Track your Shopify COGS with accuracy. Craftybase takes care of the time-intensive calculations you don't want to do, so you can concentrate on growing your business.
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Take control of complex production processes. From COGS, raw materials to finished goods, and everything in between, Craftybase seamlessly manages multi-stage production processes - including components, sub-assemblies, and batch recipes. Smooth batch manufacturing from start to finish.
Never miss a beat, with our sophisticated inventory management features. Gain real-time visibility into material and stock levels, so you’ll know exactly when to order more supplies or make more products. Access sortable, searchable lists of all your material inventory - with photos - available online, wherever you are. Keep your inventory under control so your business is free to grow.
Keep your manufacturing business fully compliant. Our robust purchase-to-sale GMP solution offers batch and lot tracking, supply chain traceability, and expiry date features, empowering you - even during a product recall. Access accurate information with complete confidence.
Make informed decisions with our powerful analytics and reporting capabilities. Dive deep into manufacturing analytics, costs, margins and profitability. Identify business improvement opportunities with comprehensive COGS (Cost of Goods Sold) and BOM (Bill of Materials) tracking. Harness the power of data to optimize your operations.
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Integrations
Craftybase integrates with all of your storefronts, so the numbers you need can always be found in a single spot. With automated imports of products, variants, and orders, Craftybase simplifies your workflow and saves you valuable time.
Scalable Solutions
As your business expands, the Craftybase platform grows with you. Experience the power of an integrated MRP system specifically designed for small businesses like yours. Flexible plans to fit your industry, workflows, and preferences.
No long term contracts, no over-engineered over-priced features you'll never use. Just everything you need to unlock the full potential of your small-batch business.
Tracking expenses, materials, recipes, and orders all in one place is the reason my business was able to grow from a 'hobby' to a full-fledged enterprise.
Craftybase makes it easy to create my formulas and automatically calculates what I need to use, when to re-order, how much it costs me to make my products, and so much more. I literally could not function without it!
Being able to manage our inventory and accurately assess our cost of goods has allowed us to scale our business with confidence.
Craftybase frees up my time to focus more on customer engagement and driving sells. It's basically 50 spreadsheets and two employees all wrapped up into one easy to use platform.
Craftybase allows us to be lean with our materials inventory so we won't have any overage of inventory. It provides a great easy-to-use analysis of COGS to help us better manage our margins.
We do not know what we would do without this application. Spreadsheets and confusing documents is a thing of the past now!
Tried several systems and Craftybase is the only one, that covers all our needs, including the analysis of the sales and planning for the future.
Craftybase helps me keep my sales automatically entered into my system so that I can get on with doing the fun part: the creative products I make!
Unlock the full potential of your small business. Join the ranks of successful manufacturing businesses and revolutionize the way you operate. Get started today.
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Shopify COGS FAQ
To include COGS in Shopify, you need to use the Cost per Item feature. This feature will accurately track your costs as long as you are updating it when there are changes. Additionally, you need to calculate COGS for tax purposes. To do this, you need to use the formula: COGS = Beginning Inventory + Purchases - Ending Inventory. You also need to account for any fluctuations in cost per item, such as varying supplier costs or multiple shipments throughout the year. Finally, you must perform an end-of-the-year inventory count to get an accurate value of your ending inventory. By accounting for these factors, you can accurately include COGS in Shopify and accurately itemize COGS on your Shopify Schedule C report.
Craftybase is an app designed to help Shopify sellers accurately track their COGS. It allows users to enter purchase orders, sales records, and inventory levels into the app so that it can automatically calculate accurate COGS figures. The app also provides reporting tools for users to view their expenses and profits more clearly, giving them a better understanding of their business. Additionally, the app can track inventory levels in real-time, helping users stay on top of their stock levels and making sure they don't end up with too much or too little inventory. This helps keep their costs low and their profits high. With Craftybase, Shopify sellers can easily manage their COGS accurately and efficiently.
The COGS report in Shopify can be found under the ‘Reports’ tab. From there, select ‘COGS’ from the left hand menu and a summary of your Cost of Goods Sold will appear. This report is an overview of your COGS for the current period, showing you how much you have spent on inventory for the period, and how much you have sold. This report is updated automatically when new orders are placed or payments are taken, based on the costs you have entered in per item. This way of calculating COGS isn't as accurate as using a dedicated app such as Craftybase, but it still provides helpful insights into your business.
Streamline your end-to-end manufacturing process and gain real-time visibility into your inventory.
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