Link My Books FAQ For Accountants & Bookkeepers - Accounting And Bookkeeping Automation Software

Vova Even Oct 19, 2024

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Table of Contents

How Does Link My Books Handle the Transition from Monthly Accounting to Payout-Based Accounting?
What Support Can I Expect During the Transition?
How Does Link My Books Help with International Tax Complexity?
How Much Access Should Clients Have?
Have More Questions?

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When it comes to using accounting and bookkeeping software, many accountants and bookkeepers often have similar questions.

It’s only natural, as they want to ensure they are making the right decisions for their businesses and clients.

In my recent conversation with Daniel Little, co-founder and CEO of Link My Books, we discussed some of the most common questions that professionals in this field ask.

Daniel frequently hears these questions from both new and experienced users of Link My Books.

They often revolve around understanding how the software works, how it integrates with different platforms, and what benefits it brings to everyday accounting tasks.

These are concerns that come up repeatedly, and many of you reading this may have wondered about the same things.

To help clear things up, Daniel addressed these popular questions during our discussion, providing helpful insights for both new users and those looking to get more out of the software.

In this article, I’ll dive into the key points from my conversation with Daniel, focusing on the most common questions about Link My Books.

If you've been curious about how the software can work for you, or if you're a bit hesitant about how it fits into your current workflow, this should help.

We’ll explore the answers Daniel shared and give you a clearer understanding of how this tool can simplify your bookkeeping and accounting processes.

How Does Link My Books Handle the Transition from Monthly Accounting to Payout-Based Accounting?

One of the most common questions Link My Books receives from accountants and bookkeepers relates to moving from a monthly accounting process to a payout-based one.

Many professionals download monthly statements from their sales channels and account for transactions at the end of each month.

The transition to a payout-based system might seem complicated, but Link My Books simplifies it.

The software automatically splits any payouts that span across two calendar months.

For example, if a payout covers both April and May, Link My Books will divide it into two separate parts: one for April and one for May.

This ensures that no transactions are double-counted.

If you’ve already handled your April accounting, you can move forward with May seamlessly, knowing that everything is organized properly.

What Support Can I Expect During the Transition?

Another important point is the level of support available during the transition to Link My Books.

Whether you’re moving from another software, using a manual process, or relying on spreadsheets, Link My Books provides personalized assistance to make the switch as smooth as possible.

Their support team is dedicated to guiding you through every step until the process is fully automated and running efficiently.

Once you’ve completed the transition, Link My Books takes over, simplifying your bookkeeping tasks.

By the way, here is the most comprehensive video about mastering Link My Books software on my YouTube channel.

Whether you are an accountant or bookkeeper, I highly recommend watching this video.

How Does Link My Books Help with International Tax Complexity?

Another frequent question is about tax rates.

Accountants are usually experts in domestic tax laws, but when it comes to e-commerce, things can get complicated due to international orders and tax regulations.

Link My Books recognizes this challenge and has developed a solution to ease the burden.

The software offers sensible default tax rates based on international standards.

While it’s still your responsibility to ensure that the correct tax rates apply to each specific client, Link My Books makes the process easier by offering these pre-set options.

If you ever need help fine-tuning the tax settings, the support team is available to assist with ensuring that everything is set up correctly for your client’s particular situation.

Now, if you need more detailed insights on Link My Books, their blog is the best place to go, and you can access it from the button below:

How Much Access Should Clients Have?

Accountants often wonder how much access their clients should have to the system.

With Link My Books, you have full control over this.

If you prefer your client to simply connect and then be removed from the system, that’s entirely possible.

However, most accountants allow their clients to remain on the account so they can view settlements, financial analytics, and benchmarks.

By default, clients cannot change any settings, so there’s no risk of them accidentally altering anything you’ve set up.

This provides peace of mind, knowing everything will stay just as you configured it.

Link My Books A-to-Z Tutorial: Link My Books Tutorial: Elevate e-Commerce Bookkeeping!

Have More Questions?

If you have any other questions that weren’t addressed here, feel free to reach out.

You can contact the support team directly, and they’ll be happy to assist you.

Or, if you’re looking for more details, you can check the buttons below to find helpful resources.

In conclusion, whether you're an accountant, bookkeeper, or an e-commerce seller, Link My Books offers practical solutions to simplify and improve your accounting processes.

With its easy-to-use features, the software can help you manage payouts, streamline bookkeeping, and deal with complex international taxes.

It’s designed to save you time and reduce errors, making it easier for you to grow your business or handle more clients with confidence.

If you're an e-commerce seller — whether on Shopify, Amazon, or any other platform — Link My Books can still be a valuable tool to connect your store with accounting software like Xero or QuickBooks Online.

To learn more about how to use it, check out the tutorial below, where Daniel walks through the setup and usage process.

For accountants and bookkeepers, there’s a dedicated tutorial that demonstrates how to use Link My Books for managing client accounts.

It’s perfect for small and large firms alike, offering features that could help you improve efficiency and take on more clients while maintaining accuracy in your work.

Whatever your role, Link My Books can help you simplify your bookkeeping and stay on top of your finances.

Here’s to smoother accounting and more time for what matters most in your business.

Enjoy your day, and may your sales continue to grow!

Table of Contents

How Does Link My Books Handle the Transition from Monthly Accounting to Payout-Based Accounting?
What Support Can I Expect During the Transition?
How Does Link My Books Help with International Tax Complexity?
How Much Access Should Clients Have?
Have More Questions?