10/2/2023 0 Comments Godaddy bookkeeping reviewsIt’s particularly frustrating that QB Self-Employed, now recommended by Etsy, has no inventory capability, since this is something that most makers and artists specifically need for tax purposes. In fact, only the most expensive versions do. The most affordable versions of QB do not include inventory management.QB will keep a running tab on your suggested estimated quarterly tax payment, which I find super handy.Note that many of these functions are only available with the higher-price options. These functionalities are great for bigger Etsy shops. QB offers tons of additional capabilities as your business grows – like payroll, Turbo Tax integration, bill pay, invoicing, 1099 creation, and more.QB integrates with Etsy, PayPal, and most banks, which theoretically makes importing in your transactions each month an automated breeze (see my video for how fun that was).QB online & QB Self-Employed have lovely phone apps that make bookkeeping on the go simple and accessible (I mean, who doesn’t love to “bookkeep on the go”, right?!).Nearly every accountant or tax preparer out there is familiar with QB, so there are lots of opportunities to get support, outsource, or hire someone to review your work in this system.There’s also the popular QB Self-Employed, which Etsy has recently endorsed. QB has a few options covering a span of capabilities and price ranges, from QuickBooks Online Simple Start ($10/mo) to QuickBooks Desktop Pro ($200-$300). QB is basically the big mama when it comes to bookkeeping software. The results were interesting to say the least! QUICKBOOKS If you’re really curious, you can watch this video, during which I attempt to actually set up my Etsy shop in QuickBooks, GoDaddy, and a Paper+Spark spreadsheet and compare the resulting numbers. I’ve also got a handy quick guide for you to download. A lot depends on what type of products you sell and what your bookkeeping & tax needs are (whether you have employees, type of entity, etc.).Īs an Etsy shop owner, maker, and accountant, I recently tested out and compared three popular bookkeeping options, QuickBooks, GoDaddy, and Wave, plus I created a 4 th option, Paper + Spark.īelow, I summarize the results of my testing in order to help you figure out which system best fits your personal biz needs. Of course, bookkeeping systems aren’t one-size-fits-all. Includes inventory functionality (an often overlooked issue that makers need for tax time!).Makes tax-time easier (keeps a running tab of net income so you know what to expect, and categorizes expenses in a tax-friendly way).Easy to use (user-friendly and easy to set up).It can be challenging to navigate the murky waters of options if you aren’t totally clear on what you should be looking for in a bookkeeping system.Īs a maker myself AND an accountant, an ideal bookkeeping set up for makers includes the following: One of the first steps with setting up shop is to choose and set up a bookkeeping system for your business. Bookkeeping! Every creative entrepreneur’s favorite topic.
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