An Example Chart of Accounts for an Etsy Shop Owner

Here is an example chart of accounts for an Etsy shop:

Assets:

• 1010 Checking Account

• 1020 Savings Account

• 1030 PayPal Account

• 1040 Undeposited Funds

• 1050 Inventory

Liabilities:

• 2010 Accounts Payable

Equity:

• 3010 Owner's Equity

Revenue:

• 4010 Sales

• 4020 Shipping Income

• 4030 Sales Tax Collected

• 4040 Discounts and Refunds

Cost of Goods Sold:

• 5010 Cost of Goods Sold

Expenses:

• 6010 Advertising and Promotions

• 6020 Bank Fees

• 6030 Office Supplies

• 6040 Internet and Phone

• 6050 Shipping Costs

• 6060 Etsy Fees

• 6070 Payment Processing Fees

• 6080 Professional Fees (Accounting, Legal, etc.)

• 6090 Rent

• 6100 Utilities

Note that this is just an example and may not be applicable to every Etsy shop, as each business has its unique needs and requirements. It's important to consult with a professional accountant or bookkeeper to determine the best chart of accounts for your specific business.