Hi,
I am using Quickfile for my Etsy business and have an Etsy bank account that I use to mirror my Etsy shop account.
My question relates to Etsy sales tax, which is something that Etsy collects and pays on some International orders. I don’t need to pay the tax but it does come off my bottom line. What I need is a way to record such transactions in order to keep the Quickfile Etsy bank account in check and correctly account for it. Should I just deduct the tax amount from the relevant purchase orders or is there a better way ?
Regards,
Jeff
Hello @QuickfileEtsy
My question relates to Etsy sales tax
Does Etsy invoice your for this?
If so you can create a purchase invoice for this and pay it using the Etsy bank account
Unfortunately not for sales tax, only fees are invoiced, hence the problem. They just deduct the amount from my Etsy account. I must admit its something I hadn’t noticed but I now know why I couldn’t get my QF Etsy account to tally.
Hello @QuickfileEtsy
You could create a new nominal account for it and create a transaction manually then tag it directly to the code.
I would recommend checking with an accountant just to be sure.