Helping handmade, creative and craft business owners learn to handle their bookkeeping, one step at a time!
Helping handmade, creative and craft business owners learn to handle their bookkeeping, one step at a time!
Confused about pricing or cost of goods sold? You’re not alone. Here you’ll find maker-friendly guides on tracking materials, calculating COGS, and pricing your products with confidence (and profit!).
Still using that mythical “Materials x 3′ rule to price your handmade products? Let’s fix that!
Makers, that “materials × 3” pricing rule might sound simple — but it’s quietly shortchanging you. Here’s how to price your handmade products fairly (and profitably).
Bookkeeping for designers is very different than for product makers – especially when it comes to keeping track of the cost to design a knit or crochet pattern. Designers have SO MANY questions: If so, the Bookkeeping for Designers – Free Training session is for you! How to sign-up for the free training: Once you …
How inventory works and why it’s important in your handmade, creative, or craft business can be totally confusing to understand. Running a handmade, creative, or craft business is a labor of love. The overhead required to keep it running smoothly is usually your precious time and energy. Understanding how inventory works and why it’s important to …
Some people will tell you that discounts aren’t really good for your craft business, that they devalue your biz and your abilities. Others are of the opinion that sales and promotions work, so why wouldn’t you discount your items?
Finished items inventory is this weeks topic. If you’ve been wondering how to track your inventory of finished items using spreadsheets, I’ll teach you how in this blog post. Keeping track of inventory is tough. There are so many moving pieces that you need to keep track of. Let’s start with a list of things …
Yarn support and bookkeeping – is it really necessary? Yarn support is when a yarn company gives a designer free yarn to use in a knitting or crochet pattern design. Some people will argue that the yarn isn’t a gift to the designer, but rather a collaboration for both parties – with benefits. While I …
![[My Handmade Biz] When does Inventory & COGS hit my bookkeeping? Sometimes it can be 2 or 3 years before you sell an item and get to recognize the COGS. This is why keeping detailed records is important.](https://yarnybookkeeper.com/wp-content/uploads/2020/01/2020-01-27-Inventory-to-COGS-540x400.jpg)
I bet you’re wondering, WHEN does Inventory & COGS (Cost of Goods Sold) hit my bookkeeping? More specifically when do project costs appear on your Profit & Loss Report under Cost of Goods Sold (if you want to go all accounting speak) and then what about my tax return? If you’ve been following along this …
Why do I need to track Cost of Goods Sold and WHAT exactly is it? Understanding what Cost of Goods Sold is and WHY it’s important to track it is certainly a confusing thing for most handmade and creative business owners. Let’s see if we can clear that up. Over the last couple of weeks …