Craftybase Stocksmith

Why?

Cost-of-goods-sold

Inventory management, manufacturing, and business strategy for small-batch product businesses.

Direct vs Indirect Expenses Explained (With Examples)

bookkeeping tax

Direct vs Indirect Expenses Explained (With Examples)

Not all business expenses work the same way at tax time. Here's exactly how to tell your direct costs apart from your indirect costs, and why getting it right matters more than you might think.

· 17 min read
How to Track COGS in Shopify

bookkeeping tax

How to Track COGS in Shopify

Shopify's built-in cost field won't give you accurate COGS if you make your own products. Here's how to actually track cost of goods sold as a small-batch manufacturer using Shopify.

· 19 min read
Cost of Goods Sold Formula for Small Manufacturers: Step-by-Step COGS Guide

bookkeeping tax

Cost of Goods Sold Formula for Small Manufacturers: Step-by-Step COGS Guide

Learn the COGS formula step by step with real-world examples for small manufacturers. We cover what to include, what to exclude, inventory valuation methods, and how to report COGS on your taxes.

· 35 min read
How to Track Cost of Goods Sold in WooCommerce (Plugins vs. Manufacturing Software)

bookkeeping tax

How to Track Cost of Goods Sold in WooCommerce (Plugins vs. Manufacturing Software)

WooCommerce doesn't track COGS natively. Compare plugin options against dedicated manufacturing software, and see why product businesses producing their own goods need more than a static cost field.

· 19 min read
Form 1125-A: Cost of Goods Sold for Small Business (How to File)

bookkeeping tax

Form 1125-A: Cost of Goods Sold for Small Business (How to File)

If your product business sells physical products, Form 1125-A is how you report your cost of goods sold to the IRS. Here's exactly what each line means, and a worked example.

· 16 min read
Complete Guide to Raw Material Inventory Management

inventory management

Complete Guide to Raw Material Inventory Management

How to track and manage your raw material inventory to increase profits, become more organized and grow your business.

· 27 min read
COGM (Cost of Goods Manufactured) — What It Means and How to Calculate It

inventory management

COGM (Cost of Goods Manufactured) — What It Means and How to Calculate It

COGM (Cost of Goods Manufactured) is the total cost to produce finished goods in a period. Here's what it means, the formula, and how it differs from COGS.

· 13 min read
FIFO vs LIFO vs Weighted Average Cost — Which Method Should Small Manufacturers Use?

bookkeeping tax

FIFO vs LIFO vs Weighted Average Cost — Which Method Should Small Manufacturers Use?

Not sure whether to use FIFO, LIFO, or weighted average cost for your product business? Here's what each method means in practice — with real production examples — and which one Stocksmith uses automatically.

· 15 min read
Inventory Requirements for Small Business: What the IRS Says and How to Track It

inventory management

Inventory Requirements for Small Business: What the IRS Says and How to Track It

The IRS doesn't care how small you are. If you make products from raw materials, you're required to track inventory. Here's what Publication 334 says — and the best way to keep track of inventory for your small business.

· 15 min read