Link My Books Tutorial: Elevate e-Commerce Bookkeeping!

How To Use Link My Books - Tutorial And Review - E-commerce Accounting And Bookkeeping Software

Embark on an exciting journey as we explore the wonders of Link My Books in this exclusive tutorial and review.

Join me, Vova Even as I sit down with Daniel Little, the co-founder of Link My Books.

I also welcome you to grab a free trial + 50% OFF for 3 months of Link My Books. Use Link My Books coupon code VOVA20.

Link My Books Free Trial + Coupon Code VOVA20 = 50% OFF For 3 Months

But before that here's a little about me:

I am an Amazon FBA seller with seven years of hands-on experience navigating the complexities of online selling.

My journey involves not just selling but also sharing insights and knowledge.

I'm a content creator on YouTube and Udemy, dedicated to providing valuable Amazon FBA tutorials, tips, tricks, and exclusive coupon codes and deals for fellow sellers.

In addition to my video content, I cater to diverse learning preferences through my Amazon FBA blog.

Here, I craft written versions of my YouTube videos, offering in-depth articles for those who prefer reading over watching.

In this article, we'll unravel the magic of Link My Books – a powerful tool designed to revolutionize your e-commerce bookkeeping and accounting effortlessly.

Imagine a world where bookkeeping becomes a breeze, where numbers align seamlessly, and where your e-commerce transactions effortlessly sync with accounting platforms like Xero and QuickBooks.

Link My Books brings this vision to life!

It's not just another accounting tool; it's your trusted companion in the dynamic world of online selling.

In our detailed conversation, Daniel and I discuss the ins and outs of Link My Books, demystifying the complexities of e-commerce accounting.

This tool isn't just for Amazon sellers; it's a game-changer for anyone navigating the realms of Amazon, eBay, Shopify, Etsy, Walmart, TikTok, and beyond.

If you're someone who prefers reading to watching, you're in for a treat.

I've crafted this article in the same conversational style as our video, ensuring that every piece of information is not just understandable but also enjoyable.

For those eager to witness our conversation firsthand, you can catch the video here:

So, whether you're a seasoned e-commerce expert or just starting your online selling adventure, join us as we dive into the world of Link My Books.

Let's simplify, automate, and elevate our e-commerce bookkeeping game together! 🌟

________________

What's Covered in This Article + Free Trial + 50% OFF*3 Discount

Vova: Hey there!

In this article, we're diving into a complete tutorial on how to navigate through Link My Books.

We'll break it down step by step, keeping it super straightforward, so you can easily follow along.

Click on the button below (or the link here) for an exclusive offer on Link My Books – it's an affiliate link, and you won't want to miss it.

Link My Books Free Trial + Coupon Code VOVA20 = 50% OFF For 3 Months

Use my code "VOVA20" during checkout to enjoy a 50% discount on Link My Books subscription for three months.

Today, we've got Daniel Little, the brain behind Link My Books, guiding us through this tutorial.

We're aiming to make it ultra-helpful for you, (the reader or viewer).

If you have questions, don't worry!

Feel free to drop them in the video comments, and we'll make sure to get back to you.

Meet My Guest: Daniel Little

Vova: Alright, Dan, over to you – what's up?

Hope it's a good day on your end!

Daniel: Hey, Vova!

How's it going?

Thanks for having me back.

Vova: All good, man.

Ready to delve into another insightful tutorial, hopefully.

Let's lend a hand to our viewers and readers alike.

Daniel: Absolutely.

Let's automate their accounting game.

Vova: Perfect, man.

Let's dive in and see how it all works.

Some folks might be facing technical hiccups, you know?

I'm hoping this article will clear things up so they can smoothly navigate the process.

Daniel: Absolutely.

How Link My Book Works

Daniel: Alright, so here we are in a demo account within Link My Books.

I want to kick off by taking you through the final steps of the process.

Picture this: you've successfully linked your Amazon account and, in this instance, a Xero account.

However, it's worth noting we also seamlessly integrate with QuickBooks and other platforms like Shopify.

