Payment account

[CraftsByZoeC]

Hi

Please can some help me. My net profit is not the same in my available for deposit. I have it set up to be deposited into my bank monthly. It already is done automatically taking away the fee's. However my availability deposit seems incredible low from my net profit. It also changes daily. Just really confused and this is my first time selling on here. 

It is making it look like Etsy is taking 60% of everything if not more. 

Any advice would be greatful.

[AVAArtsSupplies]

There may be a reserve on your account. Also, Etsy subtracts any money you owe: listing fees, marketing fees, shipping fees, selling fees.... from your income. 

[VintageRescueSquad]

Yes, check to see whether there is a reserve on your account. https://help.etsy.com/hc/en-us/articles/360058722214-What-is-a-Payment-Account-Reserve

There are many reasons there may be a reserve on your shop

[UniqueGiftOrnaments]

You may be on reserve because your shop is full of trademarked items which, if you read the rules, are not allowed on Etsy (or anywhere for that matter)

[BagmakerSupply]

@CraftsByZoeC: You cannot depend on Etsy's interpretation of your 'net profit' - you need to keep your own records of credits and debits and see if that balances against the deposit totals.

And you really do need to include YOUR licensing information for all of the trademarked and copyrighted names and images in your shop in the listings, otherwise buyers (and Etsy) may conclude they are counterfeits. Including the licensing information will show that you are not selling those items illegally. You should also complete your shop (about, policies, etc). All those things hurt your shop.

[CryzalisMasksUK]

When did you start your shop?

[CryzalisMasksUK]

As a new seller there is a block on your account for a minimum of 90 days from your first sale.

Payment for each sale will become available after 20 days

For example, sale on the 1st July for argument sake is 138 GPB which after fees etc.. leaves a balance off 109 GPB, this will become available on the 21st July, however when listing or other sales come in before these funds become available then the fees from the new listings or sales are all deducted, which will bring the initial pay-out down as the following sales all have a 20 day block on them from the date of sale.

You may want to read up on counterfeit and IP though, because if they look at your shop or you get reported then you lose your shop, customers are refunded from your account and if there are any funds left, you will receive them 6 months after the shop has been closed down.

[CraftyCornishMaids]

monthly deposits are paid on the first Monday of the month, they are not actually monthly

they are every 4 weeks, then 4 weeks, then 5 weeks, and will not match anything on etsys monthly figures, as they are not monthly.

Etsy deducts fees straight away, but does not make money available for new shops, for 3 days, so fees will be coming out, before money is available to deposit, so you will see the "available to deposit" drop on a sale - the "current balance" will go up, and the next time the 3 days are up, the "available to deposit" will go up again.

If you are on a payment reserve, the 3 days could be longer, see your finances page for that

If you download the csv everything is itemised,  sum the columns, you will see exactly what you are paying

If you have offsite ad fees, you can turn them off - settings - offsite ads, click 3 times to confirm

....

the monthly deposits are correct, the monthly net profit is correct - they just won't match, because they are not in the same timeframe.

[FancyTogs]

If you download the CSV from the finances > monthly statement page you will get every transaction in & out of your shop account.

Create a spreadsheet to make sense of it. The pinciples of how to do it are here:
https://community.etsy.com/t5/All-Things-Finance/New-Payment-Account-gt-Reconciling-your-CSV/m-p/199...

It's an old forum thread, Etsy changes the csv format slightly occasionally, and sellers have different needs, so you'll need to fix and adapt it. 

Lawrence (Clare's other half)

[CryzalisMasksUK]

For the first 90 days from your 1st sale there is no payment reserve. It is a 100% block, which means that every sale you make is paid 20 days after the order date.

[CraftyCornishMaids]

etsy can hold 45% for 90 days

or 100% for 90 days

or 100%  for 20 days

it's still a reserve

[CryzalisMasksUK]

Etsy told me it is a block, not a reserve, a reserve would show in your dashboard, this does not. 

It is a 90 day period for new shops from the day you make your first sale. They will hold 100% on each sale for 20 days on all sales made during the 90 day period. And unless you spoke to Etsy on the Phone, you would probably not even know.

After this your shop could go on a reserve, but she explained, you would see a reserved section in your dashboard and then the rules regarding reserves kick in.. i.e. hold a % and having funds released once tracking has been entered.