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Gas station inventory sheet

Monthly inventory record fuel 2026

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The document is a Monthly Inventory Record for tracking fuel inventory at a facility, excluding used oil, emergency generator fuel, and heating fuel. It includes sections for recording daily inventory levels, gallons delivered and pumped, calculations for total gallons over or short, and a leak check. The record must be maintained for at least three years and requires notification to the DNREC Tank Management Section if discrepancies are found.

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Click ‘Get Form’ to open the monthly inventory record fuel in the editor.
Begin by entering the MONTH/YEAR at the top of the form. This sets the timeframe for your inventory records.
In the TANK IDENTIFICATION & TYPE OF FUEL section, specify the tank's identification number and type of fuel being recorded.
Fill in your FACILITY NAME to identify where the inventory is being tracked.
For each day of the month, record the Start Stick Inventory (Gallons), Gallons Delivered, and Gallons Pumped. Use '+' for deliveries and '-' for pump usage.
At the end of each month, calculate Total Gallons Pumped and enter it in the designated field. Then, compute Book Inventory and End Stick Inventory.
Complete the DAILY OVER (+) OR SHORT () section by comparing your totals. If discrepancies arise, follow instructions regarding notification.

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Versions	Form popularity	Fillable & printable
2022	4.4 Satisfied (41 Votes)
2011	4 Satisfied (51 Votes)

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How do you account for disposal of inventory?

Make a journal entry that credits the inventory asset account with the value of the write-off. Then, debit the inventory write-off expense account the same value. The change to the expense account reduces your companys net income on its income statement and decreases shareholder equity in the balance sheet.

How often must tank inventory information be recorded?

You need one MONTHLY INVENTORY RECORD for each tank that you have.

How often is the fuel level measured when performing inventory control?

You must measure the tank every day that fuel is added or removed. You may take measurements using a gauge stick or a mechanical or electronic tank level monitor. No fuel can be added or removed from the tank while you are performing Step 1 or Step 2.

How do you account for your inventory?

Inventory purchases are recorded on the operating account with an Inventory object code, and sales are recorded on the operating account with the appropriate sales object code. A cost-of-goods-sold transaction is used to transfer the cost of goods sold to the operating account.

How to track fuel inventory?

Fuel inventory management involves three essential steps: Take daily measurements of fuel in the tank, fuel delivered, and fuel dispensed. Reconcile the daily measurements to determine the daily variance. Calculate the monthly variance to determine whether your monthly variance is within regulatory guidelines.

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