Assuming you've got all your connections sorted and the initial setup is in the bag, let's explore the nitty-gritty.

How does it work, and what exactly does it do?

After this, we can explore how to add a new account and walk through the setup to ensure we have a comprehensive understanding of the entire process.

Firstly, we find ourselves in the Settlements dashboard – the central hub of all the action.

This is where the magic unfolds.

Whenever a payout rolls in from a sales channel, such as Amazon, we carefully gather all the essential details that constitute that payout.

This includes sales, refunds, fees, and notably, taxes and VAT.

We'll simplify everything into a neat, summarized entry that seamlessly transfers to the bookkeeping system.

Take, for instance, this specific entry of £30.43 for the payout period spanning from August 9th to August 23rd.

When we delve into the details by clicking on the "View" option from the "Action" drop-down, we find a mix of Amazon transactions, encompassing sales, refunds, fees, and taxes.

Our approach involves consolidating all these elements, bundling them together, and assigning the respective amounts to a designated account in the customer's chart of accounts.

Simultaneously, we ensure the accurate application of the correct tax rates, guaranteeing precise tax payments for each payout.

The sum of all these transactions, in this case, amounts to £30.43.

The significance of this will become clearer when we proceed to transmit this data to Xero.

Let's put this into action.

To transmit one of these summarized entries to Xero, you've got two straightforward options.

You can do it right from the Action menu here, which is what we'll demonstrate shortly.

Or, you can take a slightly automated route.

Head over to Settings, then Settlement Settings, and then turn on Automation.

This way, you can specify whether you want to post settlements automatically from a particular date onward.

If you prefer posting only for a specific month, you can define a start and end date.

The usual approach for many is to manually transmit a couple, ensuring they're satisfied with the results and that their accountant gives the green light.

Once everything checks out, they often switch on the autopost feature backdating to when they completed their manual bookkeeping, let's say, on the 1st of September.

From there, it's as simple as leaving it turned on.

So, in practical terms, this implies that we're posting everything starting from the 1st of September onward, including any new entries.

However, for the sake of today's demo, let's manually send this one across.

A simple click on "Send to Xero," and off it goes – transmitted seamlessly to Xero.

And just like that, it's on its way to being processed in Xero.

Excellent, now it's labeled as "Sent."

Taking a look at the final step, consider this scenario: the seller has received a payout of £30.43, and we've successfully dispatched that summarized entry to Xero.

The last step involves hopping over to Xero to reconcile it on their bank statement.

In fact, I've already got Xero open here; I'm using a test Xero account for demonstration purposes.

Before I dive in, let me show you this page first.

You can see the payment coming in for £30.43.

At the moment, it's not paired with anything because, until this point, nothing had been sent.

Now, if we hit Refresh and scroll back down to this specific entry, you'll notice that the £30.43 is seamlessly and automatically matched against the invoice we've generated.

It's a breeze from here – just click "OK" in the middle, and there you have it, job done.

The accounting for that payout is squared away.

Now, the real magic unfolds as the data we've sent over takes its course.

If we want to take another peek, we can easily view the invoice on Xero straight from the Action menu – a quick and convenient way to access it.

Everything is neatly sorted out – we have an invoice for £30.43, with each transaction accurately assigned to the right accounts and corresponding tax rates.

The VAT has been calculated carefully; for instance, in this case, since it's a UK customer, it's VAT.

It's worth noting that our system also seamlessly supports GST for Australia and sales tax for the US.

Moreover, the payment has been precisely allocated, thanks to the matching process on the bank statement.

The beauty of it all is that it happens automatically; no manual intervention required on their part.

They get a payout from Amazon, and we seamlessly take care of the entire processing, ensuring the transactions find their way to the accurate sections of the bookkeeping.

What used to be a time-consuming task, taking hours every month to decipher and balance everything, has now been distilled down to just a couple of clicks.

Within Xero, after you've transmitted all this data, it naturally integrates into your profit and loss or income statement.

To demonstrate the capabilities of Link My Books, I've filled this with some made-up data from different channels.

