4.29.2013

Etsy Shop Help: Bookkeeping Spreadsheets for Your Handmade Business

etsy sales spreadsheet seller tools craft business small bookkeeping accounting
Etsy Seller Spreadsheet

Four years ago I wrote a blog post about pricing jewelry and using excel spreadsheets to track your sales on Etsy. I've grown a lot and changed some things since 2009, so I thought I would share where I'm at now and provide whatever tools I have in my possession.

Hint Jewelry on Etsy is pretty low tech when it comes to bookkeeping. I've tried other software tools and ways of keeping track of inventory, wholesale orders, and expenses, but honestly my business is so small I found it's not worth my investment.

I now do all my bookkeeping on Excel. Below are all my spreadsheet templates you can download and adapt for your own craft business:

Etsy Retail Sales

Click here to download the Etsy Seller Spreadsheet

Click here to download the Etsy Shop Inventory Spreadsheet

I copy items from my inventory sheet over to the seller spreadsheet when a purchase is complete. Then I manually reduce the number of in stock items in the inventory spreadsheet, so I can keep track of what is available.

Wholesale

Click here to download the Craft Business Wholesale Spreadsheet

This spreadsheet keeps track of sales, provides cost sheets for seller and buyer, and has a tool for calculating wholesale pricing.

Business Expenses

Click here to download an Etsy Business Expenses Spreadsheet

All the tabs on this spreadsheet correspond to categories of information you will need to track for filing business taxes. Included is a tab that will help you keep track of the value of your inventory and cost of goods sold.

Sales Tax

To keep track of sales tax retail business done in my home state, each month I download and print a CSV file of Hint Jewelry orders on Etsy. This can be accomplished by going to:

  1. Etsy Sold Orders page
  2. Scroll down to the bottom of the page
  3. Click on the blue link "Download a CSV file"
  4. From the drop-down menu "CSV-Type" select "Orders"
  5. Select previous month and current year
  6. Click the Download CSV blue button
  7. Save the Excel file to your computer

Taxes

To file my taxes I use the software TurboTax. Usually in January you can download this software for a reduced price through Amazon.com. For more information on filing taxes, check out an earlier blog post Taxes for Artists.

23 comments:

  1. Hi Beth;
    I am not an etsy shop owner, though I definitely shop on etsy!! I do not have a blog, but there are some blogs I love to read - yours being one. Several times I have felt compelled to thank you for your incredible generosity. You take the time to share ideas, thoughts, tutorials you create and find, books you write, wisdom from your experience, recipes and much, much more. You gift all of us with so much ... and I just wanted to say "THANK YOU"!!!

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    1. Hi Teri! You are too sweet :) Thanks so much for sharing your appreciation for my blog and the things I've shared. You have no idea how much you've made my day! It's these little moments of connection that keep me fuel to keep on doing what I'm doing over here. Blessings to you and the generosity of your heart for reaching out to lift my spirits today. xoxo Beth

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  2. Question: New shop ... small amount of inventory ... hobby

    Keeping Etsy spreadsheet simple ... not itemizing every single item ... (have printed details from Etsy's CRV file for records) ...

    Putting in 3 columns

    *Monthly expenses column ... Receipts for items bought, Etsy Fees and Pay Pal fees

    *Monthly Deposits column ... deposits from Pay Pal and Etsy

    *Profit ... subtracting expenses from deposits


    Does it need to be more complicated than that for me for tax purposes? Plan to do this monthly ...

    Would appreciate feedback on this idea. This is my first month ...

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    1. I'm not completely sure. You might want to check with a tax accountant on the difference between your Etsy shop run as a hobby or business. I seem to recall there being a difference. One of the difficulties of running a business is keeping track of Cost of Goods Sold. This is why I itemize every item I sell because it includes the material cost. On my taxes I have to report my beginning and ending inventory for the year and I can only do this if I keep track of how much each item costs me in material and when it leaves inventory. Etsy spreadsheets don't include this information. Also, the spreadsheets I offered give you the sections of expenses that you need to keep track of to input on your tax forms. Lumping all expenses together would be kind of confusing, but maybe you won't have many. Here's another post I did on taxes for artists: http://hintjewelry.blogspot.com/2010/02/behind-scenes-taxes-for-artists.html

      It shows you everything I keep track of when I'm entering my Etsy business information on my tax form. I think the best thing to do is find out if you are running a business as a hobby and if that would be entered differently on your taxes. I'd speak with an accountant.

