- What is Cost of Goods Sold (COGS) software?
- COGS software tracks the direct costs of making your products — raw materials, labor, and overhead — and calculates your Cost of Goods Sold automatically. Instead of cobbling together spreadsheets at tax time, you have accurate numbers ready when you need them. Craftybase is COGS software built specifically for small manufacturers and makers.
- What does COGS stand for?
- COGS stands for "Cost of Goods Sold" — the direct costs of producing the products you've sold during a period. This includes material costs, direct labor, and manufacturing overhead. It's a key figure for your tax return and for understanding your true profit margins.
- How does Craftybase calculate COGS?
- Craftybase uses weighted average costing — an IRS-approved, GAAP-compliant method. Every time you buy materials or manufacture products, your average costs update automatically. When you sell, the cost of materials used flows into your COGS. No manual calculations, no spreadsheet formulas, no guessing.
- Is my business too small for COGS software?
- If you're making products from raw materials — even just a handful — you're big enough. In fact, the earlier you start, the easier it is. Many makers wait until tax time to figure out COGS, then spend hours recreating numbers from memory. With Craftybase, your costs are tracked as you go. We also offer a free COGS spreadsheet template if you want to start simple.
- Can I sync COGS to QuickBooks?
- Yes — our Growth plan includes QuickBooks Inventory Sync, which pushes your COGS and inventory valuations directly to QuickBooks Online. No more manual journal entries or month-end scrambles — your accountant gets accurate numbers automatically.
- What reports does Craftybase generate for COGS?
- Craftybase generates COGS reports and Inventory Valuation reports — exactly what you need for tax filings. You can pull reports for any date range, see material-level detail, and export everything for your accountant. Our calculations follow IRS-approved methods, so you can file with confidence.
- What's the difference between COGS software and accounting software?
- COGS software calculates the direct costs of producing products you've sold — materials, labor, and overhead per unit. Accounting software like QuickBooks tracks income and expenses but typically can't calculate Cost of Goods Sold per product without manual journal entries. Craftybase fills the gap: it handles material-level COGS and syncs the totals into QuickBooks for your accountant.
- How does Craftybase compare to tracking COGS in a spreadsheet?
- Spreadsheets work until they don't — most makers hit a breaking point when material prices change, units sold add up, or recipes get more complex. Craftybase uses the same weighted-average COGS formula as a spreadsheet but updates costs automatically every time you buy materials, manufacture products, or import sales orders. No formula errors, no rebuilding tabs at tax time.
- What's the difference between COGS and inventory valuation?
- COGS (Cost of Goods Sold) is the cost of products you've already sold during a period — it appears on your income statement. Inventory valuation is the cost of products you still hold at the end of the period — it appears on your balance sheet. Both are calculated from the same material and manufacturing costs. Craftybase generates both reports automatically for any date range.
- Is there a free trial?
- Yes — every plan comes with a 14-day free trial. No credit card needed. You can bring in your existing data, connect your sales channels, and see if Craftybase fits the way you work before you commit.