ETSY BOOK KEEPING & FINANCES | Taxes, savings & investing
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- Опубліковано 25 лип 2024
- This video is Sponsored by Skillshare! Get two months of Skillshare Premium: skl.sh/katnipp12
Hello guys! And welcome back to my channel! Today I'm going to run down how I sorted out my finances and book-keeping for my etsy business!
I really hope you find this video helpful!
I hope this helps!
YOU DA BEST
Love,
Catherine
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KATNIPP:
🌸PATREON: / katnipp
🌸BLOG: www.katnipp.com
🌸ETSY STORE: www.etsy.com/uk/shop/katnippi...
🌸FACEBOOK: / katnippillustrations
🌸INSTAGRAM: / katnippillustration
🌸PINTEREST: www.pinterest.co.uk/katnippil...
🌸PERSONAL: / catherinekayy
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PRINTERS & SUPPLIES:
🌸Epson ECOTANK (Stickers & Backing Cards) : amzn.to/2CKJfn4
🌸Art Print Printer: amzn.to/2RjzIbO
🌸Sticker Cutter (Cricut): amzn.to/2y4gzSk
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FILMING SET UP:
🌸Canon G7X : amzn.to/2OZuccV
🌸Tripod: amzn.to/2P2p47Y
🌸Editor: FCPX
🌸 MUSIC FROM EPIDEMIC SOUND - Навчання та стиль
Hello Guys! I hope you liked this video, remember that this isn't a advice video, it's more just about how I did my finances in my first couple of years in business, so take this with a grain of salt, and if you need proper financial advise please seek it (because I am not the greatest at finances hahah) - Also if you like this lil purse illustration you can buy him as a little planner sticker to help keep track of your finances here:
www.etsy.com/uk/listing/695012577/payday-finance-planner-stickers-budget
heheh YOU DA BEST
Love,
Catherine
AKA the Human Marshmellow
xxxx
OMG your little finance binders make finances SOOO fun!!!
As an accountant I would say you gave great advice to those trying to get grips of business finance! Keep up the good work and thank you for sharing such a insightful video 💕💕💕
Frah UK I agree with you! She gave a great insight, with her own business as example. 😊
Hello, one question. The 30% that I should reserve for taxes is just from my revenue or from the total price?
There are quite a lot of artists that I follow on social media because I appreciate their style, skills, and knowledge. It is very rare that I become invested in someone not just for their content, but as a person. I can only speak for myself, but you seem to elicit that from people
right!? I have only watched 3 videos so far but I am feeling so excited and confident to get everything set up. I have more hope that I will at least make a little bit of money, than doubt and fear because I have these videos to look back on to give me advice any time I want.
This is so helpful. A lot of my friends have been telling me to start selling my artwork and I don’t know the first thing about doing that. I’m such a chicken when it comes to finances and things like that. You’re so sweet and lovely that it doesn’t seem as monumentally scary. Still scary but not aaaaaaaas scary.
Thank you for sharing. Helpful! Please make a video on how to manage inventory. How do you keep track of the tools and items that you use to make products and also how do you keep track of the shop items you make. Do you simply use an excel sheet to count them. Do you do weeding at the end of the year... That sort of thing. No one ever talks about that :(
Yes this is a great video idea!
I third this suggestion!
I’m currently studying accounting and bookkeeping currently and all of this matched the advice we’re given in classes, this is wonderful advice to give people who are starting out or who don’t know about finances! 💕💕
Came for the quick advice, stayed for you! Very genuine both with your store conduct and as a person. I have a lot of fun watching your videos and they offer genuine advice thank you so much for sharing your experience and just for being you
Packaging is a lot to consider as part of your cost.
Many people create the product and then under buy their packaging - where first impressions are everything.
Yay have been needing a video like this, thanks for sharing! Very helpful! 💕
I really love hearing how things were for you at the start, I can relate soo much! These are things I’ve done too 😅
This came at exactly the right time for me. Thanks so much.
