Helping You with Your Amazon FBA Business

The Tracking Spreadsheet vs. InventoryLab

I purchased Caleb Roth’s Tracking Spreadsheet and have been running it side by side with InventoryLab.  In this post, I’m going to compare the two programs.

List, Label & Ship

InventoryLab: This program lets you list your products, print labels to your DYMO and create your shipping plan in almost one seamless step.

Entering product info with InventoryLab.

Entering product info with InventoryLab.

Tracking Spreadsheet: The Tracking Spreadsheet doesn’t have the ability to list, print labels and create a shipping plan.  Therefore, you’ll do those tasks in a different program or a combination of other programs.  Options are Caleb Roth’s free Listing Spreadsheet, Amazon Seller Central, ScanLister, InventoryLab and AccelerList.


Listing with ScanLister

Then after you list your products and finish your shipping plan, you take a few extra steps to get your inventory information into the Tracking Spreadsheet.  Fortunately, there are step-by-step videos on how to do that and it’s pretty easy.

When you first sign up for the Tracking Spreadsheet, you might want to transfer over all of your listing data from the past.  I chose to transfer over my InventoryLab data and though it was easy, it took me a few hours to do so.  But after that, it doesn’t take much time to transfer over your current listings.

Tracking Spreadsheet Listing

Products added to The Tracking Spreadsheet

A Few Random Side Notes

I’m still using InventoryLab because my annual subscription doesn’t expire until July 18th.  However, I purchased ScanLister because I wanted to see how it worked with the Tracking Spreadsheet.

Caleb showing us how to use ScanLister with the Spreadsheet

I have not used the Listing Spreadsheet or AccelerList, so I can’t comment if they’re easy to use or not.  However, here are a couple of videos to learn more about them and how they work with the Tracking Spreadsheet:

Caleb discussing the Listing Spreadsheet

Caleb discussing AccelerList

I don’t recommend listing with Amazon Seller Central because it doesn’t give you the fields to enter the buy cost or the store name.  This means that you’ll have to manually add in that information into the Tracking Spreadsheet.

If you do choose to use Amazon Seller Central for your listing, then you should code your MISKUs so that you can quickly find the buy costs and store names to input into the spreadsheet.

Shipping Plan

One feature that I like about InventoryLab is that you’ll see which warehouses that your products are going to when you list your items.  I have always used Private Workflow and even though the warehouse destinations can change, it didn’t happen very often.

Seeing your tentative warehouse assignments with IL.

Seeing your tentative warehouse assignments with IL.

The other feature that I like with InventoryLab is that you are able to see your potential profit of the contents of each shipping box.  This has always helped me in deciding when to ship my products.

With ScanLister, you list your products and then upload them to Amazon.  Then you create your shipping plan inside of Amazon Seller Central.

Good News: ScanLister was just updated so you can now print labels to your DYMO 450 printer.

Profit and Loss Statement

Both InventoryLab and the Tracking Spreadsheet will create an Income Statement for you.

InventoryLab automatically syncs with Amazon so you don’t need to manually transfer over your Amazon sales data.

With the Tracking Spreadsheet, you’ll need to manually transfer over your Amazon sales data.  But this is a very simple process and takes less than 5 minutes to do.  There is a step-by-step video on how to do this.

Click here to view the video!

I like that the Tracking Spreadsheet allows you to choose custom date ranges for your Profit and Loss Statement.  Since I do Profit First, I need my COGS amount for each disbursement period and the Tracking Spreadsheet makes it easy to get that.

InventoryLab doesn’t allow you to select a custom date range, so I always had to download a spreadsheet and then delete the rows (products) that were sold either before or after my disbursement period.


Both programs have reports, but rather than listing all of them, I’m going to just mention a few:

Profitability by Individual Sale: This is in InventoryLab and it’s really neat to see how much you made or lost on each individual sale.

Profit on each individual sale.

Profit on each individual sale.

Sale Rank Analysis: This is in the Tracking Spreadsheet and I learned that most of the products that I sold are ranked between 10,000 and 100,000.

Interesting. Once I start selling books with higher ranks, this will be very good info.

Sales by Rank

Monthly Metrics Report: I love the Tracking Spreadsheet’s Monthly Metrics report that gives you graphs where you can quickly see the number of units listed, percent sold, average list price and average sales rank by month.

