--- title: "Etsy with Taxomate: payouts, balances, second shops and common errors" description: "How Etsy payouts work in Taxomate, how to connect a second shop, what Etsy balances mean, and how to fix common errors." url: https://docs.taxomate.com/en/articles/12006078-etsy-with-taxomate-payouts-balances-second-shops-and-common-errors collection: "Quick Setup" updated: 2026-10-27 language: en --- # Etsy with Taxomate: payouts, balances, second shops and common errors How Etsy payouts work in Taxomate, how to connect a second shop, what Etsy balances mean, and how to fix common errors. Taxomate reads your Etsy payouts and sends them to QuickBooks, Xero or Wave. This article answers the questions we hear most about Etsy. ## Connect Etsy 1. Start Quick Setup and choose **Etsy** as your sales channel. Or go to **Settings > Connections**. 2. Have your Etsy shop login ready. Sign in with the Etsy account that owns the shop. 3. Approve the access that Taxomate asks for. Etsy sends you back to Taxomate. Your shop name shows under **Marketplaces** on the Etsy connection page. ![Connections page with Etsy and QuickBooks connected](https://staticfiles.gleap.io/ghelparticle/X73SydGjYHYSLFG3myzb6NcUqQ5zYfDsII7699ctrURJYLqLoAhhSeNYlt8sMH0Cx4fTCiLJlI6.png) To sign in to Etsy again, go to **Settings > Connections**, open Etsy, and select **Reconnect Etsy**. Use this if Taxomate lost access. See "Reconnect QuickBooks, Xero, Wave or your store". ## How Etsy payouts work in Taxomate Etsy keeps a ledger for your shop. It works like a bank statement. Taxomate makes one payout each time Etsy sends money to your bank, or charges your card for Etsy bills. If Etsy pays you once a month, you see one payout each month. If Etsy pays you every day, you see a payout for each day. Etsy payouts do not appear before Etsy pays them out. For help when a payout does not show, see "My payouts are not showing: what to check for Shopify, eBay, Walmart and Etsy". For older history, see "How far back does Taxomate import?". ![Payouts list for an Etsy account with statuses](https://staticfiles.gleap.io/ghelparticle/oXKSrwdp2P4f5w1QUJnyrsGczCW6aVLlKfvph8Jm9e91gStCc8lXafFCE1OM62MS2B6R7JW27Sj.png) ## Can I connect a second Etsy shop? One Taxomate account holds one Etsy shop. Each extra shop needs its own Taxomate account. 1. Open the account switcher and select **Create another account**. 2. Enter an **Account name**. Choose **Etsy** under **Sales channel**. 3. Under **Billing**, choose **Add to my current subscription** or **Bill separately**. 4. Select **Create account**. Then connect the second shop in that account. A second shop on the same sales channel (Etsy) fits on a single-channel plan. If your current account uses another channel, such as Shopify or Amazon, the form says **Your plan covers one channel.** Upgrade to a multi-channel plan, or choose **Bill separately**. Accounts that share one subscription share its monthly order allowance. See "Manage your plan, card and automatic plan upgrades" and "How do I create another account with the same email address?". The second shop needs its own invoice customer and its own settings. Open **Settings > Connections** in the new account and select **Manage marketplace mappings**. See "Marketplace mappings: what each setting does". ### "This Etsy shop is already connected" You see this when the shop is already in another Taxomate account. Nothing in your current account changed. Sign in to the Taxomate account that has the shop. If you meant a different shop, sign out of Etsy first, then connect again. To move a shop to another account, contact support. ## What are Etsy Pending Balances and Etsy Reserved Balances? Etsy can pay you more or less than the activity in a payout. Taxomate puts the difference in a balance account, so that the payout still matches your bank deposit.

