Track your Wix COGS with accuracy. Craftybase takes care of the time-intensive calculations you don't want to do, so you can concentrate on growing your business.
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Take control of complex production processes. From COGS, raw materials to finished goods, and everything in between, Craftybase seamlessly manages multi-stage production processes - including components, sub-assemblies, and batch recipes. Smooth batch manufacturing from start to finish.
Never miss a beat, with our sophisticated inventory management features. Gain real-time visibility into material and stock levels, so you’ll know exactly when to order more supplies or make more products. Access sortable, searchable lists of all your material inventory - with photos - available online, wherever you are. Keep your inventory under control so your business is free to grow.
Keep your manufacturing business fully compliant. Our robust purchase-to-sale GMP solution offers batch and lot tracking, supply chain traceability, and expiry date features, empowering you - even during a product recall. Access accurate information with complete confidence.
Make informed decisions with our powerful analytics and reporting capabilities. Dive deep into manufacturing analytics, costs, margins and profitability. Identify business improvement opportunities with comprehensive COGS (Cost of Goods Sold) and BOM (Bill of Materials) tracking. Harness the power of data to optimize your operations.
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Import orders automatically and sync stock levels across all your channels — so you never oversell or run out of stock.
Scalable Solutions
As your business expands, the Craftybase platform grows with you. Experience the power of an integrated MRP system specifically designed for small businesses like yours. Flexible plans to fit your industry, workflows, and preferences.
No long term contracts, no over-engineered over-priced features you'll never use. Just everything you need to unlock the full potential of your small-batch business.
I'm impressed with the ability to track minute quantities of essential oils and other materials used in multiple products. I love the conversion from purchase to tracking units, and love the ability to make components and recipes.
Craftybase makes it easy to create my formulas and automatically calculates what I need to use, when to re-order, how much it costs me to make my products, and so much more. I literally could not function without it!
This report makes tax time almost enjoyable. No more lists and spreadsheets — I just run the report for the time I need, and it's done!
Craftybase has given me the tools amp; resources to accurately track my materials, recipes, and inventory. I love that I can build out my recipes and make adjustments to see my cost in real time.
We do not know what we would do without this application. Spreadsheets and confusing documents is a thing of the past now!
I love that the app keeps track of how much material I have on hand and how much it costs me exactly… This allows me to really know how much my products cost me to make and how much I should charge.
My favourite feature is the software's ability to calculate the cost of our products in real-time, taking into account the increase in the costs of raw materials.
Craftybase is an instrumental part of our bookkeeping. Having a business that manufactures products with countless raw materials, Craftybase keeps us organized and helps us have a clear picture of the health of our business.
I love that Craftybase keeps track of the cost of materials over time including shipping. As costs creep up I can make sure my product prices reflect that reality.
Craftybase allows us to be lean with our materials inventory so we won't have any overage of inventory. It provides a great easy-to-use analysis of COGS to help us better manage our margins.
Craftybase helps me keep my sales automatically entered into my system so that I can get on with doing the fun part: the creative products I make!
It's super important that we can record and trace ingredient lots and production batches. Craftybase has made this process streamlined and easy to stay organized.
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Wix COGS FAQ
To include COGS in Wix, you need to use the Cost per Item feature. This feature will accurately track your costs as long as you are updating it when there are changes. Additionally, you need to calculate COGS for tax purposes. To do this, you need to use the formula: COGS = Beginning Inventory + Purchases - Ending Inventory. You also need to account for any fluctuations in cost per item, such as varying supplier costs or multiple shipments throughout the year. Finally, you must perform an end-of-the-year inventory count to get an accurate value of your ending inventory. By accounting for these factors, you can accurately include COGS in Wix and accurately itemize COGS on your Wix Schedule C report.
Craftybase is an app built to help Wix sellers track COGS accurately, using GAAP-compliant methods that assign real material costs to every order as you manufacture and sell.
Craftybase allows users to enter purchase orders, sales records, and inventory levels so it can automatically calculate accurate COGS figures. The app also provides reporting tools for users to view their expenses and profits more clearly, giving them a better understanding of their business. Additionally, the app can track inventory levels in real-time, helping users stay on top of their stock levels and making sure they don’t end up with too much or too little inventory. This helps keep their costs low and their profits high.
The COGS report in Wix is found under the Reports tab — it shows a period summary based on the per-item costs you’ve entered, but it is less accurate than a dedicated COGS tool.
From the Reports tab, select ‘COGS’ from the left hand menu and a summary of your Cost of Goods Sold will appear. This report is updated automatically when new orders are placed or payments are taken, based on the costs you have entered in per item. This way of calculating COGS isn’t as accurate as using a dedicated app such as Craftybase, but it still provides helpful insights into your business.
Wix’s cost-per-item feature requires manual updates and doesn’t account for varying supplier costs, batch production, or raw material usage. For makers who produce from recipes, accurate COGS requires tracking each ingredient purchase and deducting materials per manufacture run. Craftybase handles this automatically — your COGS is calculated in real time as you buy materials and record batches, not estimated from a static per-item price.
Craftybase calculates COGS using IRS-approved, GAAP-compliant methods — assigning material costs to each Wix order based on your full purchase history and rolling average unit prices. As you log material purchases and manufacture batches, Craftybase builds your COGS tally throughout the year. At tax time, you can generate a ready-to-use Schedule C COGS report without any manual calculation or year-end inventory scramble.
Streamline your end-to-end manufacturing process and gain real-time visibility into your inventory.
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