Month: August 2021

So in the previous post I mentioned that the accounting for Etsy was a little off and I couldn’t figure out why. Well today I started digging into the problem and figured out what was wrong. Each month I have to download 2 reports from Etsy.

EtsySoldOrder2021-X.csv and etsy_statement_2021_X.csv

Unfortunately, I’ve been downloading EtsySoldOrderItems2021-X.csv by mistake. Since the two reports have slightly different information some of the data wasn’t making it into the final report. I started downloading the wrong report at the first of the year and didn’t notice the wrong file name because I started a new folder for 2021.

I’ll need to go back and run the right reports, run them through the report tool, and fix the entries in Quickbooks.

Glad I actually noticed that there was a problem or I might have kept making the same mistake over and over.

So Etsy doesn’t offer the easiest to use reports. On the report it would appear that I sold $773.54 and had $243.79 in fees for a profit of $529.75. But sometimes the report doesn’t include all the fees you might incure.

Here is the information that is pulled out of the itemized reports that get entered into QuickBooks.

In this case the two match but unfortunately that’s not always the case. Notice the $73.35 for marketing fees? This is where Etsy charges 15% for advertising on orders that originated on places like Google. Etsy gets 5% of the sale so the advertising benefits them so why do merchants have to give them another 15%?

This year something changed in the reports and now the credit Shipping Income doesn’t calculate in the tool I use to summarize the itemized reports. Also this year, I haven’t been able to balance my Etsy Bank Account. The Etsy Bank Account is the monetization customers pay for product and shipping minus my fees and expenses on Etsy. The deposit the money into the checking account every Monday. So I treat the undeposited funds as a bank account and record the deposits into the checking account as transfers from one bank account to another.

I need to dig into the reports and figure out why the Etsy Bank Account won’t balance. I sent an email to the owner of the tool I use but didn’t get a response.

Notice Etsy shows $773.54 as my sales and the tool shows $803.10. Kind of a big difference.