![]() ![]() Review information about filing insurance claims.The National Association of Insurance Commissioners recently launched a home inventory app (available in the App Store or through Google Play) that has the ability to: You can use an app for your smartphone or tablet to list items, store photos and video. If you’re taking a video, it’s a good idea to describe the item, its estimated value and the date of purchase. If possible, get a clear shot of the serial number. Take a walk through your house and capture each item. If you have a smartphone, you have the tools you need to record your personal belongings with photos or video. Or, group together items like antiques, artwork, clothes, collections, jewelry, kitchen items, furniture, musical instruments and miscellaneous items. Organize your list by groups of items.Don’t forget the small stuff, like books, knickknacks and decorations on your shelves. For example, start in your living room and list everything, like your TV, coffee table, recliner and sofa. Pick a room and record all of the contents. Here are some organizing tips to get you started: Make a ListĪ list can be as simple as a pen and paper or a spreadsheet on your laptop. That way you can add any items you’ve acquired or delete items you’ve gotten rid of. It’s a good idea to update it every year. You’ll also want to update your home inventory on a regular basis. For example, you can store an electronic copy in a cloud service or keep a hard copy with a relative. However you decide to create a home inventory, the key is to be as detailed as possible and to store a copy of the inventory outside your home. As you inventory your personal belongings, don’t forget all of your drawers, closets, attic, basement and if you’re brave, take a look under your bed. Or use a home inventory app to help you compile your list. How Do I Make a Home Inventory?Ī home inventory can be as simple as a written list, pictures or video. Your homeowners insurance policy may cover items at off-site facilities from problems like theft and fire. For example, “Six pairs of jeans, 10 dress shirts, two pairs of sneakers.” But make sure to note any valuable items, like an expensive suit or dress.Īnd don’t forget off-site items, such as belongings you keep at a storage facility. But for general categories, like clothing, you can provide a count. You’re obviously not going to have receipts for everything you own. A description of the item, including the make and model (if applicable).This flexibility means you can tailor the templates to your specific needs and requirements, making Excel a handy tool for business inventory management.What Should Be Included in a Home Inventory?Ī good home inventory should have the following information: ![]() With Excel, you can create custom formulas and algorithms to track inventory levels, calculate stock quantities, and manage stock orders. Inventory software is often designed to be a one-size-fits-all solution. Excel templates, on the other hand, are already pre-built, so you can hit the ground running by simply adding in your own data. It may take time and effort to familiarize yourself with all of the features and capabilities, which can be especially challenging for small businesses that do not have the training resources available. ![]() Another disadvantage of using inventory software is that it often comes with a steep learning curve. Specialized inventory software can be expensive, especially for businesses that need to manage large amounts of stock and materials, and the cost can increase even further depending on the inventory quantity being managed. You do not need to invest in expensive inventory management software. Most businesses already use Excel, and it comes at a minimal cost. One benefit of using Excel inventory management templates is that they are cost-effective. ![]()
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