Let's imagine our seller operates on multiple platforms, including Amazon, Shopify, the upcoming addition of SquareUp Sales, and even TikTok. 

So, it compiles various sales and refunds, each with its corresponding cost of goods sold, alongside a breakdown of different fees.

Additionally, it provides a clear snapshot of profit after tax and profit before tax.

This setup streamlines the process for you and your accountant, offering easy access to all the necessary information for your bookkeeping needs.

Moreover, it's 100% accurate, providing assurance that you're accounting for things correctly and meeting your tax obligations.

Now, let's head back into Link My Books.

While we're still on this "View Settlement" page, we can delve into an analysis specifically tailored to this payout.

Reviewing your profit and loss in Xero covers all your data from various channels, but what if you just want to focus on a specific payout, comparing it to your last one?

I also welcome you to grab a free trial + 50% OFF for 3 months of Link My Books. Use Link My Books coupon code VOVA20.

Let's say you're interested in assessing your last two-week growth with Amazon.

That's where this feature comes into play.

Here, you can observe that you had £118.42 in sales, marking an increase of £11.85 compared to the last payout.

The refund ratio stands at 2.81%, a valuable metric to gauge – keeping an eye on refunds as a percentage of your sales.

Notably, it's down by 6.5% compared to the previous month.

Certainly, looking at these figures, a small percentage might not raise alarms.

However, if someone's dealing with £10,000 in sales, the refund percentage would change less month to month, allowing them to investigate potential reasons behind fluctuations.

Alongside this, you get insights into your average order value, profit, profit margin, and return on investment (ROI) percentage.

Additionally, there's a mini P&L statement tailored specifically for this analysis section.

This feature is relatively new for us, and we're in the process of expanding its capabilities.

As we move forward, the next step in our journey involves introducing comparisons not just for one payout versus the last, but also monthly, quarterly, and annually.

This way, you'll be able to scrutinize your performance on a more comprehensive scale, breaking it down into each month, quarter, and year.

You can then extend this capability by importing data from all your channels.

While we're currently viewing our Amazon account, you can seamlessly connect various channels to this platform.

Consider having Amazon, Shopify, eBay, Etsy, TikTok shop, and Walmart, and with upcoming additions like Square, and WooCommerce, the possibilities for channel connections are diverse.

For those who operate as omni-channel sellers, the beauty lies in connecting all your channels seamlessly.

This not only enables the automation of your bookkeeping by effortlessly funneling everything into your bookkeeping system but also opens up the possibility of conducting in-depth analytics right within the tool.

So, in a nutshell, that's what Link My Books is all about.

When you receive a payout, we take care of processing that information and seamlessly transmit it to Xero or QuickBooks.

The best part?

It effortlessly aligns with the deposit in your bank account, making the reconciliation of your sales deposits an absolute breeze.

This not only ensures accurate payments but also sets you up for precise VAT and tax returns.

So, breaking down what the tool does, that's the gist of it.

How to Add a New Account to Link My Books

Daniel: Now, when it comes to adding a new account and such, it's similarly straightforward.

If I were to add a new account, let's say TikTok shop, for instance, here's how simple it is:

I'll simply click on the side hamburger menu and select "Add New Account."

Click on "TikTok Shop."

I'd name it something like "TEST TTS1," connect it to TikTok, and proceed to authorize the connection.

During this, it might request permission access – I usually opt for unlimited access to avoid the hassle of renewing it periodically.

Next up, I'll enter my email address, hit "OK," and confirm the installation.

After this, I'll proceed to approve the necessary permissions for accessing the store.

Once that's done, Link My Books takes me back, and voila, TikTok is seamlessly connected.

From here, as you can see, I have the option to link either a Xero or a QuickBooks account.

Since I already have them connected, I'll just reconnect my demo Xero – a quick confirmation, and we're good to go.

And there you have it – successfully connected!

Now, it guides you through the Setup Wizard.

In my case, it's detected that I'm a UK-based business, thanks to my Xero account.

