If you're selling on Shopify then you have the choice of taking payments from your customers via Shopify Payments but also a whole bunch of other payment gateways too.
Link My Books now supports all payment gateways on Shopify so regardless of which ones you use, we've got you covered.
👉 Shopify accounts connected before 1st June 2022 will need to activate the other payment gateways via support.
For new Shopify accounts added after 1st June 2022, all payment gateways will be activated by default when you first connect to Shopify. You can disable any payment gateways you do not wish to generate monthly summary invoices for via the Settings > Settlement Settings page on Link My Books.
How do the other payment gateways work?
For each payment gateway you have activated, Link My Books generates a monthly summary invoice for each currency you received payments in via that gateway.
For example, if you are using PayPal and accept payments in GBP and USD, Link My Books would generate one summary invoice per month for your GBP PayPal sales and one summary invoice per month for your USD PayPal sales.
Each payment gateway will have a clearing account of its own automatically created in your chart of accounts which will make it easier for you to reconcile your sales from these payment gateways.
For further information on how Link My Books uses clearing accounts for payment gateway sales and how to reconcile these, please see this article.
👉 If you have any follow up questions after reading this article then please get in touch with support via the blue message widget at the bottom right of this page.