Description

Etsy reconciliation service includes:

• Verifying that your Etsy 1099K is correct – Matching 1099K/Etsy Taxpayer ID screen to your Etsy Payment Sales CSV and your Etsy Orders CSV
• Recording any differences in the above documents for your notes (so you understand why they are different!)
• Compiling total gross sales (for tax purposes) based on the above documents (ideally to compare to your bookkeeping records)
• Compiling the following deductions for tax purposes based on the above documents, along with the Etsy Statement CSV (payment fees reports)
  • Refunds/cancelled orders
  • Credit card processing fees
  • Etsy transaction fees (commission)
  • Etsy listing fees
  • Shipping expense/postage labels
  • Etsy promoted listing fees
  • Any other fees showing up on the Etsy Statement CSV

Final documentation will be provided to you in the form of a spreadsheet file with a summary tab. The summary tab will use formulas to reference all the relevant CSV files – this way you have proper documentation of how these numbers were calculated to assist you and your tax preparer. This documentation will also help you substantiate your tax amounts in case of an audit.

Customer will be expected to provide the following in a timely manner in order for these services to be provided:

• Etsy Orders CSV for the year
• Etsy Payment Sales CSV for the year
• Copy or screenshot of your 1099K or Taxpayer ID screen
• 12 months of Etsy Statements CSVs

Please note that I will not be liable in case of any reporting errors on Etsy’s behalf – ie, if the CSV files themselves that are provided by Etsy have errors. We are all working under the assumption that Etsy’s CSV files are fully accurate.