Thank you so much Kat, this video is really helpful!!! 🧡
Gah! This is so informative! Thank you so much for taking the time to make this video 🥰💜
This was sooo helpful!!! Food for thought for my future business goals..Thanks love!
❤️
this has been so useful! i'm so glad you speak about all the different aspects of starting and owning a business :D
Yaaas! I’ve been waiting for this video! It was very informative, and will definitely help new entrepreneurs on the financial side of their business! ❤️
OMGGG, so so sooooooo helpful!!! Been wanting to start up an ecommerce store for ages but was so unsure about the finance/tax side of things :( thanks for sharing hun x
Thank you Catherine!!! This is greatly helpful xxx
If you sell on Etsy, go to your Shop Manager and then to Integrations. It gives you ideas of apps and social media sites to link to your Etsy shop. Under the bookkeeping and taxes section it gives you a few suggestions: Quickbooks, Taxjar, Greenback, Wave and Taxcloud. Think some are region specific e.g. USA but it’s a good place to start if you’re looking for inspiration 😊 xx
Fabulous video, thank you so much! Super helpful! I love these kinds of videos! You are awesome! ♥️
I found that very informative. Thank you Katnipp xxx
Thank you 💜. You answered some of my questions and helped me with the concerns I had about the taxes. Thank you for all of your advice and inspiration. You have helped me more than you know. Love you
Brilliant video! Just what I've (and I'm sure lots of others) been looking for. Thank you for taking the time to make such a useful video :)
You are a marshmallow gem! Thank you for sharing your tips!
Fan-girling again. Loved talking with you on Instagram and getting to watch you on youtube is awesome!!
Yes! Very helpful thank you! Just the tips we all need x
this helped me a LOT! I don't have a single knowledge in finance area and because of that I can't organize my shop's money. Thank uu!!!
I think you don't give yourself enough credit about how much knowledge you have accumulated. I learned a lot from this video! Thank you and you always make me smile. 😊💕
You’re so open and helpful with how you manage all aspects of your business.
Gosh when i do my self assessment, i always get confused with the words capital allowance and stuff, but your video helps me a bit!
Super love quickbooks self employed too and it’s integrations for my multiple Etsy shops! It works equally as well and fast in the US as it seems to for you in the UK
I think it great that you, as someone who doesn’t find themselves finance minded, shares what works for you. You break it down so it’s easy to understand.😊💕
Currently binge watching all of your videos. Your advice is priceless, thank you for sharing it with us ❤️
Thank you so much for this video!! I have an etsy, but I haven't been taking it real seriously in the past (proper bookkeeping, branding, consistency, etc). I'm starting from square one and going ti make sure I start as prepared as possible!
This is so so helpful and honest! Im opening my Etsy shop in a few days, this has been a godsend! You and your videos are fabulous! :)
Just finished and this was actually super useful, although I am nowhere near the profit needed to file for my taxes, yet, this gave me quite a bit of insight into what I hopefully will have to do soon enough. Good shout on the quickbooks advice, I've been considering getting it but so far I hadn't seen anyone from the uk do an in-depth talk on it 👏🏾
This was one of my favorite videos I've seen in a while. Mostly because I've been self-employed (not as an artist yet, though that is a goal one day) for about 5 years and I LOVE hearing what others are doing on the business end, and I also because I discovered in the process of running my own biz that I love the bookkeeping end so much that I'm actually going to school for accounting now!
Love the folders!!! Great advice!!!
Love this video, I didn’t know Etsy & quickbooks integrates automatically. That’s brilliant & so useful to know as I’m about to set up an Etsy store! Thanks for the info! ❤️
I love the kitty bank b roll. :) so cute! also, thanks for sharing the financing video.
Aaah yes i was secretly waiting for this!!! I officially started my own company about a month ago (YAY! also, aaaaaaAAAaaa so scary) and the whole finance part of it still really scares me. This is so so so helpful lovely, thank you SO much!!! 💛💛🌻
Thank you! You made this seems bit less scary!
