{"id":2397,"date":"2021-04-08T18:10:29","date_gmt":"2021-04-08T17:10:29","guid":{"rendered":"https:\/\/kirkwoodwilson.co.uk\/?p=2397"},"modified":"2021-04-08T18:10:29","modified_gmt":"2021-04-08T17:10:29","slug":"the-importance-of-bookkeeping-when-selling-on-etsy","status":"publish","type":"post","link":"https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/","title":{"rendered":"The importance of bookkeeping when selling on Etsy"},"content":{"rendered":"\n

During the past year, the percentage of retail sold through ecommerce platforms like Etsy rose from less than 20% to well over 35%. In the course of a single year that\u2019s a phenomenal change, and it\u2019s thanks to the entrepreneurial, open-minded makers and crafters who were able to take up that challenge and move their goods online during the toughest of conditions that we have been able to continue to send beautiful gifts and treat one another even in the hardest of times. <\/em><\/p>\n\n\n\n

However, along with the creative side of doing business online<\/a> comes an aspect that some of us are less keen on \u2013 accounting. It will do you no favours to simply stick your head in the sand when it comes to bookkeeping, so we take a look at the importance of bookkeeping for Etsy sellers, what support is available, and what you can expect from an Etsy accountant.<\/em><\/p>\n\n\n\n

Why is bookkeeping for Etsy sellers so important?<\/h2>\n\n\n\n

Bookkeeping for any business, large or small, ecommerce<\/a> or face-to-face, is important because it allows you to keep track of day-to-day financial transactions like sales and purchases. However, what sets apart the kind of business done over ecommerce platforms<\/a> like Etsy is the speed at which these processes take place; goods are bought and shipped in a matter of hours in many cases, with purchases then immediately made to maintain stock levels. Below are just some of the reasons why bookkeeping is so important for Etsy sellers:<\/p>\n\n\n\n

Keep track of income and outgoings<\/h3>\n\n\n\n

In order to understand what money you are making and spending and to keep a control on that expenditure day-to-day, you need to ensure that you are keeping track of those movements. Software such as Xero<\/a> is designed specifically with bookkeeping for Etsy sellers and other ecommerce platforms<\/a> in mind; it integrates directly with ecommerce stores so that the tracking of finances is smooth and automated, and you can access that information at any time and from anywhere via an app.\u00a0<\/p>\n\n\n\n

Manage cash flow<\/h3>\n\n\n\n

As a small business, cash flow is equally as important as \u2013 if not more important than \u2013 profit. Whilst one of the key reasons for being in business is profitability in the long-term, if your cash-flow doesn\u2019t enable you to pay your suppliers or workers, you won\u2019t stay in business very long. Bookkeeping allows you to keep control over your cash flow, make sure that you are receiving money when you expect to, purchase stock only as you need it and pay your suppliers at a time that gives you the best chance of success.<\/p>\n\n\n\n

Analyse successes and capitalise on them<\/h3>\n\n\n\n

Bookkeeping, for Etsy sellers just like all other small businesses, helps to inform you of what is going right and where you could improve. If you track when you sell goods, how much profit you make and from which product lines into which market areas, you can start to track what works for your business and what you should do more of. If you choose to work with a management accountant, Etsy, combined with the information from your cloud accountancy package, will provide them with all the data they need to be able to analyse which areas to invest in, expand on and promote, as well as enable you to forward plan for the future. <\/p>\n\n\n\n

If you are looking for an Etsy accountant who can support you in growing and managing your business, Kirkwood-Wilson Accountants are experienced in bookkeeping for Etsy sellers; we are Xero Gold Partners and can support you in the set-up and installation of a cloud accountancy tool as well as providing you with accountancy services to fit your needs longer term. <\/p>\n\n\n\n

If you want to feel like you are in control of your business but with the support of an experienced Etsy accountant, get in touch with us for a chat about your business on 01704 546 000 or email enquiries@kirkwoodwilson.co.uk<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

