Inventory, manufacturing process, business success topics for small DTC manufacturers.
bookkeeping tax
As a maker, one of the first things to realise is that you are not just a retailer of your goods - you are also a manufacturer of them. Why does this matter? Well for starters, it changes everything about the way you need to report your end of year revenue and expenses to the IRS.
Not sure whether to use FIFO, LIFO, or weighted average cost for your handmade business? Here's what each method means in practice — with real maker examples — and which one Craftybase uses automatically.
inventory management
The IRS doesn't care how small you are. If you make products from raw materials, you're required to track inventory. Here's what Publication 334 says — and the best way to keep track of inventory for your small business.
handmade success
Good record keeping for your craft business means tracking income, expenses, COGS, and inventory — so tax time doesn't become a crisis. Here's exactly what to track and how.
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Because they don't know what their products actually cost to make.
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