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Your Etsy Shop’s Finances, Simplified


Your shop’s finances, simplified The money you made on Etsy and any fees you owed
used to be totally separate. We wanted to make things simpler. And that’s why we’re giving
your payment account an upgrade. We’ve redesigned your payment account so you can manage
your shop’s finances in one place. It’s simpler and clearer. And now, it’s easier to see
exactly how much you make and what you were charged. Everything in one place Your payment account and bill
are now combined. We’ll automatically deduct
all of your Etsy fees from the money you’ve made
using Etsy Payments. And you can see how much you owe or how much is available for deposit
to your bank account at any time. Request an earlier deposit
to send that money straight to the bank at no extra charge. Or, check to see when your next
scheduled deposit will take place. See exactly how much
you’ve earned and spent Made a sale? Talk about cha-ching! Each time you make a sale
or receive a credit from Etsy, it’ll appear in your recent activity. Any fees you’re charged
are automatically deducted, so the money that’s left
is what’s available for you to deposit. Stop doing math
to figure out conversion rates. If you use Etsy Payments,
and your currency is supported, you’ll be charged in your local currency. Dig into the details Select a time period and see exactly how much
you’ve spent, and on what. The fees you paid are categorized so you can see exactly
how much you’ve spent on listings, shipping labels,
and marketing. This will help you make
more informed decisions about your business. Easily see all your past statements and download a spreadsheet
for each month.

Norman Bunn

84 Comments

  1. Will we still be able to purchase shipping labels and "pay them off" later? This is a useful function for me when there is no money in the bank but I need to ship something.

  2. No more paying our bill with our own payment method. I will no longer purchase Etsy shipping labels in this case.

  3. I'm glad that the fees will be automatically deducted. I hate paying the bill all of the time

  4. Great upgrade Etsy! Looking forward to this. Thanks for always taking great care of us!

  5. I like the categorized Fees & Taxes, but I don't like being automatically charged with a fee, from my sales. Much easier on the books, the "usual" way.

  6. Only 10 years later and Etsy finally listened to their sellers. I guess better later than never 🙂

  7. My Etsy bill is almost always about a third of my Etsy sales. How did somebody make $350 on Etsy and have a Bill of $45? Serious question. I must be doing something wrong.

  8. Good – I will be able to see whether it is worth keeping my shop! One question though, why would there be a need for 'What's owed', IF the money is automatically deducted?

  9. Love the fact that payments will automatically be deducted instead of having to constantly go and pay.

  10. Oh this is good. I have a larger shop and it's so frustrating having to look in different places to see all my finances for the week.

  11. This looks good, but if you had "last year" and "this year" as a choice in the monthly statement drop down box that would be even more helpful especially come tax time.

  12. I'm from the UK and can't wait for this as its such a nuisance to have to manually pay my etsy bills. Having it automatically deducted is just perfect. Thanks etsy

  13. This is good. I usually don't think the upgrades Etsy makes were necessary, but this one makes a lot of sense. 🙂

  14. I am not happy about my fees being deducted by etsy. I have always paid my fees on time, and this update, in my opinion, is so Etsy can get their fee right off the top, right away. It takes away my ability to manage my own shop. Each shop, while under the Etsy umbrella, is a separate business, and should be treated that way. I love many things about Etsy, but I don't love this update.

  15. Thank you. 🙂 Finally. Very good time saver and makes financial projections much easer.

  16. Thanks for the update. Look forward to a strong holiday season and being able to review my end of year P&L with this new format.

  17. If you would rather fix PayPal options or start supporting more currencies, it would make many people waaaay happier than this -.-

  18. Terrible.

    If you spend 100,000 on Etsy during the year, your Credit Card gives you points, cash back, etc. You essentially eliminated this to save on CC Processing Fees, Chargebacks, etc. This is $2,500 on a 2.5% Cashback card.

    Bottom Line. If you are a major seller on Etsy, they just cost you a vacation, credit history, and made it more difficult to demonstrate your expenses.

  19. This is complete B.S. You aren't doing your Etsy sellers any favors. You are doing this for yourself. Please don't try to act like it is for us. Also, changing accounting methods in the middle of the calendar year only makes bookkeeping more complicated. You guys are getting so greedy that you will lose sellers.

  20. Dear Etsy, since you've made the last changes, my sales went to the ground. I had promotion, but received 0 (ZERO) orders from it. Also, the daily visits are very low. What have you done?

  21. We would really like to run these through rewards credit cards ETSY- Its a hefty lose for absolutely no reason. Make it optional

  22. This looks like a win/win. I get simplified and clear reporting, (something I have been wanting) – and Etsy gets their fees at the time of the transaction instead of waiting until the end of the month. I like the changes. Now, if only they would program in a simple monthly report I can use for sales tax filing.. Maybe the info will be included in this update.

  23. Thank you!!! It was so confusing! So glad you guys finally updated this…….YAY Etsy!!!

  24. I appreciate the clarity of the breakdown of fees but the new 'Pay Etsy first' plan I don't appreciate. I have always paid on time and I like better control of my own finances which includes paying fees when it works best for me, not for Etsy.

  25. Thanks Etsy!! This is awesome and so much easier to see everything. Thank you so much for doing this for the sellers like me. I love Etsy!!!!!

  26. Hi, I love the concept but would prefer the option to pay my bill when I choose to instead of having it withheld from a transfer. Is this feature optional?

  27. I love everything BUT the auto-deduction. I never take the money directly out of what I make on Etsy. There was something great about getting that full deposit every week and being able to see exactly how much was coming in, but now its going to be all screwed up once a month? Kind of a downer. I wish there was a way to opt out and still pay manually.

  28. Please make payoneer a means of getting paid on Etsy as well.. We'll be more happier, thanks.

  29. When will this take effect? I think this is a very smart move…it makes more sense to have it all in one place, and have the amount I owe for fee's and shipping taken out of my balance. And to see everything all in one place!

  30. I'm super excited for this. People can't claim "greed" when it's the money due to Etsy for using their services. You don't get to walk into a marketing firm and have them help you only to turn around and say "well, thanks but I'm not going to pay you for 30 days!" I think it's totally fair that they take their fees out early AND I love the new system because now I don't have to look back and forth between the pages to see how much I really have or separately pay my bill. That was annoying. This is going to be much easier. Little guys aren't going to leave Etsy because of this. This is how all selling platforms work. Amazon takes the fees out first and so does Shopify and Paypal.

  31. I wonder when this will be effective cause I sure haven't got it like that yet

  32. I like the pay as you go. Definitely helps me to see how much I am really earning each month.

  33. I really like how we can see everything all at once, but a lot of people are complaining that we will no longer have the option to manually pay our bill. Is this true?

  34. I loved this option. It was a big headache to follow the threshold. When will this be active?

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