Of course, if you're in Australia or the US, you might see a slightly different version, but the core principles remain the same.

I'll proceed by indicating that I'm a UK VAT-registered business.

I'll click "Next," and it'll present the various types of transactions specific to TikTok.

We've neatly categorized them into revenue, expenses, and so on.

These are suggested accounts that we recommend for your chart of accounts.

If you've already been managing your TikTok accounting with an existing chart of accounts, fear not – we've imported your chart of accounts from Xero.

Now, you have the flexibility to select whichever accounts suit your needs.

For the sake of this demonstration, I'll stick with the default settings.

If you're a new customer and opt for the defaults, what happens is we seamlessly integrate them into your chart of accounts in Xero as additional accounts.

No alterations to your existing ones; we simply add these in as extras.

I also welcome you to grab a free trial + 50% OFF for 3 months of Link My Books. Use Link My Books coupon code VOVA20.

Clicking "Next," and that's good to go.

It seems I might have initially set this up as a US account, so normally this would auto-fill.

Now, let's proceed with the account setup.

Since I'm identified as a UK VAT registered business based on Xero, I'll confirm that I am indeed a UK VAT registered business.

If you were operating as a US or Australian business, the setup might appear a bit different – tailored to either an Australian or US configuration.

However, the process is quite similar.

In my case, I'll stick with the UK VAT business option and click "Next."

On this page, you'll find a comprehensive list of various transaction types on TikTok, neatly categorized.

We also recommend a default set of accounts for your convenience.

If you opt for these defaults, they seamlessly integrate into your chart of accounts, sitting alongside your usual accounts.

Yet, if you prefer, you can handpick a different account from the ones we've imported from Xero or QuickBooks. 

If you've been managing your TikTok sales accounting using a specific chart of accounts – whether it's your own or set up by your accountant – and you want to stick with it, you can certainly do so.

Many folks simply go with our suggested defaults, and if you do, we seamlessly include them in your chart of accounts.

Clicking "Next," and since I'm a UK business, I'll specify whether I sell only standard-rated goods for UK VAT or a mix of standard, zero-rated, and reduced-rated goods.

For this test, I'll choose "I only sell products that are Standard Rated for UK VAT."

But we can manage different categories like food and baby clothes too.

Clicking "Next," and all the tax rates are automatically filled in using the details we've gathered during the setup and from Xero.

It's a breeze – the tax rates are all set and ready to go.

Just a quick confirmation by accepting the responsibility of being accurate with these tax rates and clicking the "Confirm" button, and there you have it – your account is now fully set up.

As this is just a demo for TikTok, there are no settlements to display.

However, at this stage, you would typically land on the primary settlement dashboard.

It resembles what we've already covered in our discussion.

That's the process of adding a new account and navigating through the setup wizard.

We've also delved into the tool's general overview.

Link My Books Dashboard

Now, let's explore some additional features.

In the "Accounts & Taxes" menu, you'll find the "Accounts & Taxes Wizard," which essentially mirrors the setup wizard we recently explored, so no need to revisit that.

However, the noteworthy thing here is the first option "Accounts & Taxes Mappings."

This is where you'll find all the mappings you selected during the wizard – a comprehensive list of different accounts and their associated tax rates.

It's crucial to emphasize that on this page, I never recommend editing tax rates directly on this page.

It's always best to use the wizard for that task because altering a tax rate here has a ripple effect, impacting all the subcategory types.

Furthermore, as you delve deeper, you might notice certain tax rates changing based on the specific country destination of the sales.

Therefore, it's far more efficient and uncomplicated to make edits using the wizard instead of attempting changes here.

Here, though, you do have the option to modify accounts.

So, if you find the need to switch accounts without altering any tax rates, perhaps opting for some new accounts, you can seamlessly make those adjustments.

A couple of instances where this comes in handy is when we amalgamate all sales, but some sellers prefer to distinguish shipping revenue.

For them, having a separate shipping account is essential, and they might allocate shipping expenses accordingly.

It's all about tailoring your setup to suit your preferences.

