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Join nowI want to ensure this is taken care of, @wyork007.
QuickBooks will depend on the transactions downloaded from Etsy. To fix this, we can check your set up from Etsy. If it's correct, we can also see each transaction if there are duplicates and exclude them.
To exclude transactions, here's how:
I've also added this article about Categorizing transactions in QBSE: Categorize transactions in QuickBooks Self-Employed.
Drop me a comment below if you have other questions. I'm more than happy to help. Take care!
I don't have Quickbooks connected to my bank. Just to Etsy and my credit card. I did a little research and someone said it has to do with sales tax being collected by Etsy but Quickbooks see it as income? Is this the problem?
Hi @wyork007,
That is correct. The data that Etsy sends for income includes the amount they collect for sales tax.
What you can do is use the sales tax totals from Etsy to calculate your sales tax payments. Make your sales tax payments, and after your bank processes them, go back to your QuickBooks Self-Employed (QBSE) company.
I suggest you categorize the transaction as Business. You can view this article for more details: Manually track sales tax in QuickBooks Self-Employed.
Tag me in the comments below if you have other concerns with your QBSE company. I'll get back to you as soon as I can.
@Ryan_M I'm having this same issue... But how exactly is this supposed to work when Etsy is collecting and remitting the Sales Tax for many states on our behalf? So we never actually process a "payment" but it's being reflected in our "income" regardless? For me, this is nearly a $30,000 problem.
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Hello, TheUrbanFlair.
Let me chime in and help you with this query. In this case, I recommend reaching out to Etsy. They can help you verify regarding collecting and remitting the Sales Tax on our behalf. QuickBooks only generate data whatever they send to our system.
I'm always here if you need more help with your account. Take care and have a wonderful day
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