Link My Books makes it very straightforward to set your account and tax rate preferences using our proprietary tax wizards.
Step-by-step guide with screenshots
Step 1 - Map transactions to an account
We group the many different types of Amazon transactions into 9 main categories.
On the first step, you will assign an account for each category from the dropdown menus or accept our pre-filled defaults below.
(Using our defaults will create them as new account codes in Xero)
Throughout the setup wizard when you see the blue i icon beside something, that means that further clarification is available if you hover over it:
If you'd rather pick your own accounts to use then you can do so via these dropdown menus:
Step 2 - Confirm VAT registration status (UK users only)
Here you will confirm if your business holds a UK VAT registration. We use this information to group your sales accordingly.
Step 3 - Confirm tax rates
At first glance, this may look intimidating but based on the answers you have given so far plus your business location (which we have detected from Xero) we will provide you with a set of default tax rates to confirm.
👉 Tip: Remember when you see the blue i icon more information is available when you hover over it.
Once you have confirmed your chosen tax rates, tick the checkbox and click Confirm to save them.