Etsy gives sellers several different CSV exports, and most people grab the wrong one. The orders CSV tells you what you sold; the payment account CSV tells you what happened to the money — every fee, every tax line, every deposit. It's the file that answers "why is my payout smaller than my sales?"
In Shop Manager, go to Finances → Payment account. Look for the CSV/download option (Etsy moves this link around, but it lives on the payment account page — often under a monthly statement or "generate CSV" control). Choose the month or date range you want and export. You'll get a file with columns like Date, Type, Title, Info, Currency, Amount, Fees & Taxes and Net.
Sale rows are money in — the buyer's payment. Fee rows are itemised money out: listing fees, transaction fees, processing fees, and the regulatory operating fee each get their own line. Tax rows are usually VAT that Etsy charged on its own fees (a 20% surcharge if you're not VAT-registered — most sellers have never noticed this line). Marketing rows cover Etsy Ads and Offsite Ads charges. Deposit rows are transfers to your bank — they're the money leaving the ledger, not a cost.
A month of statements for even a small shop runs to hundreds of rows, and the fees only make sense in aggregate: five different fee types, each small, quietly summing to 14–19% of sales for a typical UK shop. Seller guides genuinely recommend downloading this file monthly and totting up your real fee percentage by hand. That's the spreadsheet chore our auditor automates — in your browser, without the file going anywhere.
Etsy's export locations and formats change from time to time; if your file looks different, the auditor will tell you what it found. Not tax or accounting advice.