Boost Your Etsy Shop Success with this FREE Tracker Spreadsheet!

Table of Contents

1. Introduction
2. How to Access the Spreadsheet
3. Using the Etsy Shop Revenue Tracker
4. Tracking Monthly Revenue
5. Cost of Goods Sold
6. Marketing and Advertising Expenses
7. Other Business Expenses
8. Calculating Net Profit and Margin
9. Using the Etsy Product Margin Calculator
10. Tips for Reducing Taxes
11. Recommended Books for Entrepreneurs
12. Giveaway and Conclusion

Introduction

Welcome to today's video, where we have something special for all the Etsy sellers out there. We will be giving away a spreadsheet that can help you track your Etsy shop revenue, expenses, and profit. In this article, we will guide you on how to access and use this tool effectively. By using this spreadsheet, you can keep your finances organized and gain insights into the profitability of your Etsy shop.

How to Access the Spreadsheet

To access the spreadsheet, you will need a free Google account. If you already have a Gmail account, you can proceed to the description section of the video and click on the link provided. This will take you to the spreadsheet. Once you open the spreadsheet, click on "File" in the top left corner and then click on "Make a Copy." This will copy the spreadsheet into your own Google account, and now it's yours to use and customize according to your needs. You can make multiple copies for different years to track your financial data effectively.

Using the Etsy Shop Revenue Tracker

The Etsy Shop Revenue Tracker is a comprehensive tool to track your monthly revenue, expenses, and profit. The main section of the spreadsheet displays the months of the year, allowing you to enter your financial metrics for each month. In the "Totals" column, you can find the sum of various categories, such as revenue, cost of goods sold, marketing expenses, and profit margin. As you enter your data, the totals will automatically update, making it easy to keep track of your financial performance.

Tracking Monthly Revenue

To track your monthly revenue, simply enter the total revenue generated on Etsy for each month. This includes the total sales amount in dollars. Fill in the corresponding cells for each month, and the spreadsheet will calculate the total revenue for the year.

Cost of Goods Sold

The cost of goods sold section includes product costs, shipping costs, and Etsy fees. Product costs refer to any expenses associated with producing your products, including custom molds or the actual cost of production. Shipping costs encompass shipping labels and any shipping-related expenses. Etsy fees include transaction fees and listing fees charged by the platform. Enter the total expenses for each category and month, and the spreadsheet will calculate the total cost of goods sold for the year.

Marketing and Advertising Expenses

The spreadsheet allows you to track your marketing and advertising expenses. The most common forms of advertising for Etsy sellers are Etsy ads, Google ads, and Pinterest ads. Enter the amount you paid for each type of advertising in the corresponding cells. You can also add additional categories if needed. By tracking your advertising expenses, you can evaluate the effectiveness of your marketing efforts and make informed decisions to optimize your ad spend.

Other Business Expenses

In the "Other Business Expenses" section, you can enter any additional expenses related to your Etsy shop. This may include software subscriptions, business supplies, or any other expenses not already accounted for. Use this category as a catch-all for any miscellaneous expenses. By recording all your business expenses, you can have a clear overview of your financials and identify areas where you can reduce costs.

Calculating Net Profit and Margin

The spreadsheet automatically calculates your net profit and net margin based on the entered data. Net profit is the difference between your total revenue and total expenses. It represents the actual profit your Etsy shop has generated. Net margin, on the other hand, is the net profit expressed as a percentage of total revenue. This metric helps you understand the profitability of your shop in relation to your revenue. It's important to ensure that your net profit is positive and increasing over time, indicating a growing and profitable business.

Using the Etsy Product Margin Calculator

The Etsy Product Margin Calculator is a useful tool to estimate the profitability of your products before launching them on Etsy. Enter the product price, production costs, packaging costs, shipping fees, and any other relevant expenses. The spreadsheet will automatically calculate the profit and profit margin for that specific product. This allows you to make informed decisions and prioritize products with higher profit margins.

Tips for Reducing Taxes

Taxes are an important aspect of running a business, and it's crucial to optimize your tax strategy to minimize your tax burden. The spreadsheet provides a section with tips and resources for reducing taxes. While this can give you a good starting point, it's important to consult a tax professional for personalized advice. They can help you take advantage of deductions and credits specific to your business, ensuring you pay the least amount of taxes legally possible.

Recommended Books for Entrepreneurs

As an Etsy seller and entrepreneur, it's beneficial to expand your knowledge and learn from experts in the field. The spreadsheet includes recommendations for top books on entrepreneurship, marketing, taxes, and finances. These books can provide valuable insights and strategies to help you grow your business, improve your marketing skills, and manage your finances effectively.

Giveaway and Conclusion

To show our appreciation for your support, we are conducting a giveaway. If this video receives 30 unique comments, we will give away 100 free access to our full Etsy bookkeeping tool, the Easy Etsy Bookkeeping Spreadsheet. This tool offers more in-depth features than the free spreadsheet introduced in this article. It includes visuals, automatic calculations, and tax reporting capabilities. Additionally, we are offering an exclusive discount for those interested in purchasing the tool. We hope that these resources, whether free or paid, help you increase profitability, reduce stress, and achieve success in your Etsy journey.

Thank you for watching, and don't forget to leave a comment, hit the like button, and subscribe to our channel for more valuable tools, templates, and tutorials for Etsy, Amazon, Walmart, and e-commerce. Stay tuned for future videos, and we wish you all the best in your Etsy business.