Tax Time and Reports

[WoodenTreasures]

With tax time just around the corner what plans have been put in place for etsy sellers to be able to print out monthly reports of direct checkout activity to enable us to break down income and expenses?

Thanks,
Jay

[OhSewDollin]

Good question. I have stopped using DC because of the lack of monthly reports.

[LLFarm]

If you link it to Outright the reports are easy and ready to be printed.

[OhSewDollin]

I was hoping for an answer by now. I do not use Outright and do not want to start just for this reason.

[RivendellRocksSedona]

What is Outright, how does it work and is it free?

[OhSewDollin]

Well, there is a free version and the $9.95 monthly version. I am not sure how useful the free is, maybe someone will chime in with more info.
http://outright.com/learn-more/pricing/

[FierceStitchCo]

Great info - thanks everyone!

[chattypress]

im curious as well! There has to be some sort of report - paypal makes it so easy

[OhSewDollin]

jen from chattypress says

im curious as well! There has to be some sort of report - paypal makes it so easy
__________

Well so for I haven't found it. I have stopped using DC until something is available.

[Former_Member]

Looking for the answer to this question as well... :)

[Former_Member]

Hi everyone,

We don't proactively send monthly reports to sellers based on direct checkout sales. You can download this data from your Etsy account, though. Go to Your Shop > Options and click the Download Data tab. Select "Orders" from the CSV type and the month and year you'd like to download.

Once you open the spreadsheet, you can filter direct checkout and PayPal sales to see what your volume looks like for each payment method.

We'll have more information as the end of the year gets closer and we are filing 1099k forms for anyone with over $20k AND 200 sales through direct checkout. We just published an article with some helpful info on this in the seller handbook: http://www.etsy.com/blog/en/2012/1099-k-primer-for-sellers-who-processed-20k-in-2012-sales/

[OhSewDollin]

Please explain how to "filter".
Thanks.

[Former_Member]

It depends on what program you use to view spreadsheets. If you are using Google Spreadsheets or Excel, there is a "Filter" tool that you can use to look at your data with certain criteria. There are a ton of tutorials on the internet how to use this if you are not sure.

[OhSewDollin]

Thank you! I figured out how to filter, that makes it much better.

But it would be much better if Etsy would just please add stats for the shop payment account.
I do not want them to "send" me a monthly total, just add stats for the shop payment account. (total of orders processed by DC, fees total, and etc.)
edited for spelling

[LLFarm]

Nicole,
Thank you for the link. I missed that one. It does have some good information.

[TheHunterGatherer]

If Etsy could breakdown the sales into DC and Paypal categories it would save me, literally, HOURS of book keeping each month.

[GardenCopperArt]

I will just go page by page and print out the sales and fees from when DC started to the last sale in Dec. Seems that's the only choice I have. DC needs to do statements like Paypal. This would be a pain if sales were enormous.

[FrittsCreative]

I don't use outright - I want more complete information than they provide.

This is a biggie Etsy - treat us like we run a business please!

[SashayRoseBoutique]

So to clarify, you must have sold at least $20,000 AND made 200 sales to receive the 1099-k not one or the other? For example, if a seller sold $15,000 but sold 150 orders they would not receive the form?

[SashayRoseBoutique]

Correction, I meant made $15k but sold 200 orders.

[Former_Member]

correct, Janie. eBay/Paypal do it the same way.

[peppersprouts]

Im bumping this up - I need a way to see (without flipping through tons of arrows on the shop payment tab) to see when and how much of a deposit was made from etsy into my account. (not just an email that i might accidentally delete) but for it to be accessible somewhere in the etsy backend

[Former_Member]

Jen,

I have found it easier just to look at my bank account for the dposits from etsy.

[peppersprouts]

Thanks griffin cat.... Guess I will just have to do that... Thanks :)

[Former_Member]

I work with Outright and someone mentioned us upthread. Outright has a free version and a pay version. The free version allows you to integrate DC, PayPal, your bank, credit card, etc. and view reports. All that is free.

Outright also has tax functionality that allows you to calculate sales tax, quarterly estimated taxes and annual taxes. If you're simply looking for reports, it probably isn't necessary.

Convo me or just ask if you have any questions.