Sunday, January 13, 2013

Etsy and Taxes: Direct Checkout Fees

It's tax time again and this year, Etsy sellers have a new set of fees to calculate for expense deductions: direct checkout fees for those who have that payment method enabled. Etsy does not make it very easy to figure out your total for fees, though, so I wrote up this quick tutorial, which I hope will be helpful to everyone!

1. Go to Your Shop > Options > Download Data > Orders (csv type). Be sure to leave the month unselected and just choose the year if you want your yearly total.

2. Once you download the file for 2012, open in Excel and find the column named "Card Processing Fees" (column W). 

3. Use the sum function to total up the column and you should have your yearly DC fee total! The formula in Excel is =SUM(W2:W***). *** should be the very last row number at the end of your spreadsheet, which will vary for everyone depending on how many sales you had. 

P.S. If you do not have Microsoft Excel available to you, OpenOffice and GoogleDocs are great alternatives for viewing CSV and XLS files!

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