Super super super helpful. Most have taken Lia s and have accountants from the start. I have no loans. I have been going slow BUT suddenly am having to be bigger fast. This was very helpful. Thank you.
This was so helpful! I opened up my business a few months ago and haven’t been doing any bookkeeping (only been keeping receipts) and literally didn’t know where to start but this was really helpful and reassuring, thank you!!! Xx
Thank you for your advise and experience ☺️
This is so helpful especially with taxes because I’m a young business owner who has just left school i wish they taught how taxes and tax returns worked in school thank you so much
Thank you! Plain English explanations, you are so good at that, breaking it down into digestible pieces. I’m in oz,, but we have similar stuff (sole vs Ltd etc). Nearly cried when you explained Ltd, co., And how you divide your activities, I have Never before been able to get my head around the meaning of Ltd co !
I found this helpful! Thank you so so much! :D
This is so helpful - you got rid of most of my anxiety 😅 Thank you so much for sharing
thank you so much for talking about this!!
Thank youuuu this was so great for me starting our on etsy
As a creative, finances and math, in general, SCARE me! lol I loved this sooo much! I will have to look to see if you have done a "How to price your items to sell" video if you havent made one yet I look forward to seeing it or finding it! Have a great day! :D
Thank you for your video I took notes! I found it very interesting!!
Thank you so much for sharing! Your amazing 💕✨
This was very helpful. Thank you
Fanflippintastic Catherine! Thank you so much for taking the time to do this, it was a lot of information and very helpful. I did not know ETSY was hooked up to Quicken(?) I'll have to tell my hubby helps with the books. Thanks again now go love on yourself and have a good weekend :)
You are a true inspiration and should be very proud of yourself. These videos have pushed me to follow my dreams...
I cannot express how helpful this video was, and not only that but it was so fun too. I know, I can’t believe it, u made finances fun 😳 thank you thank you thank you ❤️
The video has been up for 9 minutes and there are already comments, so we all know damn well none of us finished this video yet 😂😂 I love the KAT FAM 😂😂 By the way Catherine I know you say this isn't advice, but this is certainly guidance. You have helped and encouraged a bunch of people, including myself, on how not to only start their businesses but how to believe in themselves enough to make the jump and challenge themselves to do better every day 💗 you are literally DA BEST 💗
Curly hahaha yep I normally comment about a minute in😂🙌 can’t wait for the vlog to go up! I feel like all the artists I follow aren’t uploading atm except Katnipp!
RMH ART omds same! A lot of the artists I follow haven’t been posting as much, but not to worry, Catherine always comes through right?! 😂😂
Curly ikr!! She always comes through 😀🙌 I thought it might have just been my notifications not working but nope hahah
I’m not sure if you follow painters but I upload vlogs and speedpaints + art chats if that’s something you might be interested in 😊
Heheheh I love you guys so fricken much 💕😭😍😍🙏
you are awesome! thank you Katherine
It’s great to see others and how they do their finances. Mine is literally an excel spreadsheet atm, however I have had no income 😬
I love your videos! ❤❤
So helpful! Thank you for sharing! :D
Great info, thanks Katnipp
Thank you so much for sharing this video!
I've just started a tiny Etsy shop and this insight is invaluable, so thank you so much for sharing!!
Thank you for this, so helpful. I am just starting up as I have had to close my beauty business because of covid19
You are so helpful. Ive opened my shop on etsy recently and not sure how to do the text return. Thank you for this video ❤❤❤
Thank god for either book keepers and electronic book keeping software. My parents have owned their own business for as long as I can remember. I remember every month my mom would spend a day doing the books by hand in this special book keeping book. It had this special grid paper and she would sit there for hours.
Thank you so much for this video!!!!
Thanks for sharing ❤️ I don't have a small business yet, but I would like to have one someday 😊
Do it today!!
This very helpful!
Loved this video! So informative and just what I needed. What I'm a bit confused about is if you need a license or document to be able to sell online or have an online store. I hear people talking about it but not really how to get it. I'm in NYC now and am interested if there's such a thing and how to get it.
