Bookkeeping Basics for Etsy Entrepreneurs: Maximizing Benefits with QuickBooks and Etsy Plus
As an Etsy entrepreneur, managing your financials effectively is crucial. QuickBooks offers specialized solutions to streamline this process, with two popular options being QuickBooks Self-Employed and QuickBooks Online. Additionally, Etsy Plus provides an enticing incentive for its members in the form of a discounted rate on QuickBooks Self-Employed.
QuickBooks Self-Employed: A Tailored Solution for Etsy Sellers
QuickBooks Self-Employed is specifically designed for freelancers, sole proprietors, and independent contractors, making it an ideal choice for many Etsy shop owners. Key features include:
Easy Expense Tracking: Automatically categorize business expenses.
Mileage Tracking: For those who travel for business-related activities.
Efficient Invoicing: Create and send invoices with ease.
Tax Calculations: Estimate quarterly taxes and keep track of deductions.
Etsy Plus enhances this offer by providing a discounted rate for its members. For the first 12 months, QuickBooks Self-Employed is available at $5 per month, and the QuickBooks Self-Employed TurboTax Bundle is available at $12 per month. This integration allows Etsy sellers to directly export their sales and expenses into QuickBooks Self-Employed, simplifying the bookkeeping process significantly.
QuickBooks Online: A Comprehensive Tool for Growing Businesses
For Etsy entrepreneurs looking to expand their business, QuickBooks Online offers a more comprehensive suite of features. It's suitable for larger operations or those with more complex accounting needs. Key benefits include:
Multi-user Access: Ideal for businesses with a team.
Advanced Reporting: For deeper financial insights.
Inventory Management: Essential for larger Etsy stores.
Payroll Integration: Directly manage payroll if you have employees.
We offer a referral code that provides a 50% discount for the first six months of QuickBooks Online, making this advanced service more accessible for growing Etsy businesses. Get it here.
Etsy Plus: Discounted QuickBooks Self-Employed for Members
Etsy Plus members can take advantage of a special offer on QuickBooks Self-Employed. This program integrates seamlessly with Etsy, allowing sellers to efficiently manage their finances, categorize transactions, and streamline their tax preparation. The integration also supports data from other platforms like Square and PayPal, ensuring comprehensive financial tracking.
Making the Right Choice
Choosing between QuickBooks Self-Employed and QuickBooks Online will depend on your specific business needs, size, and growth plans. QuickBooks Self-Employed is more suited for individual entrepreneurs or smaller shops, while QuickBooks Online caters to businesses with more complex requirements or larger teams.
Conclusion
Effective bookkeeping is vital for the success of your Etsy shop. With QuickBooks' solutions and the special offers available through Etsy Plus and Freestyle Travel Shop, you can choose a system that best fits your business needs. Whether you're just starting or looking to grow your Etsy shop, leveraging these tools can significantly ease the process of managing your finances.
Hey, I’m Nicole!
Following my successful national park-themed Etsy shop, I'm using social media to share my journey and everything I know, inspiring and empowering fellow crafters and small business owners.
