Cost of Goods Sold (COGS)

Our IRS compliant software will calculate your COGS and inventory instantly for you.

Cost of Goods Inventory Software for Handmade Etsy sellers

Automated Cost of Goods Sold makes tax time a breeze

COGS is short for "Cost of Goods Sold" which in essence is the claimable direct expense (cost) of creating all products (goods) you have sold within the financial year. The IRS requires all handmade sellers to submit this information annually via a form called 1040, or "Schedule C".

Craftybase is a perpetual inventory system designed to provide you with accurate inventory and COGS calculations. Our system uses weighted rolling averages to calculate material usage and increases in inventory with precision: all you need to do is log your purchases and manufactures and Craftybase will tally everything for you. Our calculations are GAAP compliant, using IRS approved methods and are suitable for US based small manufacturers.

We offer a Schedule C guidance report that summarises all the numbers you need for your end of year tax filings.

Schedule C Report

Our Schedule C Guidance report makes tax time a breeze.

Automatic calculations

Enter your purchases and orders and Craftybase will do the rest.

Precise Unit Costs

Track your material usage costs to 4 decimal places for accurate and reliable COGS calculations.

Having a business that manufactures products with countless raw materials, Craftybase keeps us organized and helps us have a clear picture of the health of our business.

Bri Ussery
Bri Ussery
The Good Hippie

Take the stress out of inventory tracking, COGS and tax time by using Craftybase. Start your free trial today.

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