Year-end stock valuation sheet
Value your closing stock at the lower of cost and net realisable value, and see the write-down for slow or damaged items.
Closing stock must not be valued above what you can sell it for. List each item with the quantity counted, its cost and what you expect to sell it for, and the sheet values each at the lower of the two, works out the stock value and the write-down needed, ready for the year-end accounts and the tax computation.
Shops, wholesalers and manufacturers preparing year-end accounts, and accountants who review stock valuation.
What is included
- Quantity, cost and net realisable value per item
- Value at the lower of cost and net realisable value
- Write-down for each item
- Total stock value and total write-down at the top
- Room for 500 items
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Screenshots
How to use it
- Count the stock and enter the quantity for each item.
- Enter the unit cost and the expected selling price after costs.
- Read the value of each item at the lower figure.
- Take the total value and the write-down to your accounts.
Templates are tools to help with your own records. They are not tax or legal advice. Check the figures against official sources before filing or paying.
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What the year-end stock valuation sheet does
Closing stock must not be valued above what you can sell it for. List each item with the quantity counted, its cost and what you expect to sell it for, and the sheet values each at the lower of the two, works out the stock value and the write-down needed, ready for the year-end accounts and the tax computation.
Who it is for
Shops, wholesalers and manufacturers preparing year-end accounts, and accountants who review stock valuation.
How to use the workbook
- Count the stock and enter the quantity for each item.
- Enter the unit cost and the expected selling price after costs.
- Read the value of each item at the lower figure.
- Take the total value and the write-down to your accounts.
- Save a copy under a new name for each month or year, so earlier records stay as they were.
What is inside
- Quantity, cost and net realisable value per item
- Value at the lower of cost and net realisable value
- Write-down for each item
- Total stock value and total write-down at the top
- Room for 500 items
The workbook has these sheets: Instructions, Stock. The main table has the columns Item; Quantity counted; Unit cost; Expected net selling price; Value per unit; Stock value; Write-down. Yellow cells are for you to fill in and grey cells calculate by themselves, so leave the grey cells alone. The example rows show how it works; type over them with your own entries.
Tips for getting it right
- Count with two people and record both counts.
- Check damaged and slow items carefully.
- Net realisable value is the selling price less selling costs.
- Keep the signed count sheets with the accounts.
Why keep this record
Accounting records let you answer three questions at any time: what came in, what went out and who owes whom. Kept consistently they also make tax returns, loan applications and the sale of a business much easier, because the evidence is already organised. Entering transactions the day they happen is far cheaper than reconstructing them at year end.
Questions people ask
Do I need to know Excel formulas? No. Type into the yellow cells and the rest is worked out for you. The formulas are visible if you want to see how a figure is reached.
Can I add rows or change the layout? You can add your own columns to the right and your own notes. If you insert rows inside a table, copy the grey formula cells down so the new rows calculate too.
Will it work on my phone or in Google Sheets? Yes for viewing and typing, but dropdown lists and the charts look best in desktop Excel or LibreOffice.
Keeping it safe and up to date
Good accounting records are a legal duty as well as a management tool: keep the supporting receipts and invoices with the workbook, and keep each year's copy for at least five years. Work on a copy, never on your only file, and back it up.
Read how to keep business records for KRA for the wider picture. Free calculators that go with it: Corporation tax calculator. See more accounting templates or ask us for a custom one.
The workbook works in Microsoft Excel, LibreOffice and Google Sheets. It is a tool to help you work out and record figures, not tax, legal or accounting advice, and it is not affiliated with the Kenya Revenue Authority. If something does not work as described, contact us and we will put it right.
Related guides, calculators and templates
- Free calculator: Corporation Tax Calculator
- Guide: How to choose accounting software for a small business
- Guide: How to run a month-end close for a small business
- Guide: How to read a balance sheet: a guide for small business owners in Kenya
- Another template: Audit preparation guide for small businesses
- Another template: Branch and department profit and loss
- Another template: Financial statements explained for business owners
Need something different? Request a custom template, browse all guides or see every Excel template.
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