Automatically calculate your manufacturing costs for goods sold!
We released a couple of new little tweaks to Craftybase that should make the task of calculating cost of goods sold (COGS) much less of an ordeal.
We’ve updated the profitability totals section on both your overview and project pages. These totals now give you three interesting ways of seeing your incomings and outgoings for any time period.
Basic Cashflow Basic cashflow is designed to show all incomings and outgoings for the time period selected, regardless of what the expense was used for, and if it has been “consumed” on a project. This report is handy for keeping an eye on your cashflow at a high level.
Manufacture Cost Report This will show you how much money you have spent creating your items in the period selected. It doesn’t take into account any sales made in the period, it is strictly for tracking how much you are spending on your manufacturing costs from week to week.
Manufacture Cost for Sales This option shows you the amount it cost you to produce the items you sold in the time period specified. It is calculated using your manufacture and labour costs for all items sold in the period - this report should be very helpful to those that need to calculate Cost of Goods Sold on a regular basis. To start tracking labour and manufacture costs per sale, you will need to make sure you have Batch Recipes and estimated labour time per batch configured for your projects.
This new help article in our help section explains the new profitability calculations in more detail and also gives you handy links to learn about the concepts mentioned above:
If you have any questions about how this works, please get in touch and we’ll give you a hand. We’d also love your thoughts and suggestions on how we can make this section even better - so please feel free to send us your feedback.