Import transactions from your Etsy shop into QuickBooks Online
SOLVED•by QuickBooks•102•Updated 6 days ago
Learn how to automatically import transactions from your Etsy shop into QuickBooks Online.
Do you sell your products on Etsy? You can use the Sync with Etsy app to bring transactions from your Etsy payment account into QuickBooks. The app automatically enters and categorizes each sale, refund, and fee. It’s a great way to save time and keep your books up to date.
Here’s how to set up the app and get your Etsy transactions into QuickBooks.
To watch more how-to videos, visit our video section.
Step 1: Set up accounts in QuickBooks if you need to
Before the Sync with Etsy app imports your transactions, make sure these accounts are set up in QuickBooks:
The bank account where Etsy deposits your money from sales
The bank or credit card account where Etsy charges your seller fees
You can check if these accounts are already in QuickBooks by going to your chart of accounts:
With your accounts set up, you’re ready to connect QuickBooks to your Etsy shop:
Go to Apps, then select Find Apps.
In the Search field, enter “Etsy” and select Sync with Etsy from the list.
Select Get app now.
Follow the instructions on the screen to set up the app, including these steps:
Give Intuit permission to access your Etsy shop.
Select the bank accounts you set up in step 1 so the app knows where to enter transactions.
Select the import start date. The app can import transactions as far back as January 1 of the previous calendar year. Note:If you choose a start date from the past, the app may import Etsy transactions that are already in your books. You may need to make adjustments so these transactions aren’t counted twice. See step 3 below.
After you finish setup, the app begins to import your Etsy transactions into QuickBooks. Depending on the number of transactions, it may take a few hours to finish.
After the first import, the app checks your Etsy payment account at least once every three hours and brings in the latest transactions.
Important: When Sync with Etsy connects to QuickBooks, it adds accounts, services, and customer and vendor names to your company. We recommend you keep these items exactly as they are to ensure the app imports your Etsy transactions properly.
Step 3: Adjust your books for past transactions if you need to
If you choose to import Etsy transactions from the past in step 2, the app may add transactions that you already have in your books. This may cause them to be counted twice in your accounting.
Review your QuickBooks income and expenses for any Etsy transactions that you posted before you set up the Sync with Etsy app. If you find any, learn how you can make adjustments to your books so your accounting stays accurate.
Note: You only need to make these kinds of adjustments after the first import. When the Sync with Etsy app imports new transactions, it automatically creates transfers that match to deposits or charges to your bank or credit card account. This helps prevent transactions from being counted twice and your income or expenses from being overstated.
Going forward: Reconcile your Etsy account and bank account
Like other accounts in QuickBooks, you’ll want to review your “Etsy ” account each month and make sure it matches the statement from the bank you use for your Etsy payment account.
You can use your bank’s monthly statements or download monthly statements from Etsy. Note: Etsy’s statements show the transactions in your payment account for that period but do not have beginning and ending balances.
When Sync with Etsy connects to QuickBooks, it adds accounts, services, and customer and vendor names. To help make sure the app imports your Etsy transactions properly, here’s what you can do:
Accounts
Keep all the accounts the app creates and don’t make them inactive.
Don’t change the account type or detail type.
Don’t rename the parent accounts.
It’s okay to add account numbers to these accounts.
Services
Keep all the services the app creates and don’t make them inactive.
Don’t change the item type.
Don’t rename the parent items.
It’s okay to change the account assigned to the service item.
Customer and vendor names
Keep the customer and vendor the app adds. This helps you better identify the transactions from Etsy.
Etsy sales post to the following income accounts by default:
Etsy Shop Sales:Product
Etsy Shop Sales:Services
Etsy Shop Sales:Discounts
Refund receipts post to the income account Etsy Shop Sales:Refunds.
Note: Refunds imported before March 8, 2021 will post to Etsy Shop Sales: Product, Etsy Shop Sales: Services, or Etsy Shop Sale: Discounts. Refunds imported after that date will post to Etsy Shop Sales: Refunds.
Here’s what the accounts look like in a Profit and Loss report in QuickBooks:
No, currently the app doesn’t import the product info from your Etsy listings and inventory. It uses the same name, “Etsy: Product Sales,” for all your products in these transactions.
No, currently the app doesn’t import customer and vendor info from your Etsy transactions. It uses these names for the customer and vendor fields in transactions:
The app records sales tax that’s collected and remitted for an Etsy order as a line item on the sales receipt or refund receipt. The default account it uses is “Etsy Shop Sales Tax Clearing.”
You can change the Etsy shop QuickBooks is connected to by first disconnecting the currently connected shop:
Sign in to the QuickBooks company connected to your Etsy shop.
Go to Apps, then select My Apps.
Select Disconnect.
In the pop-up window, select Confirm Disconnect.
You’re now ready to connect another Etsy shop. See “Step 2: Set up the Sync with Etsy app.”
Note: If the previous connection to your other Etsy shop added transactions that you don’t want in your QuickBooks, you’ll need to remove them manually.
The Sync with Etsy app imports all sales, refunds, and fees from your Etsy payment account into QuickBooks Online and categorizes them. What you see in QuickBooks Online reports will differ from Etsy. Here are the key differences.
Etsy Monthly Statement
QuickBooks Profit and Loss Report
Excludes refunds
Includes refunds
Includes merchant Fees
Merchant fees reported as an expense
Etsy Stats
QuickBooks Sales by Product/Service Summary Report
Includes revenue from sales of listings
Includes revenue from sales of listings
Excludes refunds
Includes refunds
Excludes revenue from services (shipping, gift wrap etc.)
Includes revenue from services (shipping, gift wrap etc.
Excludes discounts
Includes discounts
Excludes merchant fees
Includes merchant fees
Excludes sales tax collected/remitted
Includes sales tax collected/remitted
Etsy 1099-K
QuickBooks Profit and Loss Report
Total dollar amount of total reportable payment transactions
By default, Income from orders are categorized to these accounts: Etsy Shop Sales:Product Etsy Shop Sales:Services Etsy Shop Sales:Discounts
Refunds are categorized to Etsy Shop Sales:Refunds