During the past year, the percentage of retail sold through ecommerce platforms like Etsy rose from less than…<\/p>\n","protected":false},"author":2,"featured_media":2400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[21,22,11,10,19],"tags":[30,31,32],"acf":[],"yoast_head":"\nTo learn why bookkeeping for Etsy sellers is so important, read our latest blog<\/title>\n<meta name=\"description\" content=\"Etsy accountants are experienced in working with small, creative, online businesses to support them in whichever areas are needed. If you are wondering what advice & support is available, check out our latest blog where we explore the benefits of bookkeeping for Etsy sellers in more detail.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"To learn why bookkeeping for Etsy sellers is so important, read our latest blog\" \/>\n<meta property=\"og:description\" content=\"Etsy accountants are experienced in working with small, creative, online businesses to support them in whichever areas are needed. If you are wondering what advice & support is available, check out our latest blog where we explore the benefits of bookkeeping for Etsy sellers in more detail.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/\" \/>\n<meta property=\"og:site_name\" content=\"Kirkwood\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/KirkwoodWilson\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-08T17:10:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kirkwoodwilson.co.uk\/wp-content\/uploads\/accounting-and-booking-services.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"780\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"sitemanager\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@KirkwoodWilson\" \/>\n<meta name=\"twitter:site\" content=\"@KirkwoodWilson\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"sitemanager\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/\",\"url\":\"https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/\",\"name\":\"To learn why bookkeeping for Etsy sellers is so important, read our latest blog\",\"isPartOf\":{\"@id\":\"https:\/\/kirkwoodwilson.co.uk\/#website\"},\"datePublished\":\"2021-04-08T17:10:29+00:00\",\"dateModified\":\"2021-04-08T17:10:29+00:00\",\"author\":{\"@id\":\"https:\/\/kirkwoodwilson.co.uk\/#\/schema\/person\/3c46162b8aa1979fd392d1e0efc3c9d8\"},\"description\":\"Etsy accountants are experienced in working with small, creative, online businesses to support them in whichever areas are needed. If you are wondering what advice & support is available, check out our latest blog where we explore the benefits of bookkeeping for Etsy sellers in more detail.\",\"breadcrumb\":{\"@id\":\"https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/kirkwoodwilson.co.uk\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The importance of bookkeeping when selling on Etsy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/kirkwoodwilson.co.uk\/#website\",\"url\":\"https:\/\/kirkwoodwilson.co.uk\/\",\"name\":\"Kirkwood Wilson Accountants\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/kirkwoodwilson.co.uk\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/kirkwoodwilson.co.uk\/#\/schema\/person\/3c46162b8aa1979fd392d1e0efc3c9d8\",\"name\":\"sitemanager\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/kirkwoodwilson.co.uk\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/94fd25b172ec00e9901fa3adf88417df?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/94fd25b172ec00e9901fa3adf88417df?s=96&d=mm&r=g\",\"caption\":\"sitemanager\"},\"url\":\"https:\/\/kirkwoodwilson.co.uk\/author\/sitemanager\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"To learn why bookkeeping for Etsy sellers is so important, read our latest blog","description":"Etsy accountants are experienced in working with small, creative, online businesses to support them in whichever areas are needed. If you are wondering what advice & support is available, check out our latest blog where we explore the benefits of bookkeeping for Etsy sellers in more detail.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/","og_locale":"en_GB","og_type":"article","og_title":"To learn why bookkeeping for Etsy sellers is so important, read our latest blog","og_description":"Etsy accountants are experienced in working with small, creative, online businesses to support them in whichever areas are needed. If you are wondering what advice & support is available, check out our latest blog where we explore the benefits of bookkeeping for Etsy sellers in more detail.","og_url":"https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/","og_site_name":"Kirkwood","article_publisher":"https:\/\/www.facebook.com\/KirkwoodWilson","article_published_time":"2021-04-08T17:10:29+00:00","og_image":[{"width":1920,"height":780,"url":"https:\/\/kirkwoodwilson.co.uk\/wp-content\/uploads\/accounting-and-booking-services.jpeg","type":"image\/jpeg"}],"author":"sitemanager","twitter_card":"summary_large_image","twitter_creator":"@KirkwoodWilson","twitter_site":"@KirkwoodWilson","twitter_misc":{"Written by":"sitemanager","Estimated reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/","url":"https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/","name":"To learn why bookkeeping for Etsy sellers is so important, read our latest blog","isPartOf":{"@id":"https:\/\/kirkwoodwilson.co.uk\/#website"},"datePublished":"2021-04-08T17:10:29+00:00","dateModified":"2021-04-08T17:10:29+00:00","author":{"@id":"https:\/\/kirkwoodwilson.co.uk\/#\/schema\/person\/3c46162b8aa1979fd392d1e0efc3c9d8"},"description":"Etsy accountants are experienced in working with small, creative, online businesses to support them in whichever areas are needed. If you are wondering what advice & support is available, check out our latest blog where we explore the benefits of bookkeeping for Etsy sellers in more detail.","breadcrumb":{"@id":"https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/kirkwoodwilson.co.uk\/the-importance-of-bookkeeping-when-selling-on-etsy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/kirkwoodwilson.co.uk\/"},{"@type":"ListItem","position":2,"name":"The importance of bookkeeping when selling on Etsy"}]},{"@type":"WebSite","@id":"https:\/\/kirkwoodwilson.co.uk\/#website","url":"https:\/\/kirkwoodwilson.co.uk\/","name":"Kirkwood Wilson Accountants","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/kirkwoodwilson.co.uk\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/kirkwoodwilson.co.uk\/#\/schema\/person\/3c46162b8aa1979fd392d1e0efc3c9d8","name":"sitemanager","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/kirkwoodwilson.co.uk\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/94fd25b172ec00e9901fa3adf88417df?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/94fd25b172ec00e9901fa3adf88417df?s=96&d=mm&r=g","caption":"sitemanager"},"url":"https:\/\/kirkwoodwilson.co.uk\/author\/sitemanager\/"}]}},"_links":{"self":[{"href":"https:\/\/kirkwoodwilson.co.uk\/wp-json\/wp\/v2\/posts\/2397"}],"collection":[{"href":"https:\/\/kirkwoodwilson.co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kirkwoodwilson.co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kirkwoodwilson.co.uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/kirkwoodwilson.co.uk\/wp-json\/wp\/v2\/comments?post=2397"}],"version-history":[{"count":0,"href":"https:\/\/kirkwoodwilson.co.uk\/wp-json\/wp\/v2\/posts\/2397\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kirkwoodwilson.co.uk\/wp-json\/wp\/v2\/media\/2400"}],"wp:attachment":[{"href":"https:\/\/kirkwoodwilson.co.uk\/wp-json\/wp\/v2\/media?parent=2397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kirkwoodwilson.co.uk\/wp-json\/wp\/v2\/categories?post=2397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kirkwoodwilson.co.uk\/wp-json\/wp\/v2\/tags?post=2397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}