How to Organize Inventory Sheets

Keep your numbers in order for easy retrieval later.

Inventory spreadsheets can itemize everything from tax records to home furnishings to betting records. When organizing your inventory spreadsheets, you want to think about how you can effectively order your documents so you can easily track them later. This way, if you need to file a claim for a home insurance invasion, for example, you can find the correct inventory spreadsheet when you need it.

Instructions

1. Organize inventory spreadsheets using an online software program, such as Excel. Documenting, managing and storing inventory spreadsheets electronically can offer protection against damage. Backup your files in a second location to protect against total loss from theft or fire. Software programs are optional.

2. Place inventory spreadsheets in order by groupings. For example, organize insurance inventories--such as home, auto, health and life--in one grouping and home inventories--such as high-value assets or monthly expenses--in another.

3. Place inventory spreadsheets in order by date. Place inventory spreadsheets in descending order, starting with the most recently dated inventory spreadsheet and ending with the oldest.

4. Divide each group into three files: current, inactive and permanent. As a general rule of thumb, use your current file for inventories of existing assets or insurances. Reserve the inactive file for spreadsheets that are at least three years old. Keep very important spreadsheets in your permanent file.

5. Maintain inventory spreadsheets for up to five years. Extension Organization recommends maintaining filing systems for up to five years.

References

• ZD Net: Home Inventory Spreadsheet
• Cornell Cooperative Extension: How Long Should You Keep Explanation of Benefit Statements from Insurance Companies
• North Dakota State University: Record Keeping