2020 Best Way to Record your Etsy Sales and Fees In QuickBooks (Part 5 Video 1)Etsy Shop Bookkeeping
30.8 هزار بار بازدید -
5 سال پیش
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*Update* 2022 changes to Etsy
*Update* 2022 changes to Etsy Shop Finances, new way to calculate journal entry: Best Way to Record your Etsy Shop Sal...
*Update* Check out my video on the new Sync with Etsy integration for QuickBooks Online! QuickBooks Online Integration with Et...
Let's just say that Etsy doesn't make it super easy to figure out how to record your Etsy sales and fees in your bookkeeping program of choice. Each deposit is a mash up sales, refunds, and a bunch of fees, yet there is no report in Etsy that shows you the break down of these components by deposit. So, I have found that the best way to accurately and easily record my Etsy Sales and Fees in QuickBooks is monthly, with a method I call the Etsy Bank Method.
This video walks you through what reports and numbers you will need from your Etsy shop manager, and how we use these numbers to accurately report our Etsy sales and fees in our bookkeeping program.
I'll be using QuickBooks Online Simple Start which you can find here: https://www.SmallBusinessSarah.com/qu...
That is my referral link because QuickBooks is the only program I use or recommend.
This video is for information purposes only and does not constitute tax or legal or accounting advice.
You will need to add some accounts to your Chart of Accounts in QuickBooks. This video makes it super easy to do that: Etsy Seller's Customize Your Chart of...
Checkout my entire playlist of Bookkeeping for Etsy Sellers that walks you through your Etsy Shop bookkeeping in QuickBooks step by step. Bookkeeping for Etsy Sellers
Easily find certain parts of this video:
0:00 How to do your Etsy Shop Bookkeeping
0:40 Why We Need a Method for Recording Etsy Sales and Fees
2:38 Find the Etsy Statement and Etsy Orders CSV file from your Etsy Shop Dashboard
5:33 Customizing your Chart of Accounts in QuickBooks (see also link to video above)
6:40 Add Your Beginning Etsy Bank Balance to QuickBooks
7:30 How to Categorize your Etsy Transactions in the QuickBooks Bank Feed
9:15 How to Categorize Etsy Charges to your Bank Account or Credit Card
11:05 How to Calculate your Monthly Journal Entry Manually
19:50 How to Calculate your Monthly Journal Entry Automatically
22:51 How to Post the Journal Entry to QuickBooks Online
27:23 How it All Works Together - The Explanation
30:00 What to do if QuickBooks Doesn't Balance to the Ending Balance per Etsy
31:25 How your Etsy Revenue and Expenses Looks on Your Profit & Loss Statement
Questions about taxes for Etsy sellers? Get a copy of my book, The Etsy Seller's Simple Guide to Taxes, for FREE here: SmallBusinessSarah.com/etsytaxguide
Get a FREE Small Business StartUp Checklist:
https://www.SmallBusinessSarah.com/st...
*Update* Check out my video on the new Sync with Etsy integration for QuickBooks Online! QuickBooks Online Integration with Et...
Let's just say that Etsy doesn't make it super easy to figure out how to record your Etsy sales and fees in your bookkeeping program of choice. Each deposit is a mash up sales, refunds, and a bunch of fees, yet there is no report in Etsy that shows you the break down of these components by deposit. So, I have found that the best way to accurately and easily record my Etsy Sales and Fees in QuickBooks is monthly, with a method I call the Etsy Bank Method.
This video walks you through what reports and numbers you will need from your Etsy shop manager, and how we use these numbers to accurately report our Etsy sales and fees in our bookkeeping program.
I'll be using QuickBooks Online Simple Start which you can find here: https://www.SmallBusinessSarah.com/qu...
That is my referral link because QuickBooks is the only program I use or recommend.
This video is for information purposes only and does not constitute tax or legal or accounting advice.
You will need to add some accounts to your Chart of Accounts in QuickBooks. This video makes it super easy to do that: Etsy Seller's Customize Your Chart of...
Checkout my entire playlist of Bookkeeping for Etsy Sellers that walks you through your Etsy Shop bookkeeping in QuickBooks step by step. Bookkeeping for Etsy Sellers
Easily find certain parts of this video:
0:00 How to do your Etsy Shop Bookkeeping
0:40 Why We Need a Method for Recording Etsy Sales and Fees
2:38 Find the Etsy Statement and Etsy Orders CSV file from your Etsy Shop Dashboard
5:33 Customizing your Chart of Accounts in QuickBooks (see also link to video above)
6:40 Add Your Beginning Etsy Bank Balance to QuickBooks
7:30 How to Categorize your Etsy Transactions in the QuickBooks Bank Feed
9:15 How to Categorize Etsy Charges to your Bank Account or Credit Card
11:05 How to Calculate your Monthly Journal Entry Manually
19:50 How to Calculate your Monthly Journal Entry Automatically
22:51 How to Post the Journal Entry to QuickBooks Online
27:23 How it All Works Together - The Explanation
30:00 What to do if QuickBooks Doesn't Balance to the Ending Balance per Etsy
31:25 How your Etsy Revenue and Expenses Looks on Your Profit & Loss Statement
Questions about taxes for Etsy sellers? Get a copy of my book, The Etsy Seller's Simple Guide to Taxes, for FREE here: SmallBusinessSarah.com/etsytaxguide
Get a FREE Small Business StartUp Checklist:
https://www.SmallBusinessSarah.com/st...
5 سال پیش
در تاریخ 1398/09/04 منتشر شده
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