Connect your Etsy store to accounting company
In this guide, you will learn how to connect your QuickBooks Online company to Etsy account via Synder. Once you finish your settings, the software will start receiving your Etsy transactions and import data with all necessary details in QuickBooks.
With Synder, you are able to make Etsy QuickBooks integration and synchronize your Etsy transactions (sales, fees, refunds) to a QuickBooks/Xero accounting company for one-click reconciliation and detailed Profit and Loss reports. Follow easy steps in this helpful guide, and enjoy seamless QuickBooks Etsy synchronization.
If you don’t have any accounting company connected, you will need to connect it first:
- click on the ‘Plus’ sign button in the upper-right corner → ‘Add QuickBooks/Xero company’;
- select the company that you’d like to connect.
You will be taken to the connection dialog to grant permission for Synder to access your Etsy accounting company and then back to Synder.
How to add a payment platform?
Now you are ready to connect Etsy to Synder:
- click on the ‘Plus’ sign button in the upper-right corner;
- press the ‘Add Payment Platform’ button;
- select ‘Etsy’ from the dropdown → click ‘Connect’.
You will be redirected to the page to grant the permission to access your data. Click the ‘Allow Access’ button to grant the permission.
One-click data flow setup
Once an Etsy account is connected the only thing left to do is your Synder settings to adjust how the data will be transferred into your accounting company. A popup window with standard settings that are used by most of our users appears.
You may feel free to change the settings at this stage as you wish and don’t worry – you’ll be able to change them at any time later.
You can use standard configuration and press “I’m ok to start” and you will be redirected to the tab with transactions available for synchronization. Synder will automatically import ten of your most recent transactions from the Etsy app and sync one to show you how it works.
Alternatively you can click “Go step-by-step” to go through detailed settings.
You have successfully connected the Etsy app to Synder. Your account is set and ready to synchronize your Etsy transactions to QuickBooks Online. You will now see the list of the 10 most recent Etsy transactions from your account in the ‘Transactions’tab in Synder. Select them in bulk and click ‘Sync’– that’s all you have left to do.
Important things for standard settings setup
Let’s have a look at the most important things to know from the standard settings setup:
- ‘Etsy Bank account’ is a ‘clearing account’ that QuickBooks sales receipts, refund receipts and payments will be deposited into. It would be auto-created by default during connection of Synder in the ‘Chart of Accounts’ in your QBO. It must be the same as for ‘Etsy Fees’ and ‘Etsy Expenses’ tabs as well.
- Synder reflects the flow of money in the real world. Once you receive payments from clients, it first goes to your Etsy account and accumulates there, and then at the end of the day, Etsy transfers money to your real bank account. Synder uses a ‘clearing account’ (which plays the role of real Etsy in your accounting) to deposit all the sales and fees and then once the payout is synced Synder will create a ‘Transfer’ from your ‘Etsy bank account’ to your ‘Checking’ for quick reconciliation. For more info check out the detailed reconciliation settings guide.
- If you have the ‘Synchronize automatically ongoing transactions’ feature switched ‘ON’ in your settings – from that moment all your new transactions will be synced automatically without prior confirmation.
- ‘Apply taxes’ feature – Synder transfers over existing taxes into QuickBooks/Xero respective fields (everything will be correct in tax reporting). However, if there is no tax on the payment processor side, there is nothing to transfer over and we will not generally apply taxes to synced transactions.
- If the ‘Process payouts’ feature is ‘ON’, the software will synchronize payouts. If ‘OFF’, it will not. Payouts synchronization is needed for automated reconciliation of the synced data.