Etsy updates payment reports for sellers! Help boost sales in 2022!

It is learned that according to foreign media reports, Etsy recently updated the payment report for sellers to make it easier for sellers to understand the financial status of their accounts, namely information on sales, expenses and profit margins.

Etsy said the two most important changes to seller payment accounts are:

• Financial Summary: Sellers can now view their financial status through refunds, total sales and taxes collected. Refunds, credits, processing fees and sales taxes are listed separately.

• Added "tooltips" and descriptions so sellers can understand the reason and amount of the fee.

Additionally, Etsy’s “Activity Summary” section will now have four sections, including sales, fees, marketing, and shipping. And sellers’ sales tax and VAT will appear in each section.

It is learned that Etsy has also updated the seller's income. Now the store's income = all sales - product discounts, which does not cover sales expenses, shipping costs, or orders that have been fully refunded and canceled. Net profit also deducts sales expenses, marketing, and shipping costs. In short, the figures of income and net profit have become more accurate.

Editor ✎ Nicole/

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