Any Tips for Processing Etsy Statements / Payments?
webdad
Member Posts: 2
I've got both my bank and Etsy integrated just fine. Everything is importing as desired. My problem comes with trying to break apart expenses for each of the payments I make to Etsy each month.
Those payments cover:
1. Etsy Listing fees / Auto-renew listing fees
2. Etsy transaction fees
3. Mailing Labels
Primarily, I'm just interested in allocating the Mailing Labels to my postage category and everything else can stay with "Etsy service fees".
The challenge is that as I start up, I've been making multiple payments to Etsy each month and each payment has a mix of the above. It gets even more challenging when the payment day has other activity that didn't get into the payment and is deferred to the following payment.
Their statement export each month doesn't break out the categories for each payment, you basically just get a timeline, so I've been spit-balling some excel jockeying to try to find totals that match.
Just wondering if anyone has a better approach.
Comments
I don't use Etsy myself, so take this with a grain of salt, @webdad. This is just how I would handle it.
The first thing to note is that this is just for your own information. So you can get away with categorizing those transactions however you want as long as they all end up as expenses and were all paid for. Estimating the amount you would categorize as postage is absolutely fine and valid. I would just try and get a rough idea of postage/item and approximate, split the payment into Etsy Service Fees and Postage.
You might be able to get more info from Etsy directly too. Their people might be able to give you a better idea of the breakdown.