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?
I dont think we should have to sign up for another service in order to get better reporting. I don't want to use outright, as I use Quick books. It would be beneficial to many many sellers to have better reporting for tax time ( and all year long) from etsy now that they are also a payment processing facility... i would be happy to chat with anyone from etsy about what I would like to see in reporting ( and what my book keeper would like to see as well)
And as far as outriight goes, now that they are owned by godaddy (remember them... supporters of SOPA, really really really sexist and exploitive ads towards women).. yeah I think I will continue to stay the heck away from that.
One of the first steps was to try and help the 27 millions small businesses in this country (many already GoDaddy customers) , and that's why they acquired Outright, Etsy's preferred bookkeeping partner. We're really excited about what they're doing. I'm not asking you to change to Outright if you don't agree with GoDaddy, but I hope that you'll wait and watch as the company matures.
For those of you who mentioned the Etsy "deposits" from DC, be sure to remember that those deposits already have the fees subtracted. So if you're trying to figure "gross sales" those figures won't work.
You are correct Lori. I do not look at the different reports available, because I am still one of the old school folks that puts more trust into a pen and notebook, but for gross sales in a year, can you not just look at your shop stats?
Griffincat -- I think for the stats figure to be "gross", you'd need to add the shipping and subtract refunds, but I guess it would be a good starting point, right?
As a self-employed person, I keep track of all my receipts, sales, etc in a ledger. I put all receipts in a shoebox (I know cliche') and mark it by year and go from there. It seems to work for me so far. I'm up for new and better ways.
I'd like to know as well. Etsy makes tax reports so difficult. The CSV reports available are really not helpful as you must filter out all the crap not needed for taxes. Why can't etsy provide a simple report of gross, net, breakdown of fees paid, etc. I have to print out all the monthly reports and manually calculate everything.
If anyone has a better way or if I just don't get it, please help.
I agree with other comments here that the PayPal reports are much better.