Monthly Metrics

My Avg List Price & Sales Rank Graphs.

Scanning App

Scoutify is a scanning app that you use with your retail arbitrage trips and it’s included with your InventoryLab subscription.

The Tracking Spreadsheet doesn’t come with a scanning app.  However, you can use Amazon’s free app or pay for a Profit Bandit or FBAScan subscription.

Lol. My Profit Bandit story from December 2014.

Click the image to read my story from December 2014!


InventoryLab is $49 per month or $480 per year with an annual subscription.

The Tracking Spreadsheet has a one-time fee of $99 before July 1, 2016.  The price will go up to $120 on July 1, 2016.

Once you purchase the Tracking Spreadsheet, you can use the Listing Spreadsheet and one of the free scanning apps so that there aren’t any additional costs to you.  However, even if you decide to use ScanLister and Profit Bandit, you’ll still save money.

For example:

  • The Tracking Spreadsheet: $120 one time fee ($99 before July 1!)
  • ScanLister: $179 one time fee.  They also have a $14.95 monthly option.
  • Profit Bandit: 12 months (approx $120)
  • 1st Year Cost: $419

InventoryLab is $480 (annually) or $588 (monthly) for your first year.

So during the first year, the cost of InventoryLab isn’t too much more than the combined cost of the Tracking Spreadsheet, ScanLister and Profit Bandit.  However in the 2nd year, you’ll see a big savings with the Tracking Sheet combination over InventoryLab.

Of course, the prices will differ depending on which programs you use, your subscription plan and also any future price increases.

Which Should You Use?

InventoryLab and the Tracking Spreadsheet are completely different programs, so it’s hard to give an apples to apples comparison.  With InventoryLab, you do get more features, but also a higher price tag.

I mainly used InventoryLab for the COGS tracking, Scoutify and for listing my products.  With that said, I only used Scoutify because it was included with InventoryLab.  Also, before signing up with InventoryLab, I never had any issues with listing and printing labels inside of Amazon Seller Central.  My primary reason for switching over to InventoryLab was for the COGS tracking.

Business Acronym COGS – Cost of Goods Sold. Yellow paint line on the road against asphalt background. Conceptual image

To calculate your profit, you need to know your COGS.

Now that I know that the Tracking Spreadsheet calculates COGS accurately, I plan on cancelling my InventoryLab subscription when it expires.  Then I’ll start using ScanLister and the Tracking Spreadsheet. At that time, I’ll also go back to Profit Bandit.

Since I’m quick at listing and slow at sourcing, prepping and shipping, I feel that it’s in my best interest to switch to a lower-cost listing and COGS tracking system and spend more on sourcing and prepping tools/services.

Get Started
There’s nothing wrong with using Amazon Seller Central for listing and using your own spreadsheet for your COGS tracking.  I did that for my first 18 months as a Seller.  But once your volume increases in both units purchased and units sold, then the time to maintain the COGS tracking spreadsheet does increase.  When you’re ready to save time, then I do believe that both the ScanLister/Tracking Sheet Combo and InventoryLab are both great alternatives.

Here are links to each of them:

Tracking Spreadsheet   If you’re interested in purchasing it, be sure to do so before the price goes up on July 1.

InventoryLab: They have a 30-day free trial so you can test it out before you commit to the larger price tag.

ScanLister: When I joined, I signed up for the 8-day free trial included with the monthly subscription.  Then before my trial period ended, I cancelled the monthly subscription and then later purchased it.

Important Note:  Both the Tracking Spreadsheet and ScanLister can be used with any category.  On the sales pages, they may look to be more book-oriented.

If you have any questions about any of the programs, please let me know in the comment form below or on my Facebook page.

Affiliate Disclosure for SHD

{ 12 comments… add one }
  • Brandy June 30, 2016, 12:08 am

    Great Article! I am enjoying the content here. I still think after the comparison that I’d want to stick with Inventory Lab but mainly because I got in when it was in its infancy and still pay the lower amount but get all the upgraded features and only have to pay for one product. I switched to all online arbitrage so I would save money if I switched because I wouldn’t need profit bandit so its definitely something to think about. Thanks for the taking the time to write this article.

