How Earnr creates a steady income for Etsy sellers
Being a seller on Etsy means running your own business and being able to decide on what you sell, how you sell it and every other aspect of what you do. But the one problem many have is managing a lumpy income.
Earnr acts as the best accounting software for Etsy sellers because we can help you forecast your income for the months ahead. This means you can plan and make stock purchases to suit your business needs, and even pay yourself a regular salary that takes into account feast and famine months.
Read how to become an Etsy Seller
Here’s how we help in a bit more detail:
How Earnr helps Etsy Sellers
There are three main ways Earnr helps Etsy sellers:
- We track your incomings and outgoings
- We give you a monthly breakdown and forecast your yearly income
- We automate your tax return
Download our checklist for starting an Etsy Shop
1. We track your Etsy incomings and outgoings
First and foremost Earnr allows you to track your income and costs. This means no more spreadsheets and manually jotting down how much you’ve made or how much something has cost (and potentially getting it wrong). Simply connect your bank accounts to the Earnr app, and tap on which transactions relate to your Etsy business.
Whether you’re absorbing shipping costs to keep the price low for customers or you’re sourcing hard to find materials, we help you keep track of each expense to stop your Etsy business getting expensive. If you see spikes in your spending you can go back, review the cause in the increase and make adjustments moving forward.
Read 5 Things You Can Sell on Etsy Right Now in the UK
2. We give you a monthly breakdown and forecast your yearly Etsy income
As you add your transactions we put these into simple monthly bar and line graphs so you can see how much you’ve earned each month, and how much in total you’ve earned as the year goes on. A simple solution to desperately guesstimating how much you’ve made that month or so far in the year.
3. We automate your Etsy tax return
No more hours of going through receipts and pulling your hair out as the clock ticks towards tax o’clock. As long as you’ve tapped all your biz transactions we’ll handle the tax return for you, just hit the button in your app when you’re ready and it should take us a few minutes to process your whole Etsy tax return. This means you can spend more time running your business and building crafts that people love.
It really is as easy as 1,2,3.
Read how to become an ecommerce seller
How Earnr can provide Etsy Sellers get a steady income
So now you have more time to spend on the fun part of running an Etsy shop, but how do you get past the hurdle of unpredictable income? Some months are lean, some can be fat.
Because we give you a monthly total for your income and your outgoings you should be able to work out the average and then pay this as a salary to yourself, no matter what the month. And if you make a bit more than expected you’ll have put some savings aside.
If you’re worried about the future of your shop and concerned that you could make less over the coming months, well you can use our projections as a target to work towards. If you see where you can reduce your outgoings and expenses then you’ll be able to increase your profit margins (or decrease your losses).
By having the Earnr app Etsy sellers get a bird’s eye view of where they stand, meaning you can make informed decisions about your shop at a moment’s glance.
Read our complete Etsy guide to tax
Earnr helps set up Etsy sellers from the beginning
As an Etsy seller you need to declare a self-employed income whether you sell products full time or on the side, with a PAYE on the go too.
You can register your self-employed income through our app, so no need to go down the long winded gov portal route. We’ll talk to HMRC and organise your all important UTR number needed to complete your tax return. Which you can read more about here.
Earnr is the companion app for Etsy sellers that stays with you from the moment you decide to make a shop to your regular tax returns as an established business.
