November 8, 2022
I go over the advantages of using Sotira as an Etsy seller to best manage income, expenses, and sales.
Sotira’s platform allows an Etsy user to track their overall income. It has features that allow them to add revenue/sales, track expenses, and take personal notes!
In general, it’s important to track your expenses for your business to verify that they are for your business for tax purposes. This means that it is essential that you keep your receipts and purchases organized! Etsy itself does not have a platform within the marketplace for you to keep track of these expenses. This is where Sotira comes to the rescue. Sotira is a financial tracking, optimization, and pricing discovery tool that can help Etsy sellers keep track of what they are spending on the materials for their businesses. When you add expenses on Sotira, you have the option to add the category of product (ex. If your business is jewelry, then earrings could be the category and the material you are buying could be hooks). You also have the option to add where you bought the materials and see all of the expenses overall. Furthermore, Sotira gives you a visual representation of all of those expenses through pie charts, bar charts, and line charts!
It’s important to also track sales. On platforms like Etsy, there are a lot of transactions between business owners and customers. This is why Sotira is essential! Sotira helps you track those transactions, noting what was bought, the date, final sale cost, total fees (so how much it cost you to create the product), customer, and any personal notes. This will not only help keep you organized, but also allows you to see if you are spending more on making a product than you are making when you sell.