Qualification, preparation, and use of lipid compounds as analytical reference standards are daunting endeavors. The sheer vastness of the number of lipid compounds present in biological samples make it impossible to directly standardize each entity. Available lipid compounds chosen for preparation as standards are difficult to maintain as pure entities of stable concentration due to their physical and chemical interactions. The lipid chemist must understand these constraints for each chosen molecule to construct a standard material, which provides accurate measurement for a practical length of time. We provide methods and guidelines to aid the chemist in these endeavors. These aids include analytical methods for preparation and handling techniques, qualification of candidate materials, packaging, storage, and, finally, stability testing of working standard materials. All information will be provided under the purview of standardization of lipid analysis by mass spectrometry.