Do you have to report the cost of goods sold on the items sold in your handmade business? If you have to file a schedule C tax form in the US, chances are you will need to know what your total cost of goods sold is each year and this template will help you keep track of that.
This template is actually 2 templates combined/ linked together to save you time in pricing your items and calculating your COGS.
There are 2 worksheets/ tabs within the template:
Pricing Template – A pricing worksheet is included, and this is where you will enter all the raw materials that go into your finished items.
COGS tab – This will list out each item you price and the cost of materials that went into that item, automatically after you enter them in the pricing page. On this page you will simply find the item listed and enter the quantity sold, then it will add up your total cogs.
You will be able to enter up to 120 different items to the template for pricing and COGS calculations. For each item, you can enter up to 10 materials. In the pricing tab you will also be able to enter an hourly rate, amount of time to complete the project and a recommended wholesale and retail price will calculate based of this information.
Both tabs/worksheets are set to print. In addition, you will also receive a PDF file with directions and some excel tips.
The pricing template includes etsy and/or paypal fees added into the recommended retail prices.
*1,000 items pricing and cogs template – also includes ability to add 20 materials into each item and upload item pictures in the pricing page.
*Raw Materials Inventory system – This will include pricing and COGS pages for 1,000 items, plus has 2 extra pages for tracking your inventory. Enter your purchases in an inventory sheet, and when you enter those purchases/materials into the pricing sheet, have it automatically pull in the price. Also updates the raw materials inventory after the items have been marked as sold. See an example of how this upgrade options works in this video:
You will receive this by email. You will receive an Excel Spreadsheet and PDF file ONLY, All templates are for personal use only, you do not have permission to distribute or resell.
See more here.