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  3. Haven't opened the files yet, but am ready to say thank you! I was looking to see if any software would do enough to be worth the cost over using Excel, and as a fledgling seller and couldn't find anything that would be worth the investment. On the other hand, starting with your templates will be very helpful, even if I choose to modify them. I'm trying to get all my "ducks in a row" before posting items for sale. It's more of an effort than I was planning on.
    I really appreciate your willingness to share with other artists and crafts people!
    Thank you,
    Pati

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    1. I'm so glad I could help Patti! If you don't sell an enormous amount of work there really is no sense in investing in software, which is what I figured out after spending the money for a couple of years. I think the Excel spreadsheets help you explore the beginning of being a seller and then you can grow from there. Best of luck!! xoxo Beth

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  4. Beth,
    Thanks for this information. I am also just getting started. Got the business registered, opened a wave account and downloaded a couple of the spreadsheets you provided. I have one issue and it's silly... not sure how to get the totals to auto sum.... I can highlight a column and have the totals sum on the specific page, but how do you get it to keep a running tally automatically?? Thanks in advance for your time! I am an amateur!

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    1. Hi Charlotte, I'm not sure I understand your question. Can you email me at hintjewelry@gmail.com with the name of the spreadsheet you are referring to and which column totals that aren't summing automatically? Thanks!
      Beth

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  5. Hi Beth, I just wanted to take a moment & let you know that I admire you already. I found you on a Google search, looking for info about COGS. We also have a home business. Not on Etsy, but I have been looking for samples of a simple spreadsheet to track our purchases / sales. There are documents for sale, but you offer your experience & knowledge as a gift to help others that are struggling. I have already bookmarked you to my toolbar for quick access & subscribed to your blog. Thank you for being willing to share. I look forward to spending more time learning from your wisdom. Thank you! Judy (And I am not familiar with the details of "profile", so I selected "anonymous" as the option. I understand that. =)

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    1. Hi Judy! Thanks so much for your kind words and reaching out! I'm glad I could help and share what I know with you. Best of luck organizing your business!! xoxo Beth

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  6. Hi Beth,
    I've just found your blog and this information is so helpful, thanks. I am wondering if you are still using the jewelry price calculator that you mentioned in your 2009 blog post? Thanks for your time.

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    1. I know longer use this price calculator because I have a better understanding of how pricing and material costs work. Now I can pretty much figure it out in my head, but in the beginning this was very useful.

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  7. I am just starting my etsy shop this year and I already want to thank you so much for the time and effort you put into these spreadsheets and thank you so much for your generosity in sharing them. These will help me so much. I had already become overwhelmed with the idea of bookkeeping in general but with your help I have the building blocks I need to sell items, keep track of where money goes and have a handle on taxes (oh my gosh the taxes!) have I thanked you? I will do it again anyway. Thank you! Thank you!! Thank you!!!

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    1. You are so welcome! Glad to be of help. Best of luck with your new Etsy business!! Beth

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  8. This was incredibly helpful. Thank you so much. I will definitely be passing the info on to other small business!

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  9. Hello, These are very helpful but I was wondering if you could help me add a column for actual shipping cost, because mine seems to very and I don't actual I just charge $5, so sometimes I loose money and so it would be nice to keep track of this but I can't figure out how to make this column subtract from the profit.

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    1. Sure, maybe I can do this. Send an email to hintjewelry@gmail.com so I can send the spreadsheet to you directly if I can figure it out. Thanks!

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  10. In the inventory spreadsheet, why does S&H get included into the ending profit? Wouldn't that be part of the expense?

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    1. On my tax return I claim shipping costs as an expense, but initially it's part of the profit. When you do your taxes it will make sense how you account for material costs, cost of the items and shipping expense. I don't think I actually use the total profit on my taxes. It just tells me how much money I received and acts as a check and balance with the total that Etsy calculates for me.

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  11. Thank you so much for sharing! I'm a total excel noob and I'm about to start my own small business! Thanks again!

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  12. Thank you for sharing your spreedsheets. I am trying to get a craft/quilt business going & have been searching for resources to help me with the bookkeeping/inventory/tax info. The spreadsheets you're sharing is just what I was looking for. Thank you again for your generosity.

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    1. You're welcome! Thanks for your kind words!

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I'd love for you to share your ideas and stories on my blog! Please know that I may not always be able to e-mail you a direct response, so be sure to check back to my blog and continue the dialogue. Many blessings for connecting with me through word and image :)