What you see
The deposits in your bank are smaller than your Etsy sales, and no deposit equals any order.
Why it happens
Etsy's help page on calculating your deposit says: "Your deposit amount may not match the Net profit amount in the Activity summary of your Payment account." and "When you're enrolled in Etsy Payments, your sales funds are used to pay for your shop fees." Pending funds cannot be deposited yet.
Etsy deposits on a schedule ("daily, weekly, biweekly, or monthly deposits"), and deposits take 1 to 5 business days to arrive, per Etsy's deposit help page, so a deposit covers sales from several days.
Etsy's own method is to start from the last deposit in the monthly statement CSV and add up the fees, taxes and available sales since then.
How to fix it
- In Etsy open Shop Manager, Finances, Monthly statements, View all monthly statements, pick the month and choose Generate CSV. Etsy emails the file.
- Drop the file into the converter above. It is recognised as an Etsy statement.
- Set the account names to the ones in your chart of accounts and download.
- Import it in QuickBooks Online under Import data, Journal entries, then match the bank line to the month's deposits.
What this does not fix
- The statement does not say which sales each deposit paid, so the converter writes one entry per month, not per deposit.
- Where Etsy collects sales tax for the state, it nets to zero in the entry; tax you collect yourself is a question for your tax preparer.
- Every account named in the file must already exist in QuickBooks.
Before and after
Before: the Etsy monthly statement CSV as downloaded
Date,Type,Title,Info,Currency,Amount,"Fees & Taxes",Net,"Tax Details" "March 31, 2025",Deposit,"$1,208.35 sent to your bank account",,USD,--,--,--,-- "March 28, 2025",Marketing,"Etsy Ads","Bill for click-throughs to your shop on Mar 27, 2025",USD,--,-$0.86,-$0.86,-- "March 20, 2025",Refund,"Refund to buyer for Order #3600000002",,USD,-$17.37,--,-$17.37,-- "March 20, 2025",Fee,"Credit for processing fee","Order #3600000002",USD,--,$0.89,$0.89,-- "March 20, 2025",Tax,"Refund to buyer for sales tax","Order #3600000002",USD,--,$1.30,$1.30,-- "March 9, 2025",Fee,"Listing fee ($0.20 USD)","Listing #1500000001",USD,--,-$0.20,-$0.20,-- "March 8, 2025",Fee,"Transaction fee: Shipping","Order #3600000001",USD,--,-$0.31,-$0.31,-- "March 8, 2025",Fee,"Transaction fee: Hand-thrown mug, ""speckled"" glaze...","Order #3600000001",USD,--,-$2.73,-$2.73,--
After: what QuickBooks Online (journal entry import) receives
| Journal No. | Journal Date | Account Name | Debits | Credits | Description | Name |
|---|---|---|---|---|---|---|
| BR-20250331-1 | 03/31/2025 | Sales of Product Income | 1250.00 | Gross sales - Etsy activity 2025-03 | ||
| BR-20250331-1 | 03/31/2025 | Sales of Product Income | 17.37 | Refunds - Etsy activity 2025-03 | ||
| BR-20250331-1 | 03/31/2025 | Bank Charges & Fees | 4.83 | Fees - Etsy activity 2025-03 | ||
| BR-20250331-1 | 03/31/2025 | Sales of Product Income | 2.06 | Sales tax collected by marketplace - Etsy activity 2025-03 | ||
| BR-20250331-1 | 03/31/2025 | Checking | 1208.35 | Deposit - Etsy activity 2025-03 | ||
| BR-20250331-1 | 03/31/2025 | Uncategorized Asset | 17.39 | Kept in Etsy balance - Etsy activity 2025-03 |
Synthetic sample data that follows the real export layout, not a real account. The "after" output was produced from it by the same converter this page runs.
Import the fixed file into QuickBooks Online (journal entry import)
- Make sure every account named in the file exists in your chart of accounts (or change the account names before downloading).
- In QuickBooks Online go to Settings (gear) > Import data > Journal entries.
- Upload this CSV and map Journal No., Journal Date, Account Name, Debits, Credits, Description and Name.
- Review and import. Each payout (or month) becomes one balanced entry.
Questions
- Why is my Etsy deposit smaller than my sales?
- Etsy's help page says your sales funds are used to pay your shop fees, so the deposit is what is left. The journal entry lists each kind of fee from the statement, so the difference is accounted for.
- Can I import the Etsy CSV straight into my bank account?
- You can convert it to a QuickBooks Online CSV, but your bank only ever received the deposits. A journal entry per month keeps sales and fees in their own accounts and the bank line at the deposits.
- Does each journal entry balance?
- Yes. Debits and credits are equal to the cent; money still held by Etsy goes to the clearing account, and the notes say so.
Converters for this file
- Etsy payouts to a QuickBooks journal entry
- Etsy CSV converter
- Convert a Etsy monthly statement CSV to QuickBooks Online
- Import a Etsy monthly statement CSV into Xero
- Payout journal entry from a CSV export
Related import problems
Sources
The rules on this page come from these help pages, checked 2026-11-05. Software changes; if your screen says something different, the help page is the authority.