I get it. You didn't start your Etsy shop so you could spend your precious time Googling "bookkeeping and taxes for Etsy sellers."
However, your business finances are important, and getting your financial house in order does not have to be as difficult as you think.
Let me help you get your Etsy shop bookkeeping set-up and help you understand your taxes, so that you can get back to creating and selling!
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Save time with an automated bookkeeping program like QuickBooks.
Understand your business finances so you can make better business decisions.
Save money when you do your own bookkeeping.
Be ready come tax time, no more scrambling!
If your Etsy shop is based in the US and you only have one Etsy shop, Sync with Etsy for QuickBooks Online is the fastest and easiest way to do your bookkeeping. You can see how simple it is in the video below.
Bookkeeping for Etsy Sellers
If you’re a bookkeeper, there will likely be situations when you need to review the work of another bookkeeper, understand what they did, and determine where things stand. This might happen if you’re working with a new client who was previously working with another bookkeeper or if you begin to hire bookkeepers to work for
Read MoreOver the past ten years, I’ve talked with a lot of new Etsy sellers who wanted to make sure they were doing a good job with their shop finances. They were putting in the work to track their income and expenses and doing some sort of bookkeeping throughout the year, but QuickBooks Online was more
Read MoreOver the past ten years, I’ve helped a lot of Etsy shop owners and eCommerce sellers with their bookkeeping. This has allowed me to test different bookkeeping software and understand the various challenges small business owners face with their financial records so that I could create solutions. About five years ago, I began creating video
Read MoreAre you wondering why the amount on your Etsy 1099 doesn’t match the numbers you have in QuickBooks Online and how to fix it? In this post, I’ll show you step-by-step how to tie out the profit and loss reports that you have in QuickBooks Online Simple Start to the 1099 you received from Etsy.
Read MoreThe advertisements for QuickBooks for Etsy are so appealing! “Instant integration with your Etsy shop.” “Track your sales, expenses, and tax-deductions.” “Tidy up your shop’s finances.” With all of those promising claims, who wouldn’t want to use QuickBooks for Etsy, otherwise known as QuickBooks Self-Employed, for their Etsy shop? Let me explain why you might
Read MoreRunning an Etsy shop is a meaningful business venture for many creatives. You get to share your creations with others and get paid. But for most Etsy shop owners, the most dreaded part of the job is bookkeeping. It’s even scarier than marketing and social media. That’s why I put together this Ultimate Guide to
Read MoreTaxes for Etsy Sellers
Are you wondering why the amount on your Etsy 1099 doesn’t match the numbers you have in QuickBooks Online and how to fix it? In this post, I’ll show you step-by-step how to tie out the profit and loss reports that you have in QuickBooks Online Simple Start to the 1099 you received from Etsy.
Read MoreBuilding a successful business is exciting, but it also stretches you. But like a savvy business owner, you realize the importance of ongoing education, and you’re committed to learning everything you can in order to grow. As part of your growth strategy, you might decide to attend an out of town business conference that’s relevant
Read MoreTaxes. The word strikes fear in most small business owners. They prefer the ostrich approach to taxes–if I keep avoiding it, everything will be ok. But as much as you dread filing your taxes, it is a necessity. So let’s walk through some of the potentially confusing things together. In this post, I’ll cover the
Read MoreThere are at least 101 tax deductions for Etsy sellers! Don’t miss out on a single tax deduction for your Etsy shop business. Whether you sell handmade products, craft supplies, or vintage lovelies, we have got you covered! Here are 101 tax deductions to get you started! This post contains affiliate links, see my disclosure
Read MoreIt’s quite easy to claim a business mileage tax deduction on your small business tax return. Whether you are an Etsy Seller, a blogger, a virtual assistant, or any number of things, most likely you are using your car on occasion for business purposes. That is your signal to calculate your business mileage tax deduction!
Read MoreWith the recent changes to the shop payment account on Etsy, I fully expected to find the amount of sales tax collected (and therefore sales tax payable) right on one of their new pretty charts. A pretty important number to bookkeeping success! When I could not find sales tax information anywhere in the new shop
Read MoreWhen I started my first online business way back in 2012, there was a lot I didn't know. However, the one thing I did know was how to do my small business bookkeeping and taxes. Armed with an accounting degree and CPA license, I wasn't worried a bit about crunching the numbers for my business.
That isn't true for most people. I'm guessing that when you first started your Etsy shop, bookkeeping and taxes were near the bottom of your priority list! There are too many other more exciting things to do for your shop. Who has time to worry about the numbers?
While you can get away with ignoring your bookkeeping and taxes for a little while, at some point you must deal with your business finances. I don't want that to be scary or intimidating for you! My goal is to create content that helps you understand exactly how to do bookkeeping for your Etsy shop and file your taxes.
There are so many benefits to be gained by taking control of your bookkeeping in the early stages of your business. Taking control will save you time, money, and end of year tax time stress.
But the most important reason to spend some time on your Etsy bookkeeping is that bookkeeping allows you to produce financial reports like a Balance Sheet and a Profit & Loss Statement. These reports in turn allow you to analyze your business and make educated financial decisions. Too many people blindly run their business, not even knowing if they are making a profit or not. Don't let that be you.
You can explore my most popular articles above, and you can also find my free Etsy bookkeeping training on YouTube. This playlist will walk you through your Etsy shop bookkeeping, step-by-step.
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-Sarah
Small Business Sarah
© 2020 by Small Business Sarah. All rights Reserved.