    • Diana June 30, 2016, 12:25 am

      Hi Brandy,
      Though I didn’t mention it, I also have a lower price with InventoryLab because I joined it before the $49 price increase. So, it is very tempting for me to stay with IL because once I sign up for PB, I’ll only be saving about $23 a month. With that said, I have been spending a lot of money on other things lately so feel that I need to control spending where I can. I do think IL is a fantastic program and I’ll miss parts of it, but like I said in the post, it’ll personally be better for me to spend in other areas.

      Thanks for stopping by and I appreciate your comment!

  • Darlene June 30, 2016, 4:39 am

    I use Inventory Lab and have continued to use List Label Ship. Can I stop using List Label Ship if I use Inventory Lab and not have any issues printing labels?

    • Diana June 30, 2016, 1:11 pm

      Hi Darlene,

      Yes, if you are using InventoryLab, you don’t need to subscribe to LLS. You just setup your DYMO inside of IL. You can set it up so that each time you list a product, it’ll print the label.


  • Muhammad Idries July 21, 2016, 1:54 am

    I’m currently using InventoryLab so I find this article very interesting. I’ve also been trying to cut costs as much as possible and I would love to be able to ditch IL (mainly because its $50) but I would need a pretty good alternative before I do that. I’m curious as to how much IL was before the $49 increase. I’d be interested in taking over your current subscription at the lower price if you want to work out a deal. Thanks

    • Diana July 21, 2016, 4:47 pm

      Hi Muhammad,
      When I joined, InventoryLab was $39 a month and since I paid for one year, it ended up being $33.00. $33 is a great price for all that you get. I don’t think that it’ll work if you continued my subscription because then you’ll get access to all of my inventory and sales history. If I decide to continue with InventoryLab in the future, all of my data will still be in my account.

      Two days ago, I signed up for a trial version of Accelerlist. It’s a very new program to be used for Listing. I read that Caleb Roth is now one of their partners. They will be adding in new features to the program and I think it’ll be a great program soon. It’s $19.99 a month. This is my referral link if you want to test it out: Accelerlist

      I’ve chatted with one of the owners, Travis a few times and he’s very helpful and he even gives out his cell phone number too which is unusual.

      If you have any specific questions about Accelerlist, let me know!

  • Kim December 10, 2016, 12:40 am

    Hi Diana. Are you using Inventory Lab or the tracking spreadsheet now?

    • Diana December 10, 2016, 4:15 am

      I’m using both. I went back to InventoryLab as it’s the quickest way for me to list.

      I’m using the Tracking Spreadsheet to get my monthly COGS. I know that I can get that in InventoryLab, but I want to keep up with the Tracking Spreadsheet. Why?

      Because when I cancelled IL last summer, I lost access to all of my data. With that said, before quitting IL, you can export your data into excel spreadsheets. Also when you rejoin IL, you get access to your back information.

      But I like having my own permanent copy of my listing and sales data (Caleb’s spreadsheet) so I’m going to continue with it. It doesn’t take very long to do the entries.


      • Kim December 13, 2016, 7:13 pm

        Smart. I think the tracking spreadsheet works with ScanLister now. Have you tried that? From the videos it looks really fast. I’m wondering if its even faster than Inventory Lab.

        • Diana December 13, 2016, 10:23 pm

          I do have ScanLister and it does integrate with Caleb’s Spreadsheet.

          I do prefer InventoryLab though as it’s just the easiest for me and I like the additional features of IL over Scanlister. For example, I like seeing the net profit of every item that I sell after it sells. ScanLister doesn’t do that. Also since I’m grandfathered in to a lower rate with IL since I initially signed up before the price increase, it was an easier decision to go back to IL. If I had to pay the $49 monthly, I’m not 100% sure if I would use it.

          If you just need a quick listing program & don’t want to spend a lot, then ScanLister will work. Since it integrates with Caleb’s spreadsheet, you’ll get your COGS and his spreadsheet also builds a Profit and Loss Statement.

          Since most listing programs (IL, Accelerlist and Scanlister) have free trials, this is a good time to test them out and then start on Jan 1 with whichever you choose.


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About Diana

I am working towards creating a full-time income by selling on Amazon. It's a lot of work but very fun! If you're interested in selling on Amazon, be sure to follow my blog as I'll be providing you with lots of tips!

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