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.