Moving on to the "Inventory" menu, specifically in "Inventory Values," this is where we essentially capture a snapshot.

This feature is specific to Amazon.

When dealing with Amazon, we navigate between Fulfillment by Amazon (FBA) and Fulfillment by Merchant (FBM).

For the FBA aspect, we're able to retrieve a report from Amazon detailing the quantity of each SKU or item in storage at the end of each month.

Subsequently, we compile this information into a comprehensive report.

Since this is just a demonstration account, there's no actual data here.

However, in a live scenario, at the close of each month, you'd obtain an approximate value of your inventory.

This value is derived from the costs you've input into our system (we'll cover that shortly) and the quantity of each SKU you currently possess.

Once generated, you can download and view this report, obtaining detailed insights into the items stored in Amazon and their respective values.

This information proves invaluable when liaising with your accountant, especially towards the end of the year, as it aids in determining the amount of inventory to carry forward into the next fiscal year.

Now, shifting our focus to "Product Costs," the subsequent option on the menu.

Here is where you input the costs associated with each product.

This section serves two primary purposes:

Firstly, it contributes to the accuracy of your inventory values, and secondly, it supports the functionality of our cost of goods sold tracking option, which I'll elaborate on shortly.

You have the flexibility to enter these costs directly on the page, modify the currency as needed, or alternatively, opt for the convenience of bulk uploading.

You also have the option to download a CSV file, input all the costs there, save it, and then effortlessly upload it here.

Furthermore, we've included a handy toggle that filters and displays only those products with no associated costs.

This is particularly useful if, for instance, you recently updated costs for some products and want to focus on those that are new or haven't been updated.

This feature is particularly beneficial for UK customers dealing with a variety of products with distinct tax rates.

In the UK, you encounter standard-rated goods, reduced-rated goods, and zero-rated goods, each with its own tax rate.

So, if you're managing a mix of products with different tax implications, the "Product Groups" option becomes especially relevant.

It allows you to categorize and handle various products according to their specific tax rates, streamlining your accounting process.

Amazon and Shopify make life easier by automatically categorizing products according to their respective tax rates.

However, for platforms like eBay and Etsy, and others, we employ product groups.

This feature empowers you to specify the product group, ensuring the accurate application of the corresponding tax rate.

I also welcome you to grab a free trial + 50% OFF for 3 months of Link My Books. Use Link My Books coupon code VOVA20.

In essence, product groups serve the purpose of aligning your products with the correct tax rates.

With that, we've covered the inventory menu.

Within the "Settings" menu under "Account Settings," you'll find the connections to Amazon and Xero.

If, for any reason, these connections are disrupted, you can easily re-establish them in this section.

The second option is "Settlement Settings."

We've briefly touched on it before, particularly the automation tab.

Now, moving in order, let's glance at "Transaction Grouping."

Generally, there's little need for adjustments in this section.

Now, let's delve into the "Cost of Goods Sold," a topic we've mentioned earlier.

The "Cost of Goods Sold" feature complements the funds deposited by Amazon, which encompasses your sales, refunds, fees, and taxes.

It essentially factors in the expenses related to the products sold.

This aspect is integral to comprehensively capturing your financial transactions.

Now, consider the other side of bookkeeping.

While we've covered the funds received from Amazon, it's crucial to address the expenses tied to your inventory.

Let's illustrate this with an example: imagine you run a business that deals in pens.

Initially, you purchase 100 pens.

The moment those pens are sold, that's when the associated costs come into play.

Now, let's delve into how this process unfolds.

If, for instance, you sell 10 pens, your inventory is impacted – you are left with 90 pens instead of the initial 100.

But simultaneously, you gain revenue from these sales.

Link My Books is designed to assist you in managing both aspects seamlessly.

Here's how it works: as you make sales and the payouts are sorted out, we track the number of each product sold.

This way, we can shift the financial value of those products from your inventory to your cost of goods sold.

All you need to do is specify the accounts you want to use for inventory (Asset Account) and cost of goods sold (Expense Account).

