

COGS you can hand to an accountant

The Reports tab tallies revenue, material purchases, COGS and start and end-of-year inventory value — the figures a product business is asked for, calculated from the rows you already entered.

Total COGS for the year, calculated
Opening and closing inventory valuation
Orders from any channel, not only Shopify

Template walkthrough

What each tab of the spreadsheet tracks

The workbook is divided into seven linked tabs, each covering one part of your inventory workflow. It's built to run over a single calendar year, so it can calculate your start and end-of-year inventory values. Calculated columns are shaded in the file — enter your data everywhere else and let the formulas do the work.

Material Inventory

A complete list of the materials you hold — the foundation the rest of the workbook builds on. For each one:

SKU and name — identify each material clearly (e.g. "Soy Wax — Golden Brands 464")
On-hand quantity — current stock, updated as you count
Stock status — a calculated in-stock / out-of-stock flag
Unit cost — the fully landed cost per tracking unit
Tracking unit — grams, millilitres, metres, or units — whatever you actually produce in
Preferred vendor — where you usually buy it
Starting quantity and value — feeds your start-of-year valuation

Personal Use

A log for anything withdrawn from stock that didn't go into a product you sold — samples, testing, or personal use. Keeping it separate means your COGS only reflects what genuinely went into production:

Date removed and material — what left inventory, and when
Quantity and unit cost — valued at the material's landed cost
Total cost — calculated, and deducted from your year-end tallies

Purchases

A full record of every material purchase — one row per item bought, so five items from one supplier means five rows:

Purchase date and vendor — when and where you bought it
Item cost — what you paid, excluding shipping and tax
Quantity purchased — in the material's tracking unit
Proportional shipping and tax — allocated per item across the order
Landed unit cost — calculated automatically: the true cost per unit including freight

Manufactures

The step most inventory spreadsheets skip entirely: recording what you made, and which materials each production run consumed:

Manufacture date — when the run was made
Product made — SKU and name of the finished product
Materials used — one row per material consumed in the run
Quantity used — how much to deduct from stock
Total usage cost — calculated per row, building your cost per batch

Product Inventory

Your finished goods — what's made, priced, and ready to sell:

SKU, name, and category — identify each sellable product
Unit price — your retail price per item
Manufacture cost — the material cost to make one unit, tallied from your Manufactures tab
On-hand quantity and stock status — what's actually available to sell
Inventory values — calculated starting and current stock value

Orders

Every sale, recorded one product per row so manufacture costs can be tallied against revenue:

Order date and ID — match rows back to your sales channels
Product and quantity sold — what went out the door
Unit manufacture cost — feeds your COGS tally for the year
Tax and shipping — proportional amounts per line item
Totals — calculated line totals and grand totals

Reports

The tab that makes the rest worth maintaining — your key totals, tallied automatically through the year. Every figure here is calculated:

Revenue totals — orders and tax, from your Orders tab
Expense totals — purchases and tax, from your Purchases tab
Inventory valuation — start-of-year value, plus purchases, less personal use and cost of product sold
Year-to-date inventory total — the number your accountant asks for at tax time

Every inventory figure is derived from the unit costs you enter during the year, so the accuracy of your reports depends on the accuracy of those costs.

Know what every Shopify sale actually cost you

Download the free spreadsheet and you'll have materials, production runs, orders and COGS tracked from today — no software required.

Download the free spreadsheet →

What a Shopify inventory spreadsheet is for

A Shopify inventory spreadsheet tracks stock, costs and order history outside Shopify, so you have the numbers the platform doesn't hold. Shopify tracks listing quantities well. What it doesn't track is the two-layer problem every manufacturer has: the inputs you buy and the outputs you sell are different things, and only one of them appears in your store admin.

That gap is where margin goes missing. A product can be your best seller by revenue and your worst by contribution, and nothing in the Shopify dashboard will tell you, because the dashboard has never seen what the product is made of. The same gap shows up at tax time, when you need a defensible COGS figure and the only record of what you spent is a folder of supplier invoices.

This workbook is the other half. Bring your materials in with a tracking unit and a landed cost, log each production run, and record orders as they come. The Reports tab then gives you revenue, purchases, COGS and inventory valuation without you assembling any of it by hand.

One habit worth building early: enter the landed cost, not the sticker price. Freight and import charges on a materials order are frequently 10–20% of what you paid, and leaving them out understates every unit cost downstream — which means overstating every margin.

Where a spreadsheet runs out

Spreadsheets are a genuinely good place to start, and for a single channel and a short materials list they can run for years. The limits are predictable ones. Every Shopify order is typed in by hand. Every purchase is another row. Nothing warns you that a material is nearly gone, because a spreadsheet only tells you things when you go looking.

