Navigating the Accounts & Taxes page

An overview of the Accounts & Taxes page

Daniel Little avatar
Written by Daniel Little
Updated over a week ago

The Link My Books Accounts & Taxes Wizard is great for getting your account set up quickly and easily, but what if you need to go a little more granular on your setup?

That's where the Accounts & Taxes Mappings page comes in.

On this page, you can drill down into the sub-categories held within our main top-level categories.

Contents of this article

General navigation of the Accounts & Taxes Mapping page

Click the down chevron, as shown below, to expand a category and reveal the sub-categories within:

In this simplified example, if we expand the Amazon Sales top-level category we see the sub-categories:

If we expand the Principal sub-category we see the optional tax groups:

If we expand the Sales shipped to UK (Post Brexit) tax group we see the optional product groups:

The overall hierarchy is as follows:

  • Top-level category (eg. Amazon Sales)

    • Sub-category (eg. Principal, Shipping, Gift Wrap)

      • Optional tax group (eg. Sales to UK, Sales outside UK)

        • Optional product groups (eg. Standard, Reduced, Zero rated)

Making changes to accounts at lower levels

If you need to go into more detail with your chart of accounts and you want to, for example, set a separate account for your Amazon Sales - Shipping this would be done here:

πŸ‘‰ When you make a change to an account (or tax rate) on this page, all categories contained inside the section you change are also affected.

So if we change the account for Shipping, the accounts for the tax groups and product groups below the shipping level will also update:

Making changes to tax rates

‼️IMPORTANT: We strongly recommend against changing any tax rates on this page. Instead, use the Accounts & Taxes wizard.

If you must change a tax rate you should only do so at the very bottom level of any section.

When you see the flat orange bar on a category label you know that you have expanded that section as deep as it goes.

πŸ‘‰ The tax rates assigned at the bottom level are the only ones actually used in your summary invoices created by Link My Books:

As you can imagine with hundreds of subcategories and then many different potential tax groups and product groups, this can easily get very complex.

If you change a tax rate at a higher level then all the tax rates contained in that section will also change.

This is why we recommend that you use the Accounts & Taxes Wizard to make any changes to tax rates.

If you have any questions about this article or feedback on how we could make it better please reach out to the support team via the blue chat icon on the bottom right of the page or via email to [email protected].

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