Next, you'd activate this feature.

Let me briefly show you a settlement to illustrate.

If we revisit the one we sent and review it, you'll see the "Cost of Goods Sold" tab.

Here, you can see a list of various products sold, and for the sake of this demo, I've assigned an imaginary price of 1 each.

Therefore, the sum of all the sold products was £26 in inventory value.

Consequently, Link My Books automatically transfers this £26 from the "Inventory Account" to the "Cost of Goods Sold" account within your accounting system.

We can actually observe this in action by viewing it on Xero.

To illustrate, it deducted £26 from the Inventory, simultaneously adding £26 to the Cost of Goods Sold account.

This adjustment signifies a reduction in inventory and an increase in the cost of goods sold on your profit and loss report.

In essence, it accurately reflects the products sold and their associated costs in your accounting system.

Thus, with this setup, you've automated the cost of goods sold process.

Again, to do this, go to the Settlement Settings menu and activate the Cost of Goods Sold (COGS) feature.

Once enabled, specify the inventory account for deduction and the cost of goods sold account for adding the associated costs.

In addition to this, make sure to input your product costs on the dedicated "Product Costs" page (distinct from the Cost of Goods Sold).

Set the status for sending settlements to Xero; typically, users prefer leaving it as "Approved."

However, you can choose "Draft" or "Submitted for approval" if you wish to review them in Xero before finalizing the entries.

Moreover, the "Default" status is now set to "Approved" for sending settlements to Xero, streamlining the reconciliation process.

While you do have the flexibility to choose "Draft" or "Submitted for approval" if you prefer a preliminary review in Xero, sticking with the default "Approved" has proven to be more convenient for most users, facilitating smoother reconciliation.

We've covered automation in detail, automating the posting of data to Xero and QuickBooks effortlessly.

Now, let's delve into "Tracking Codes" or "Tracking Classes," a feature we support in QuickBooks.

This functionality allows you to assign distinct tracking codes for various marketplaces, such as Amazon UK.

As you connect additional platforms like eBay, each can have its separate tracking code for streamlined organization.

Moreover, this feature enables a detailed breakdown in your profit and loss statement within Xero.

You can effortlessly segregate and analyze your profitability on a per-marketplace basis.

This provides valuable insights into the performance of each marketplace, helping you identify your most lucrative avenues and make informed business decisions.

I also welcome you to grab a free trial + 50% OFF for 3 months of Link My Books. Use Link My Books coupon code VOVA20.

Therefore, this functionality equips you with the strategic advantage of assessing your efforts and investments across different marketplaces.

For instance, if you're dedicating considerable resources to expand in Germany but realize that the UK and the US are the primary sources of your profits, it might be wise to reconsider your strategy.

This data empowers you to redirect your focus and resources towards the more profitable markets and optimize your growth potential.

So this is, to sum up, "Settlement Settings."

Moving on to "Additional Users," it's a straightforward process – simply incorporate a new user.

Provide a name, assign an email, and designate a role from the available options.

It's as uncomplicated as that.

Wrapping up the menu, we have "Notifications."

You have the option to receive a notification each time a new settlement is received.

Regarding notifications, you have the flexibility to receive alerts when a settlement is dispatched to Xero, in case of any errors.

Additionally, there's an option for marketing emails.

Although, it's worth noting that many users opt to disable these notifications over time.

Continuous emails for every payout and transfer can become overwhelming, especially if your payout frequency is high.

So, that pretty much sums it up.

We've covered Link My Books inside and out.

Do you have any questions?

Vova: Yup!

Is It All a Part of Free Trial?

Vova: Is this included in the free trial?

I might have missed that detail earlier.

I do have a free trial offer of Link My Books for my followers, and there's a discount as well.

Link My Books Free Trial + Coupon Code VOVA20 = 50% OFF For 3 Months

Use my code "VOVA20" during checkout to enjoy a 50% discount on Link My Books subscription for three months.

But if someone signs up for the free trial, does that cover everything, or are there some things not included?

Could you break it down a bit for me?

Thanks!

