At a glance
Net Revenue (after Etsy fees + refunds) is the money your Etsy shop actually keeps once Etsy has taken its cut and refunds have been returned to buyers. It starts from gross sales, then subtracts the 6.5% transaction fee, the $0.20 per listing renewal charged every four months, payment processing fees, any Etsy Ads spend, and the value of refunds issued in the window. An Etsy seller cares because gross revenue can look healthy while the take-home figure quietly erodes under rising ad spend, a spike in refunds, or fee drag on low-margin items. Good looks like net revenue growing in line with gross. Bad looks like gross holding flat or rising while net falls, which means fees and refunds are eating an ever larger slice of every sale.
Calculation
Net revenue takes gross Etsy sales for the trailing 30 days and subtracts the layers of cost Etsy applies to a sale: the 6.5% transaction fee on item plus shipping, the $0.20 listing fee charged at creation and again every four months on renewal, payment processing fees, and Etsy Ads spend where the shop runs ads. It then deducts the value of refunds issued during the window. The result is compared against the previous comparable 30-day period, and the alert fires when net falls by more than 10% versus that prior period.Worked example
Illustrative numbers. A jewellery shop bills 6,950 and trips the alert. Opening the breakdown, the owner sees Etsy Ads spend jumped after they turned on ads for the full catalogue, and a batch of sizing refunds landed in the same window. They narrow Etsy Ads to their best converting listings and add a sizing guide to the listings that drew refunds. By the next period net recovers toward gross. The owner uses Vortex Mind to trace exactly which deduction line grew most, then asks Ask Viq, “how much did Etsy Ads and refunds cost me net this month”, to get the answer in plain English without exporting a spreadsheet.Sibling cards merchants should reference together
Reconciling against Etsy Shop Manager
Where to look in Etsy Shop Manager: Reconcile against Shop Manager > Finances > Payment account, which shows your sales, fees, refunds, and the resulting amounts deposited. Cross-check the fee lines under Finances > Monthly statements, and review Etsy Ads spend under Marketing > Etsy Ads. Why the Vortex IQ value may legitimately differ:
Cross-connector reconciliation: If you sell the same products on other channels, use Vortex Mind to confirm that a net drop is Etsy-specific and not a wider pricing or refund pattern across marketplaces.