How Do I Reconcile My Etsy Deposits?
Recently I was working with an Etsy seller who claimed she was owed $20,000 by Etsy.
That is a lot of money.
She decided she needed some outside help to reconcile her Etsy deposits to her actual bank account because her “Etsy Deposits don’t match actual bank deposits”, she could not reconcile between the two, kind of a big deal I would say.
So, in this blog today I want to clear this up for you so that you can see how Etsy actually deposits the money into your bank account so you can do your Etsy taxes and Etsy bookkeeping a little easier.
Let’s first start with the actual process of how Etsy deposits the money and then we can work through this using a real easy example with visuals and everything…
Here is how it normally works…
You make a sale (yay!)
Let’s say the sale is for $10
Etsy takes it’s cut of 5% per sale or $.50 (not yay!)
That leaves you with $9.50 of money that SHOULD be deposited...