If you are selling a mixture of standard, zero rated or reduced rated goods, then are you using the Product Groups feature in Link My Books?
How can I check if I am using product groups?
Take a look in your Settings tab in Link My Books and then Settlement Settings
If 'Turn on Product Groups' is ticked then you are using the Product Group feature.
Look at this help article for more information on how product groups work.
I’m using Product Groups but my Vat rates don’t appear to be correct, what can I check?
Check that your SKUs are attached to the correct Product Group from the Inventory tab in your Link My Books dashboard
If they aren’t linked to the correct group then you can change them either manually from the Product SKU tab on the above screen shown, and select the correct group, or by using the bulk upload option.
For more information on bulk upload, click here
Note: if you change the product group your SKUs are attached to then your future settlements and any that are ready to send will be updated.
Any that have already sent will not be updated. You can refresh those that have sent and resend, but ensure you have removed the settlement invoice/journal in Xero/QuickBooks to avoid duplicates.
I’m not using Product Groups but my tax rates don’t appear to be correct, what could be the cause of this?
Have you used the default tax rates on set up supplied by Link My Books or have you identified your own tax rates?
You can check the tax rate being used on your settlements from the Accounts and Taxes Mapping option. See this help article on how to navigate the Mappings page.