If you have just opened an Etsy account, you might be wondering how their listing fees and payment processing fees work. Unfortunately, it can be difficult to calculate how much you will have to pay every time you sell a product. In this article, we will cover everything you need to know about Etsy fees and Etsy payments, before showing some of the best Etsy fee calculators you can start using today.
What is an Etsy Fee Calculator?
Because Etsy transaction fees can be a little difficult to estimate, many sellers choose to use a calculator that can deal with all related expenses, including the payment processing fee, shipping fees, deposit fees, and sales tax. If only there was a way to save time every month on Etsy bookkeeping? (spoiler alert: Link My Books has what you need right here)
The way Etsy seller fees calculators work is quite straightforward. First, you input your item's total sale price and cost (you should make sure you account for materials, labour, and any shipping expenses). Then, you choose whether you want to include the ad fee and... that's it! The calculator will give you a detailed breakdown of the Etsy shop item. Typically, you will also be able to see the details for all profits, profit margins, and all Etsy fees owed.
Knowing the Different Types of Etsy Fees
Before we jump into our pick of the best Etsy calculators, it helps to know what exactly those fees you’re looking at mean. While Etsy is a great platform to sell your products, fees can be a little difficult to understand when you're new to the site (in all honesty, they remain tricky even when you become a seasoned seller!). On top of a listing fee, you usually have currency conversion fees, Etsy payment processing fees, transaction fees, and sometimes even a monthly subscription fee.
Types of Etsy Fees
There are a few different fees to keep in mind when using Etsy and Etsy ads. These are:
- Listing Fees: Every time you list an item for sale on Etsy, you will need to pay a fee of $0.20 for it. You will be charged this sum no matter if your item sells or not (unless it's a private listing, in which case you only pay once). This fee expires after four months.
- Transaction Fees: If you make a sale, you will also be charged a transaction fee of 6.5% of the listing price plus the amount you're charging for shipping and gift wrapping. One important thing to keep in mind here is that there might be a sales tax for transactions that require conversion into another payment account currency.
- Advertising fee: There are many ways in which Etsy can help you advertise your products, including Offsite Ads and Etsy Ads. These ads fees are based on your budget and are charged on a recurring basis. Etsy Offsite Ads are calculated as a percentage of the total order amount.
- Subscription Fees: If you have a good standing with Etsy, you might be offered a subscription package for $10 a month. The Etsy Plus Subscription fee is automatically deducted from your balance each month.
- Other fees: If you use Square reader, you can sell Etsy products in person and pay a fee of $0.20 per listing. In some cases, you'll have to pay payment processing fees based on the location of your bank account. Other fees include delivery fees, regulatory operating fees, and pattern fees.
The Best Etsy Fee Calculators in 2022 and Beyond
If you're looking for a simple way to calculate how much Etsy charges for your products, you can use one of the calculators we will mention in this section. But did you know you don’t need to do your Etsy bookkeeping manually? If you want to avoid complicated Etsy fees and tax calculations completely, Link My Books is here to help. So, let’s start with the manual options in case you want to try estimating your costs yourself:
- Alura: Alura is a free Etsy fees calculator that lets you determine your selling prices so you can save money and increase profits. One of the main advantages of this calculator is that it’s incredibly simple; you just need to input the selling price and cost and select whether you use offsite ads.
- Omniprofit Calculator: Omniprofit offers both an online calculator and a profit calculator spreadsheet. Whether you're just starting or have been in operation for a while, you will surely find this tool quite beneficial. In addition to item price and shipping charge, you can also include the shipping cost and any relevant taxes and payment methods into your estimation.
- CraftyBase: CraftyBase Etsy seller fee calculator is extremely easy to use and allows you to see fees depending on the buyer's location. And, unlike the previous calculators we covered, you can also estimate fees by location and material and labour costs.
- Investomatica: Investomatica offers an Etsy fee calculator that is constantly up to date and can help you calculate profits while breaking down all prices and fees. It includes several advanced options and excellent detail for your final calculations. Additionally, it also supports seller location options.
- Crtaftkit: Craftkit is another handy Etsy fee calculator with an efficient, comprehensive interface that covers different currencies, revenues, and costs. This calculator is a good choice because it has an excellent breakdown of all fees and many options for customizing your calculation.
How Automated Accounting Helps with Etsy Fees
If Etsy bookkeeping is stressing you out and you would rather spend time selling rather than calculating fees, VAT, and taxes, you can automate all your ecommerce needs using a fully automatic platform like Link My Books. Many Etsy sellers also offer their products across other platforms such as Amazon, eBay, and Shopify. If you need help calculating VAT and understanding how automated accounting can help with your fees.
Did you know that, with a simple 15-minute setup, you can save your business six hours of confusing Etsy calculation a month? Plus, if you use our Etsy accounting integration, you will never have to overpay tax again! Don't hesitate to contact us today and learn how you can automate your accounting so you always pay the correct taxes and don't need to take care of your Etsy processing manually.