We updated how your Etsy shop finances work. This article explains the new Payment account. To access your Payment account:
Your new Payment account
In the past, you had separate pages for your Etsy bill and your sales. With your new Payment account, you see your Current balance, Amount due, and sales funds that are Available for deposit on the same page. You no longer have an Etsy bill or billing page.
Your current balance
Your amount due and available for deposit are a reflection of your Current balance. Your Current balance is your Etsy Payments sales minus your fees and taxes.
Amount due and Available for deposit
With the new Payment account, your fees are automatically deducted from your Etsy Payments sales. This means that you’ll only have a value in either your Amount due or your amount Available for deposit:
- Amount due: If you owe money for your Etsy shop, you’ll have an Amount due, which will be a negative balance. A negative balance only becomes an Amount due on the first of the month, and this means that your Etsy Payment sales didn’t cover all your fees from last month. This is similar to your former Etsy bill and consists of fees and taxes incurred.
- Available for deposit: If you made more money than you spent in fees, you’ll have an amount Available for deposit, which will be a positive balance. This is similar to your old payment account.
For example: You list 20 new items on November 16th. You now have a negative Current balance of -$4.00. If you make a $10.00 sale on November 29th, you no longer have a negative Current balance for November and instead have $6.00 Available for deposit because you made more than you owe in fees. In this example, a payment would not be needed in December because there is no Amount due.
What fees are included in my current balance?
All fees and service costs for selling on Etsy are listed in your Payment account, such as listing fees, transactions fees, shipping labels, etc.
This includes payment processing fees for using Etsy Payments. In the past, payment processing fees didn’t appear on your Etsy bill and were automatically deducted from your Etsy Payments sales. All fees, including payment processing fees, are now deducted automatically from your revenue.
How is my initial balance determined?
On the redesigned Payment account, we combined your outstanding bill balance with the balance you had available for deposit. As a result, you may see “one-time balance transfer” line items in your October monthly statement.
For example: If you had a September outstanding bill balance of -$25 but you had $10 in available to deposit, your initial Current balance on the new Payment account would be -$15, the net of these two values.
When can I pay a negative balance?
You can pay a negative balance, or Amount due, for a month between the 1st and 15th of the month when those fees are due. Since your Amount due is the fees due for the last month’s activities on Etsy that were not covered by your Etsy Payments sales, you’ll only have to pay an Amount due if you spent more than your earned in a month, or if you have an outstanding balance from previous months.
Note: If you’re a US seller enrolled in auto-billing, we’ll automatically charge the card on file on the 1st of every month or when you surpass your fee threshold.
Why do past deposits decrease my Current balance?
In the past, your total sales minus payment processing fees were available for you to deposit to your bank account. Any other fees and taxes you owed, such as transaction fees or listing fees were reflected on your bill at the end of the month.
When you transition to the new Payment account, you’ll see line items for past deposits to your bank account as deductions from your balance. In the new payment account, all fees, including transaction fees, listing fees, and shipping labels, are deducted directly from your sales funds before they are available for deposit.
For example: Before transitioning to the new Payment account, you made $30 in sales in October, minus payment processing fees. You also accrued $40 of fees in October.
In the old payment account, you could deposit all $30 of your Etsy Payments sales. You would also owe $40 on your Etsy bill.
In the new Payment account, the $40 in fees will appear as deducted from your $30 in sales. This results in a -$10 balance.
If you make a deposit to your bank account before your transition to the new Payment account, your deposit amount is deducted from the balance. In this example, your deposit of $30 is deducted which results in a Current balance of -$40.
Why can’t I see past bill payments made with my Payment account?
Past bill payments made using your Payment account balance are not shown in the new experience and this is intended. The redesigned Payment account directly nets out all your fees and service costs from your Etsy Payment sales.
In the past, when you made a bill payment using your Payment account funds, you effectively used those funds to pay your bill fees. The new Payment account automates this process.
How to see all activities in your Payment account
In your Recent activities, you can see your 30 most recent activities. To see the rest of the activity in your shop:
- Sign in to Etsy.com.
- Click Shop Manager.
- Click Finances.
- Click Payment account.
- Scroll to the bottom of the page.
- Click See all monthly statements under Monthly statements.
- Click the month you’re interested in.
From your monthly statement, you can download a CSV or VAT statement for that month by clicking CSV or VAT statement, respectively.