The usual breaking point is reconciliation. Someone who meant to keep the file current finds themselves three months behind at tax time, with stock figures that no longer match what's on the shelf and no easy way to work out where they diverged. Adding a second sales channel roughly doubles the maintenance and halves the chance it stays accurate.

If you're not there yet, this is a genuinely useful tool — and the discipline it teaches you is the part that transfers. Same materials, same units, same costing logic, whatever you eventually run it in.

Who uses this

Who should use this Shopify inventory template?

Built for Shopify sellers who manufacture rather than resell — where a sale consumes materials, and the cost of those materials is the number nobody has to hand.

Small-batch producers

Food, cosmetics, candles, supplements — anything made in runs from a recipe. The Manufactures tab is the one that matters here.

Cut-and-sew and assembled goods

Where a finished unit is a list of components rather than a single input. Tracking each component separately is what makes the unit cost hold up.

Shopify sellers adding a second channel

The Orders tab records sales from anywhere, so wholesale and marketplace orders sit alongside Shopify ones and the COGS total covers the whole business.

Anyone facing their first real tax return

The point where "roughly what it cost" stops being an acceptable answer, and opening and closing inventory values are suddenly something you need on paper.

Frequently Asked Questions

What does a Shopify inventory spreadsheet track?

Raw materials with landed unit costs and stock levels, material purchases, production runs and what each consumed, finished goods with a calculated manufacture cost, orders with revenue, and a year-end report tallying COGS and inventory valuation. The point of difference from Shopify's own tracking is that it connects the materials layer to the product layer, so each sale carries the cost that produced it.

Doesn't Shopify already track inventory?

It tracks listing quantities and order history, and does that well. What it doesn't hold is raw materials, bills of materials, production runs, or cost of goods sold. If you manufacture what you sell, Shopify only ever sees the finished-goods layer — it has no record of the inputs that went into it. That layer has to live somewhere else, whether that's this spreadsheet or dedicated software.

How do I calculate COGS for products I sell on Shopify?

COGS is the cost of the materials consumed in making the units you actually sold during the period — not everything you bought. Record what each production run consumed in the Manufactures tab, carry that through as a manufacture cost per unit in Product Inventory, then log each sale in Orders against that cost. The Reports tab totals it. Our guide to calculating COGS works through the formula in full.

Can I use this if I sell on Shopify and somewhere else?

Yes — the Orders tab takes sales from any channel, so Shopify, wholesale and marketplace orders can all sit in one place and give you a single COGS total. The honest caveat is that it's still all typed in by hand, and a second channel roughly doubles that work. Our guide to managing Shopify inventory across multiple channels covers how to keep one stock pool straight.

How do I know when to reorder a material?

Work from your own consumption and your supplier's lead time rather than a rule of thumb. If your runs consume 4kg a month and the supplier takes three weeks, your reorder point needs to cover three weeks of production plus a buffer for the weeks they're slow. The workbook gives you the usage history that calculation needs; our reorder point formula guide turns it into a number.

What are the real limits of running Shopify inventory on a spreadsheet?

Nothing arrives on its own — every order, purchase and production run is typed in, so accuracy depends entirely on nobody falling behind. Variants multiply rows quickly. There's no way for the file to tell you a material is nearly gone; you only find out by opening it. And you start a fresh workbook each year, which makes anything spanning a year-end boundary awkward. None of that matters much at low volume, and all of it matters at higher volume.

When should I move from the spreadsheet to software?

Two triggers, usually. The first is order volume — the point where typing in Shopify orders stops being a task and becomes a job. The second is the materials count: twenty materials across eight products is 160 relationships to maintain by hand, and each new SKU multiplies it again. Stocksmith connects to your Shopify store, brings orders in on a schedule, deducts materials against your bills of materials when you record a run, and keeps unit costs current as supplier prices move.

When you outgrow the spreadsheet

Stocksmith connects to Shopify and does the entry for you

The spreadsheet is a good place to start — it teaches you which numbers matter and why. What it can't do is keep itself current. Every order is a row you type, and the file is only as accurate as the last evening you spent on it.

Stocksmith holds each product as a bill of materials. Orders come in from your Shopify store on a schedule, record a production run and every material comes out of stock at its current landed cost, and unit costs update as supplier prices move. Stock Push sends your current counts back out to your channels.

The discipline transfers directly — same materials, same units, same costing logic, minus the typing.

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With the spreadsheet

Every Shopify order typed in by hand
Materials deducted manually after each run
You only spot a low material by going looking
Unit costs stale until you rework them by hand

With Stocksmith

Shopify orders arrive without you fetching them
Products held as bills of materials, deducted on each run
A low-stock level per material, so you see it coming
Unit costs recalculated as supplier prices move

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