Need a way to keep track of income and expenses for tax time? Etsy is now integrated with Intuit QuickBooks Self-Employed and it has partnered with the company to offer discounts to sellers who want to subscribe to the service.
Etsy CEO Chad Dickerson made the announcement on Thursday morning during a keynote address to sellers gathered at the inaugural Etsy Up conference. As a nice touch, Intuit had a booth set up at the conference and had sourced all of the furniture and decor from sellers on the Etsy marketplace. Dickerson said Intuit also planned to raffle off the items to attendees at the end of the conference.
The Etsy partnership with Intuit is designed to help simplify accounting and tax prep for sellers. The financial arrangement between the two companies was not disclosed.
Sellers who sign up for the service will be able to import their Etsy data into the program – along with data from Square, PayPal, bank, and credit card accounts – to easily track income and expenses with no data entry required. QuickBooks Self-Employed will provide instant insights into cash flow, the companies explained. And expenses such as mileage, phone bill and supplies are auto-categorized into the right IRS Schedule C deductions.
Sellers in the US and UK qualify to receive the discounted QuickBooks service: “For the first 12 months, QuickBooks Self-Employed is available at $5 per month, and QuickBooks Self-Employed TurboTax Bundle is available at $12 per month.”
You can learn more on the Etsy Seller Handbook.