Why Quickbooks Self Employed may not be the best option for your Etsy store…
Quickbooks Self Employed can be a handy piece of software for small businesses, but it's just not designed with the unique needs of Etsy sellers in mind. Crafters are manufacturers, and manufacturers need a complete different set of features for their bookkeeping needs - income and expense tracking unfortunately just isn't enough.
Craftybase has been working with thousands of Etsy sellers just like you over the last 8 years creating and refining the perfect set of features that handmade sellers need in a bookkeeping system. For one thing, we focus on inventory tracking: this is one of the most important things a small manufacturing business needs to be on top of and is often the most neglected and poorly managed. Whilst simple cashflow systems like Quickbooks Self Employed can be helpful to see your incomings and outgoings, it's not so useful at tax time for a handmade business. Your Annual Schedule C filing needs detailed inventory valuation information in order to complete it accurately to satisfy IRS requirements so unless you upgrade to the more expensive and complicated Manufacturing version of their accounting package then you'll need to find another way of tracking your manufacturing and inventory costs on top of paying for Quickbooks Self Employed.
Craftybase contains all of the features you need in one tidy, cost effective package. Like Etsy QB Self-employed, we automatically import all your fees and sales and categorise them for you to make it super easy come tax time.
|Windows / Mac Compatible||✔||✔|
|Expense Tracking - Indirect||✔||✔|
|Product Tracking - Direct||✔||✘|
|Vendor and Customer Lists||✔||✘|
|Material Inventory Tracking||✔||✘|
|Tax Worksheets inc. Schedule C||✔||✔|
|Importing from Etsy||✔||✔|
|Inventory Valuations & COGS||✔||✘|
|Bill of Materials (BoM)||✔||✘|