Account	Type in QuickBooks	When you see it
Etsy Reserved Balances	Other Current Asset	The sales and fees in the payout add up to more than the amount Etsy deposited, and Etsy still shows a balance after the deposit. Taxomate puts the difference here as a reserve. When the Etsy balance after a deposit is zero and the amounts still differ, Taxomate uses the line Previous Reserve Amount Balance, which also goes to this account.
Etsy Pending Balances	Other Current Asset (earlier setups: Other Current Liability)	The sales and fees in the payout add up to less than the amount Etsy deposited, and Etsy still shows a balance after the deposit. Etsy pays out money that it held before, and Taxomate puts the difference here.
Etsy Carried Balances	Other Current Asset	Only when you send payouts as journal entries and a payout crosses two months. See "What is the Carried Balance Account?".

In Xero these accounts are current assets. In Wave they are other current assets. If you already have an Etsy Pending Balances account, it keeps its type (earlier setups made it a liability). You pick these accounts on the **Accounts and taxes** page. They show as the transaction types **Pending Balance** and **Reserved Balance**. Do not use an income or expense account for them. See "What are Accounts and taxes?". Taxomate never posts these balance lines to Sales or Fees. If the **Pending Balance** row has no account, the line goes to the **Reserved Balance** account, and the other way around. If neither row has an account, Taxomate does not send the payout. The payout shows **Needs setup** and names the row to map. Map **Reserved Balance** or **Pending Balance** to a balance sheet account, then send the payout again. If automatic sending is on, Taxomate sends it in its next pass. On QuickBooks, the payout page also shows **Create Etsy Reserved Balances and map these lines**. Taxomate then creates an Other Current Asset account with that name in QuickBooks, or uses it if it already exists, and maps both rows to it. A row that already has an account does not change. Payouts that are already in your books do not change. To move the balance line of an older payout, delete that payout from your books in Taxomate, then send it again. If the first line in the balance account is a release (**Previous Reserve Amount Balance** or **Pending Balance**), the account can show a credit balance. Move that opening amount to equity with one manual journal entry, or ask your accountant. ## Etsy is in one currency and my books are in another Taxomate sends the payout in your Etsy payout currency. This is the currency of your Etsy payment account, and it can be different from the currency of your listings. You do not enter an exchange rate, and the payout does not wait for one. In QuickBooks, Taxomate uses the QuickBooks exchange rate for the deposit date. Xero uses its own exchange rate. Before you send to QuickBooks or Xero: - Turn on multi-currency and add your payout currency. If you do not, the payout cannot be sent. The message names the currency, for example "EUR is not turned on in QuickBooks". Add the currency, then send again. - QuickBooks, when you send sales invoices: the **Invoice customer** for Etsy must use your payout currency. If **Record payment for reconciliation with bank deposits** is on, the **Payout bank account** must use your payout currency or your home currency. If one of them uses another currency, Taxomate stops before it sends anything, and the message names the account to change. Change it in **Marketplace mappings**. See "Marketplace mappings: what each setting does". ## Common errors **"Etsy authorization failed. Please try connecting Etsy again."** Connect again. Sign in with the Etsy account that owns the shop, and approve all the access that Etsy shows. If the page says "We could not complete this request" instead, do the same. **"Permission not granted. Please try again."** You did not approve the access in Etsy. Connect again and approve it. **"Request timed out. Please try again."** Wait a minute and connect again. **"Your account doesn't have any Etsy shops connected."** The Etsy login you used has no shop. Sign in with the login that owns the shop. If a message does not help, contact support. Tell us the message and your shop name. ## Questions about tax Etsy prices and shipping lines can come in as inclusive of VAT or tax. Check the tax rate on each transaction type in **Accounts and taxes**. See "How does UK/EU VAT work in taxomate?". ## Related articles - "My payouts are not showing: what to check for Shopify, eBay, Walmart and Etsy" - "How far back does Taxomate import? Getting older payouts and settlements" - "What does this settlement status mean?" - "Marketplace mappings: what each setting does" - "Reconnect QuickBooks, Xero, Wave or your store"