Great video thank you 🌟
yyeeessss!!!!! Thank you katnipp!!!
Kat, this video is SO helpful. I know a lot of this info can be found online, but Universities should be absolutely ashamed of themselves if they do not offer information like this. Mine certainly didn't (that was a very long time ago now though, haha) and it seems like not much has changed. It's like they don't want new creatives to know this stuff! Thank you for breaking it down so eloquently, and making it seem a lot less daunting for those new to running their own businesses. I'd have loved to watch a vid like this when I was at uni as a concise introduction to the money side of things.
Thank you for sharing - I think you did a wonderful job explaining the basic financial principles. Very well structured and - yes - entertaining! I hope you don't mind me asking for additional information regarding the following: you are doing your stickers with your own criscut maschine. I know that there is something like stickerapp or stickeryeti online where you can upload your designs and get the stickers. What do you think about that? Did you make your own stickers from the beginning? When is it financially sounder to that (it includes investing in another machine) It would be great if you could say something about that in one of your next videos... Thanks in advance!
Thanks for the really helpful video was just wondering how you log things you’ve brought in the past that you want to use towards a business ? Ie the bits you brought before you started but still use x
Do you know what?... You are flippin Awesome. Thank you for sharing
Could you maybe talk about if you had any products that didn't do well when you started or what you did to make things that would make a profit etc ?
So funny, I know you love the pastel colors, but I am binge watching your videos now and saw one you were wearing a black color sweater and now your hair is darker. The darker colors look so good on you. ❤️
THANK YOUUUU!!!! 🙌🏾🙇🏾♀️
Thank you for sharing. I’m trying to figure out how to get started on Etsy and have a plan to grow with a small budget. I’m a housewife who will be having another baby soon so I won’t be getting a part time job to support my business. I’m trying to see how much I should save from my pocket money before I launch my site. I already have some supplies I can work with. I’m mostly concerned about shipping experience and other business needs. Anyone have a tips or suggestions? I would appreciate them.
hello Katnipp, I was wondering if you could talk about payroll. Maybe do an updated version of this video?
💔ya too, thanks for the info!
Thanks for another informative video!
Question: Is there a reason why you don't also have a print on demand shop ( Society 6, Redbubble, or Spoonflower) or an integrated service like Printfy, Printful, etc.to offer more products like T-shirts etc?
See
So useful! :)))
Great video, super helpful! Does becoming a sole trader depend on your earnings or is this something that is required when you start selling online/ starting a business? So glad I found this video:)
thanks, i'm doing my first tax return this year and i have no idea. gonna use quickbooks lol
Great video
Also this video has spurred me on to get up to date with my 2019/2020 numbers!
Thankyou!! Could you reccomend any small creative business accountants
This was an IMMENSELY helpful video, thank you Katherine!
The way you broke it all down, talked about your business' timeline and changing needs as you grew really helped make the idea/plan of having my own art business seem much less overwhelming.
I also reeeally appreciate how simple your systems and tools are... especially because, like you, I avoid math as much as possible :B
You know that scene in black books where Bernard black makes a outfit of of his receipts to avoid his tax return because he doesn’t know what to do… that would be me lol…
Thank you! It was helpful. And , encouraging- SongB: Entertainment
You’re so beautiful and lovely - I wantched your video on lac of support and I think I’m obsessed with you and your art WHERE HAVE YOU BEEN MY WHOLE LIFE??
for any veiwer in Sweden just note that doing your bookkeeping in excell isn't allowed you need a proper bookeeping program. There are a lot out there and for your safety do your reaserch before choosing. Also fo over skatteverkets site about tax and moms for alla the different types of companys. I also recomend Verksamt site and also nyföretagarcentrum and simmilar sites if you live in Sweden.
Thank you so much for sharing 💕😍
Do you have any advice for people who have just started out but need to take a wage from business income to pay for living expenses and how you do this?
As an American, your accent is so cute
Yay! A new video!