I noticed that my monthly income for January was unusually high according to QB. Meaning, things like sales and bank transfers were listed twice. For some QB self-employed users, there was a known glitch for the month of Jan 2020, where transactions imported directly from your linked Etsy account were duplicated. I just thought I'd let others know that there is a second QB issue that I've recently become aware of. It's shameful that Etsy had a known error to their API for this many months, and none of their executives had the guts to send a personal email to all the affected shop owners, or post a huge announcement on the page where Etsy lists all of their known website problems. I don't know if the fix was automatic and retroactive to the date that the problem started. But you will still have to talk to QuickBooks if you use them to find out how to apply whatever bug patch they came up with. I no longer trust Etsy to handle finances correctly, nor do I trust them to be responsible enough to own up to their mistakes by notifying shop owners when errors occur on such a massive scale.Ībout a week ago, GoDaddy told me that the faulty API was now fixed, so maybe that means it's okay over at QuickBooks too. So if you haven't already looked at the fee categories other than state sales taxes, please review them for errors caused by Etsy's faulty API. GoDaddy never told me, and I have no idea whether QuickBooks said anything to their clients because I don't use them. Alternatively, you might have learned about it if you saw people complaining about it right here in the Etsy forum, or if your online bookkeeping provider had the courtesy of telling you after they realized it was a large-scale bug. You would have learned about this only if you studied your CSV closely every month and compared it line by line with what you saw in your computerized bookkeeping to make sure every penny was accounted for. never had the courtesy to warn shop owners about this nine-month disaster so that shop owners could start making manual corrections every month until the bug could be fixed. In May of 2019, Etsy's API (the data "feed" that is used by QuickBooks, GoDaddy, and other online bookkeeping systems) STOPPED SENDING INFO ON TRANSACTION FEES, SHIPPING TRANSACTION FEES, AND ANY ASSOCIATED REFUNDS TO THOSE FEES. I hope it doesn't seem totally off topic, but there is one other huge problem with online bookkeeping if you own an Etsy shop, and I want to mention it here in case some of you haven't heard about it. I use GoDaddy, which has the same issue with sales tax not always making sense and requiring some manual corrections. The idea of having to go over all of my sales for the year is about to make my head explode. If anyone knows of a simple way to find out all of the sales tax that Etsy collected from your sales, please let me know. IN this case, you can create a "big" transaction with all the sales tax amount." Categorize the transaction from your bank as Business. After you make sales tax payments and your bank processes them, come back QuickBooks Self-Employed. Use the sales tax totals on Etsy to calculate your sales tax payments. However, it won't show up as a separate transaction in QuickBooks Self-Employed. "On Etsy, you can see the sales tax you collect. This is a copy of what I was just told while "chatting" with QB: " If I was able to find that information, the QB consultant said that I could just make a single "bulk" entry at the end of the year for all the sales tax that had been collected so it is not considered as part of my yearly income. I cannot figure out an easy way to find a total of all the sales tax collected for the year. It would have been lovely if we knew this all along. We have to go in after every transaction and manually enter the sales tax amount. It is! This morning, I contacted QB and it was explained to me that QB simply does not take sales tax collected and remitted by Etsy into account. After seeing your post about this last night, I went into my QB Self-Employed account to see if this is indeed happening to me as well.
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