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tina91
Level 1

Splitting Profits

Hello All! I run an Etsy shop with a friend and we both sell handmade products. We each keep the profits from the items we sell. How can I calculate who gets what out of every Etsy deposit? We currently use Quickbooks for small business.

3 Comments 3
Kristine Mae
Moderator

Splitting Profits

Let me help you sort this out, Tina91.

 

Once transactions are imported, the vendor and customer info from your Etsy transactions are not included. You'll want to track each sale manually when it's deposited. Then, split the transaction. 

 

Feel free to check this article to better guide you: Import transactions from your Etsy shop into QuickBooks Online.

 

Also, I suggest conferring with your accountant on the best way to handle this situation.

 

You're always welcome to post in the Community if you have other concerns. Take care!

tina91
Level 1

Splitting Profits

Hi Kristine! Thank for your reply! I have an additional question, do you happen how we can make the process of splitting the profits a bit easier? Either with Excel or some other program?

 

Thanks!

katherinejoyceO
QuickBooks Team

Splitting Profits

Thanks for coming back, @tina91

 

You can visit our QuickBooks App Store and search for a third-party app that will work for you and your business. 

 

For future reference, you'll want to learn about splitting transactions between multiple accounts in QuickBooks Online. 

 

Post again and let us know if you have other questions. Take care!

 

 

 

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