Cost of Goods Sold (COGS)

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

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.

Cost of Goods Inventory Software for Handmade Etsy sellers

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Pricing Guidance

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Cost of Goods Sold (COGS)

Instantly calculate your COGS and inventory

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Compliance & Traceability

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Order Management

Be on top of your product stock levels and orders

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Expense Tracking

Keep track of your material and overhead expenses

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Materials & Components

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Reporting

Visibility on your production processes

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Consignment

Know what stock is where

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Stocktaking

Free yourself from huge annual counts

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Get your bookkeeping and inventory under control!

Take the stress out of inventory tracking, COGS and tax time by using Craftybase.

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