Gain Financial Clarity With LinkmyBooks
- Save money and time by automating your accounting
- All sales, refunds, costs and taxes properly made up
- Automatic bank deposit matching with Xero & Quickbooks
- Integrated in assistance for VAT, GST and Sales Tax
Ecommerce Accounting Software: What is Link My Books?
Link My Books is a ecommerce accounting software that automates bookkeeping by integrating e-commerce platforms with popular accounting software like QuickBooks Online and Xero. Launched with the mission of helping online sellers save time, reduce errors, and improve financial accuracy, Link My Books streamlines the entire process of recording sales, fees, taxes, and other financial transactions, making life easier for both sellers and their accountants.
The software automates the synchronization of sales data, ensuring that all information is up-to-date and accurately reflects each platform’s transactions. By doing so, it eliminates many of the tedious manual steps involved in reconciling financial data, which reduces the chance for human error and allows business owners to focus more on scaling their businesses.
Key Features of Link My Books
Link My Books offers several features that address common accounting pain points for e-commerce sellers. Here are some of the most noteworthy:
1. Automatic Transaction Import
Link My Books automatically imports transaction data from Amazon, eBay, and other connected platforms, including details on sales, fees, refunds, and other charges. This automated import feature saves sellers hours of manual entry, streamlining bookkeeping processes and reducing the risk of errors.
2. Real-Time Syncing with Accounting Software
Link My Books integrates with QuickBooks and Xero, ensuring financial data is updated in real-time. This feature provides business owners with immediate access to current financial information, enabling quick insights into performance and cash flow.
3. Multi-Currency and VAT Support
For e-commerce businesses operating internationally, Link My Books offers multi-currency support and VAT compliance. This allows sellers to manage finances across borders seamlessly. The software automatically calculates VAT, helping businesses comply with tax regulations across various regions.
4. Customizable Account Mapping
Users can tailor how transactions are mapped to their chart of accounts in Xero or QuickBooks, allowing them to customize the categorization of revenue, fees, and other items. This flexibility supports businesses with unique accounting needs and ensures transactions are accurately represented.
5. Detailed Financial Reporting
With comprehensive reporting capabilities, Link My Books provides insights into each platform’s sales, fees, and net income. Users can easily access breakdowns by sales channel, offering a clearer picture of their business performance and helping to inform decisions on inventory, marketing, and pricing.
Accounting Software For Ecommerce Sellers
LinkMyBooks
Ecommerce Software with Accounting LinkMyBooks, Whether you’re an e-commerce business or accountant, our software helps get rid of your bookkeeping headache and allows you to focus on growth.
Made in the UK by ex e-commerce sellers and accountants.
Integration with Accounting Software
One of the standout features of Link My Books is its seamless integration with QuickBooks and Xero. This integration simplifies data synchronization, ensuring that all financial records are accurate and compliant. The setup is user-friendly, guided by a setup wizard that walks users through the process step-by-step.
Integration with Xero
Link My Books syncs sales and expenses directly with Xero, creating a reliable financial record that is both organized and accessible. This integration allows sellers to track income and expenses from Amazon, eBay, and other platforms, all in one place.
Integration with QuickBooks
For QuickBooks users, Link My Books offers similar syncing features, reducing the need for manual entry and ensuring financial accuracy. By integrating with QuickBooks, sellers have a complete view of income and expenses, making it easier to handle financial analysis and tax preparation.
Managing Sales Data and Expenses
With Link My Books, e-commerce sellers can easily import and manage sales data across multiple platforms. The software supports various currencies, automates VAT compliance, and accurately categorizes transactions, making sales management and reconciliation straightforward.
Once transactions are imported, Link My Books categorizes them automatically, ensuring that each item aligns with the seller’s chosen chart of accounts. Additionally, users can manage expenses by importing Amazon settlement files, allowing for a transparent view of associated fees, refunds, and expenses.
VAT and Tax Compliance
Tax compliance is crucial for e-commerce businesses, especially those operating internationally. Link My Books helps businesses navigate complex tax regulations by automating VAT calculations for each sales channel. This feature is particularly valuable for Amazon and eBay sellers in Europe, where VAT compliance can be challenging. The software automatically applies the correct tax rates based on each region’s requirements, streamlining compliance and preventing costly errors.
Pricing Plans
Link My Books offers three pricing tiers: Lite, Pro, and Premium. These options cater to businesses of different sizes and needs, with monthly subscription costs at $17, $29, and $56 respectively. For businesses choosing annual subscriptions, Link My Books includes a two-month free trial, allowing sellers to try the platform before making a long-term commitment.
Customer Support and Accuracy
Link My Books is known for its responsive and knowledgeable customer support team, available through email, chat, and phone. Additionally, the platform offers a robust help center and knowledge base, with resources to assist users in navigating the software’s features. The software’s accuracy and automation capabilities ensure that financial transactions are recorded correctly, minimizing errors and supporting compliance with various accounting standards.
Link My Books is the best accounting software for ecommerce business and a game-changing solution for e-commerce businesses that need to streamline their bookkeeping and accounting processes. Its integration with Xero and QuickBooks, automated tax and VAT calculations, and support for multichannel sales make it a valuable tool for sellers worldwide. With real-time syncing and customizable reporting, Link My Books helps sellers save time, improve accuracy, and make informed financial decisions.
For e-commerce sellers looking to simplify bookkeeping, reduce manual effort, and gain accurate insights into their financial performance, Link My Books is an excellent investment. This comprehensive solution empowers businesses to focus on growth, knowing that their financial management is in capable hands.
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