[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.

My Handmade Biz-When does Inventory & COGS hit my bookkeeping?

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 …

3 methods for tracking costs of little parts & pieces

Tracking Costs of Little Parts & Pieces

Tracking costs of little parts and pieces that go into your final finished handmade creations can be totally mind boggling!  Here are some tips which we talked about in a live Facebook video this past week. If you are a yarn dyer you have the cost of baking soda, crochet thread, guar gum, litmus test …

Does tracking the cost of your handmade items have you frazzled?

Tracking Costs of Handmade Items Got You Frazzled?

Is tracking the cost of your handmade items have you frazzled?  Need a solution?  I have one for you – a FREE Project Costs & Pricing Worksheet. As handmade business owners tracking the costs of our finished items is every bit as important as keeping tack of ALL the costs to run our business. Do …