Mirakl allows you to sell your products across hundreds of marketplaces from one central dashboard. They also integrate with Shopify so that you can import those orders and fulfil them via your Shopify Admin.
Link My books now has built in functionality to be able to separate your Mirakl orders that are imported to Shopify and separate them by the marketplace source.
How does it work?
With this new feature enabled, Link My Books will automatically group your Mirakl settlement summaries by marketplace source.
We'll automatically create tracking codes in Xero for each of the different marketplace sources and then we'll apply those to the relevant lines of the settlement invoice we send to Xero.
Your current account mappings can remain the same, meaning you can still have all Shopify Sales assigned to your chosen sales account etc. as the tracking codes will be doing all the hard work for you.
Hers is what a settlement summary for Shopify would look like:
If we hone in on the detail here you can see that the sales to Sephora UK, Debenhams and Superdrug are all on separate lines in the summary invoice:
The real magic happens when you send the settlement to Xero as then we add a tracking code to each of these lines with the name of the marketplace.
If we punch in we can see that the tracking codes are being applied to each of the different marketplace sources accordingly:
How does it look in your P&L report?
If you run a P&L in Xero, by default it will show all your data together (not split by tracking category).
To run a P&L split by tracking category, follow these steps:
From the Accounting menu, select Profit & Loss in the Accounting Reports section
Select Compare LMB Tracking Codes format from the Common formats menu on the left menu
Choose a Date range for your report and click Update
You should end up with something that looks like this:
Now you can see your figures from each of the different Mirakl Marketplaces shown in their own column.
How do I set up this feature?
For now, this feature is in beta testing, so you'll need to get in touch with our support team and ask them to "enableShopifyChannelSplit". Once we do this then no further action is required on your side.
Your Mirakl sales will be automatically separated by marketplace source and the tracking codes will be automatically created in your Xero account.
With this feature being in beta testing we ask that you report any bugs to our support team should you see them.