What is TieOut Sheets?
TieOut Sheets is a Google Sheets bookkeeping template for US sellers with an Etsy shop and a Shopify store. You import the Etsy monthly statement CSV and the Shopify Payments transactions CSV, and it builds one P&L, a fee breakdown and a payout-to-bank tie-out. It costs $39, one time.
Which files does it import?
The Etsy monthly statement CSV (Shop Manager > Finances > Monthly statements), the Shopify Payments transactions CSV (Finance > Payouts, then export the transactions) and, if you want the bank match, your bank deposits with date, description and amount.
Why is my Etsy deposit less than my sales?
Etsy takes its fees, shipping labels, Etsy Ads and refunds out of your payment account balance, and deposits what is left. Etsy says the deposit will not match your net profit. The Payout Bridge tab starts at the opening balance, adds the month's net activity, takes away each deposit and shows the difference to the closing balance.
Why do my Shopify payouts not match my sales?
Each payout is sales less Shopify payment fees, refunds and disputes, and it covers the days before it. Shopify settles US payouts after at least 3 business days, and banks take 1 to 3 business days more. The Payout Bridge lists each payout with its gross, fees and net; sales still waiting at month end show as not yet paid out.
Does Etsy collect sales tax for me, and how does the sheet show it?
Etsy calculates, collects and remits US sales tax for sellers on Etsy orders. The sheet shows that tax as a memo line, not as income. Shopify payouts include the sales tax you collected yourself, so you enter that amount on the Start Here tab and the P&L takes it out of sales.
Which Etsy fees does it split out?
Transaction fees, processing fees, listing fees, Offsite Ads fees, the Etsy subscription, VAT on fees, other Etsy fees, Etsy Ads and shipping labels bought on Etsy, plus Shopify payment fees. The Fees tab shows each one as a share of gross sales and per order.
If I sell on Etsy and Shopify, do I pay fees on both?
Each platform charges fees on its own orders. Etsy charges its fees on Etsy orders, and Shopify Payments charges its processing fee on Shopify orders. The P&L shows the two sets side by side, so you can see what each shop costs you.
Why does my 1099-K not match my statement?
Etsy says the sales tax it collects from buyers is not reported on the 1099-K it issues, and a 1099-K reports gross payments before fees and refunds. The P&L shows gross sales, refunds, fees and the sales tax memo line apart, which helps you see where the numbers differ. Ask your tax professional how to file.
What are the limits?
USD only. One Etsy shop and one Shopify Payments store. Up to 3,000 rows for each platform each month. It runs in Google Sheets with a free Google account; Excel is not tested. It does not import PayPal, Square or Amazon.
Can I use it with a shop in another currency?
No. This version supports USD only. The Exceptions tab counts rows in another currency, so you see at once if a file does not fit.
Where does my shop data go?
Nowhere but your own copy. The workbook is plain Google Sheets formulas in your Google Drive. There is no add-on, no script, no permissions screen and no connection to your Etsy or Shopify account, and we cannot see your copy.
How long does a month take?
About 10 minutes once the Start Here tab is filled in: download two files, import each into its tab, read the Exceptions tab, then the P&L.
How do I buy it, and what if it does not work for my files?
The price is $39, one time, with no subscription. Checkout opens this week: email lalit@tieoutsheets.com and we send the link the day it opens. After you pay, Google makes your own copy of the workbook. If the sheet cannot handle your files, we refund the $39.
Is this tax advice?
No. TieOut Sheets is a bookkeeping aid, and we are not accountants or CPAs. Ask your tax professional about your filing.