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A
Anonymous
February 18, 2022
Question

Etsy deposits

  • February 18, 2022
  • 8 replies
  • 26 views

How do I categorize etsy deposits into my bank? If it is already imported from etsy from the sale isn’t it a duplicate?

8 replies

AlexV
AlexV
Level 10
February 18, 2022

Hi Em84!


Thanks for the reply. Let me assist you with the Etsy transactions.


The way we link Etsy to QuickBooks Self-Employed is the same way we link a bank account. Currently, we are unable to match the downloaded transactions from Etsy and the bank.


What you'll want to do is exclude the duplicate transaction from the bank. Simply check the box of that transaction, then select the Exclude icon at the top.


I added this article if you need help in categorizing transactions and importing receipts in QuickBooks Self-Employed:

 

Keep on posting here if you need anything else. Stay safe!

A
Anonymous
February 18, 2022

I kept looking and found for every deposit there is an equal negative transfer from etsy. Wouldn’t that equal it out? 

R
RCVQuickBooks Team
QuickBooks Team
February 19, 2022

Thanks for the help however I don't feel this answers my question. The sale amount was $50 and it says the sale itself is a fee but it is marked as income because it is. 


Thanks for coming back, Em84.

 

Etsy may break single transactions into multiple ones. The actual sales come into QuickBooks Self-Employed but things like sales tax and shipping only sync once a month. You can find this information o your Etsy account. To verify the $50.00 if it is a fee or tax, it would be best to contact the Etsy support team. QuickBooks depends on the transactions being fed through by Etsy. 

 

If there are duplicates, you can exclude them instead. Let me show you how: 

  1. Go to the Transactions menu.
  2. Find those duplicate transactions. 
  3. You can select it to expand the view and put a checkmark on the box that says “Exclude this transaction (this is for duplicates, reimbursements, customer refunds, and returned purchases).”
  4. Hit the Save button.

 

I've added the splitting and categorizing transaction articles for your reference. These resources help you organize your events properly and provide extra knowledge on how to split a single transaction between a business and personal, or into multiple categories.

 

Please let me know if you have other concerns about handling bank transactions in QuickBooks Self-Employed. I’m here to ensure your success. Have a good day.

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