Link My Books uses clearing accounts when you use other payment gateways via Shopify. To learn more about Shopify Payment Gateways read this help article.
By default Link My Books will generate and assign a new account in your Chart of Accounts for each payment gateway. For most users this is the best option.
⚠️ Selling in more than one currency through the same gateway?
Link My Books can give each gateway a separate clearing account for each currency. This is a paid add-on. Don't create these accounts by hand in Xero or QuickBooks. Email [email protected] and the team can walk you through setting it up.
If however you have migrated from another integration software and you have an existing chart of accounts containing clearing accounts you can use this help document to custom map your gateway clearing accounts.
How to set custom gateway clearing accounts
Select Custom clearing accounts on the Settlement Settings > Shopify Payment Gateways page:
Select the accounts you wish to use for each gateway:
