While the Etsy Entry App is still a great way to record your Etsy Sales and Fees accurately in QuickBooks Online (Simple Start, Plus, and Advanced), QuickBooks has just released (February of 2021) their own integration called Sync with Etsy. You can find it in the Apps section of your QuickBooks Online account. Sync with Etsy is a great tool for Etsy sellers, and it's free. Watch this video to see how it works. Currently, the Sync with Etsy app is my recommendation for bookkeeping for Etsy sellers. However, Sync with Etsy only works for one shop, and is not available to international sellers at this time. If you need an Etsy bookkeeping method for a second shop or are an international seller, than my Etsy Entry App is still a great solution for you. Read on!
A great option for recording your Etsy Sales and Fees within QuickBooks is the Etsy Bank Method. Watch the video below that explains the Etsy Bank Method, why we need it, how it works, and how to use this app to calculate your monthly journal entry.
Try the app out first, if you are happy with the results, then consider making a small payment to keep the app updated and running.
For a complete look at why we need a method to record our Etsy sales and fees, how to calculate the entry manually, and how it all works together, watch this comprehensive video first.
Any questions? Leave them in the comments on YouTube.
Disclosures: This Etsy entry app is not endorsed by Etsy or guaranteed in any way. Use at your own convenience. This page may contain affiliate links.
- From your Etsy shop payment account, select the month you are creating the journal entry for
- Below the graph for that month, click the CSV button to download that month's statement
- Note the ending Etsy balance while on this screen
- Next, from the left menu go to Settings, Options, Download Data
- Select the Orders CSV file for the applicable month
- On the app select your sales tax state (the state in which you live). If you collect sales tax for another state, select a state from the second box.
- Browse for your Orders and Statement CSV files
- Hit the gray button to upload the CSV files and calculate your entry
- Post the entry as a journal entry, make sure to date it as of the last day of the month
- From the bank feed, all Etsy deposits should be categorized to Etsy Bank
- Pull up the Etsy register, does the ending Etsy balance per QuickBooks agree with the ending balance per Etsy?
Thank you! Your support makes it possible for me to provide this Etsy bookkeeping tool, and keep it updated and functional. Use the app first, if you love it, then I would appreciate your support. Thanks!
The Etsy Entry App
Make sure you have the CSV files you downloaded handy. You will need to upload them below. The numbers generated from the app will be added to your monthly Etsy journal entry.
In April 2020 Etsy issued Listing Fee Credits (maximum 100) to shops selling Face Masks. This random adjustment is not included in the entry app calculation. To adjust for it, find your Face Mask Credit line on your monthly statement CSV, and reduce your listing fees in your generated journal entry by this amount. Please also note that some people received this credit who were not actually selling face masks. Not sure why!
In July 2020 some sellers are receiving a Miscellaneous Support Credit from Etsy (in general the amount is $50). As of now, this amount will not populate in the generated entry below. If you received this credit, create a new income account in your chart of accounts for this miscellaneous item. I would call it Etsy Miscellaneous Support Credit, make it an Income account, that is a sub-account of your Etsy Income account. When you create your Etsy entry, add a new line for this account and credit your Miscellaneous Support Credit account for the amount of credit you received (most likely $50) and reduce your Etsy Bank debit by the same amount. You can determine the amount of credit you received by looking at the line by line detail on your Etsy Statement csv file.
In 2021 Etsy made a change to their Etsy Statement CSV file. This change caused any Shipping Expense (labels purchased) to not populate in the Etsy Entry generated by this application. The Shipping Expense figure can still be obtained by sorting the statement CSV as shown in my video. This issue should be fixed. If not use the form below to report a problem.
To report issues with the Etsy Entry App, please use the form below. This form should be used after you have used the CSV files to manually calculate the entry amounts, and have concluded that the Etsy Entry App is generating misinformation.