October 20, 2019
QuickBooks Online Simple Start is my favorite accounting program. When you first begin using QuickBooks, you will find that the default chart of accounts may not meet your needs as an Etsy shop owner. Before you hit the ground running with your bookkeeping, take a few minutes in QuickBooks to customize your Etsy shop bookkeeping chart of accounts. This is an important step, and it's so easy to do! I'll even give you a chart of accounts file that you can upload into QuickBooks and have your custom chart of accounts up and running in an instant!
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The chart of accounts influences how your financial statements look. The accounts in the chart of accounts are the same accounts you will use when you categorize transactions in the bank feed. Your categorization of transactions is what then produces your Profit & Loss. To make your Profit & Loss more relevant and easy to read, you need to take the time to set up our chart of accounts when you first sign up for QuickBooks. The video below will walk you through exactly what to do.
To make this process easier for you, I've created a FREE .csv file that you can download to help you customize your chart of accounts for your Etsy shop. Just click the button below and enter your name and email address, and the form will be sent to you.
Interested in learning the easiest way to record your Etsy sales and fees in QuickBooks each month? I call it the Etsy Bank Method. Here's the link to that video.
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