Open items can generally be described as some financial activity or some expense which is already not mentioned in accounts it will be charged lately in log template. It may be present in ledger but not in accounts. Like if a shopkeeper orders three crates of soft drinks and only two are shipped due to a backorder on the third crate, that crate is considered as open item.
When dealing in larger industries and huge businesses lots and lots of items are involved and they are in huge numbers. Maintaining the data of this is necessary to remain updated and to calculate cost to avoid any mishap and loses in future.
Open items issues log list in Microsoft excel
This record is very much difficult to maintain on paper and to keep it updated therefore Microsoft excel templates are used in this regard to keep items list understandable and updated. However there are few things which need to be focused in making good log list in Microsoft excel.
- Keep each member of team on same page. Everyone should have same level of information.
- Information should be updated on regular basis and if more efficiency is needed it should be updated more often. It helps in decision-making on a small level as well as on big platform.
- It helps keeping the cost low that is expense low. If a good decision will be taken on time it helps in reducing cost and making good budgets.
- It should be seen and viewed by all team members but only one should have the right to sort and edit it.
- It is also one of the best project management tools therefore with the help of exact information project reports can be made perfectly and easily.
- In large scale industries open item issues can be recorded and adjusted easily. It’s difficult to continuously updating data on paper however it can easily be done on Microsoft excels.
TEMPLATE ISSUE LOG TEMPLATE:
Many types of templates are present in Microsoft excel to make open items issues log list. However it depends on your needs which type of template is best for your business.
There is simplest type of template present in Microsoft excel for this purpose only having few columns. It is of basic paper sized. If you want to take out a print to have it in written form you can simply take a print out. Any member of team which has access to this list can have fewer details as each heading shows brief data. Length of document and date of printing can be viewed if needed.
Project Issue Log Template (Excel Format)
Another type of template is like this one only there is one more column added. It is needed for multiple items and for more big businesses. More columns can be added as needed. It also offers more features like highlighting. Microsoft excel can be used easily due to its grid structure.
When we need to record data of multiple items with varying numbers it very difficult and exhausting at this stage we need a superb template which can provide our needed information quickly. Therefore it is preferred by all and is a clever decision to use it.