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lesliemarie9
February 19, 2023
Question

Etsy app created a products category under income & has taken all my Etsy listings & counted them as actual income. How can I undo this? All reports are inaccurate now.

  • February 19, 2023
  • 1 reply
  • 0 views
I used the QB/Etsy integration with Sync. I cannot make the category inactive as Etsy created it and uses it. Why would listings be counted as income?? I cannot pull accurate P&L's because my income is inflated to over twice what it's supposed to be. I can't even seem to create a report to not count this specific "income". There has to be a way or this is a waste of a subscription and nothing more than a receipt organizer.

1 reply

G
GlinetteC
February 19, 2023

I can help you fix this Etsy transactions concern, lesliemarie9.

 

When Sync with Etsy connects to QuickBooks, it adds accounts, services, and the names of your customers and vendors to your business. For the program to accurately import your Etsy transactions, we advise that you leave these products exactly as they are.

 

You can make changes if it's your first import. New transfers are automatically created when the Sync with Etsy app imports new transactions, matching deposits or charges to your bank or credit card account. This helps avoid double-counting transactions and overstating your revenue or expenses. 

 

If not, Undo them on the Categorized tab and check to see if the downloaded banking deposit matches the deposit coming from Etsy. 

 

  1. Go to Banking and select the bank feed for your Etsy deposits.
  2. Select the Categorized tab and search for “Etsy” to find the deposits you added to Sales of Product Income.
  3. In the Action column, select Undo for each deposit. 
  4. Choose the For review tab and search for “Etsy” to find them again.
  5. For each transaction, select the “Sales of Product Income” category and change it to “Etsy.

 

To learn more about the process, check this article: Make adjustments when you import past etsy transactions in QBO.

 

For extra help and reference, you can read import transactions from the Etsy shop into QuickBooks Online.

 

If you need more help with any of your other tasks. I'll be here to assist you.

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