How do I prepare an inventory for my limited company?

If your limited company has products for sale, supplies or materials used to produce services (for example, hair dyes in a hair salon) at the end of the financial year, prepare an inventory of them. 
Enter the information in an inventory list based on the situation on the last day of the financial year and submit the list with the financial statement materials.
 

How to prepare an inventory list

1. Count the products, supplies and materials in stock based on the situation on the last day of the financial year.
2. List the products and materials separately, one line per item.
3. Enter the quantity using an appropriate unit of measurement, such as pieces, litres or kilograms.
4. Enter the VAT-exempt purchase price per unit.
5. Calculate the total value of all products and materials excluding VAT.
6. Add the company name, Business ID, inventory date, the name of the person who carried out the inventory, their signature and printed name.
7. Submit the list with the financial statement materials using [the delivery channel and deadline to be confirmed].
    

The inventory list must include

• the company name and Business ID
• the name of the product, supply or material
• the quantity and unit of measurement
• the VAT-exempt value per unit
• the value of each line item
• the total inventory value excluding VAT
• the inventory date
• the name and signature of the person who carried out the inventory.
   

Example

Please note

If the product’s probable realisation value is lower than its purchase price, use the lower value.