Daniel: Absolutely, Vova. Let me break it down for you.

The free trial period for Link My Books typically spans 14 days.

During this time, users, like yourself with the demo company, can access all the features we've covered so far.

However, there's a limitation during the trial – you can only review a maximum of three months of data.

It allows you to look back three months in terms of the dates and data that are imported.

This trial period is intended to let users explore the tool comprehensively and see how it fits into their workflow.

When you initially connect Link My Books to a sales channel, we automatically bring in the last 90 days' worth of payouts from that channel.

It's important to note that during this import stage, nothing is immediately sent across to Xero or QuickBooks.

This gives you a chance to review and organize the historical data before any further actions are taken.

Once you've organized and reviewed your historical data within Link My Books, you'll need to set up how you want it to be sent over to your accounting software.

If you need more than the initial 90-day import, you can click on the "Learn more here" button at the bottom.

This will guide you to a helpful article explaining that to access extended features, you'll need to have a paid subscription plan with us.

Based on the plan you opt for, you can extend the historical data import up to two years.

This feature is useful if you need to catch up on bookkeeping or make corrections for the past two years.

Beyond this, during the 14-day trial, you have unrestricted access to Link My Books, with no limitations on functionalities.

You can add numerous channels and access historical data for up to three months.

After the trial concludes, you can choose to subscribe and continue enjoying Link My Books.

If you opt not to subscribe, your account will be temporarily paused, with no further imports or data transmissions to Xero or QuickBooks.

If you decide to subscribe, your account remains active.

However, if you choose not to continue your subscription, after a grace period, your account will be permanently deleted.

Simple as that. :)

How to Add Link My Books Coupon Code + Pricing Review

Vova: That makes sense.

So, how does one subscribe, and is there a place to apply the discount code?

Daniel: Good question!

To subscribe, simply navigate to the "Account" menu on the top right-hand side.

Click on the hamburger icon.

There are various options as you can see.

You can add new accounts, look into the already connected sales channels, visit the help site, or logout.

But, to subscribe or apply a discount code, you'll want to focus on the Billing section.

By clicking on it, you'll access the page where you can manage your subscription.

Note that this feature works seamlessly, as demonstrated in a different account I have set up.

Now, when you navigate to the billing page, especially if you're a new customer, it provides a snapshot of your current account status and the count of sales channels linked.

In this case, it's a fictitious account, but for your situation, the plan might vary based on your order volume.

Suppose, for instance, you're handling just under a thousand orders monthly.

Therefore, if you fall within the range of 200 to 1000 orders and have a single sales channel connected, the monthly cost, including VAT for UK users, would be £31.20.

This subscription covers up to 1000 orders and includes one sales channel.

Now, if your order volume is slightly higher, ranging from 1 to 5000 orders,

You've got expanded to four sales channels.

In this scenario, the cost, including VAT for UK users, would be £58.80 per month.

This subscription accommodates up to 5,000 orders and includes five sales channels.

Additionally, you can choose a billing period of up to 12 months.

When you decide to subscribe, simply click on "Have a coupon."

Enter your coupon code, "VOVA20."

Vova: It would entitle you to a 50% off offer for three months.

Daniel: Right! So that would activate a 50% discount for three months on any monthly plan.

Once you subscribe to that, it'll bring down the price for the initial three months, and then you'll transition to the regular rate.

It's important to note that this discount doesn't apply to annual subscriptions.

So, with the annual plan, you essentially get 12 months for the price of 10 on the monthly plan.

If you have a coupon, my suggestion would be to start with the monthly plan, enjoy the first three months at a discounted rate, and then later switch to the annual plan.

This way, you can make the most of the coupon benefits.

Now, let me just display the pricing for our customers in the US and other regions.

For the first plan, handling between 200 and 1000 orders, it will be $35 per month.

Keep in mind that this price doesn't include taxes or VAT since it's for US customers.

As for the higher-tier plan we discussed earlier, it's priced at $65.

Additionally, we provide pricing in Australian dollars, ensuring you see the appropriate rates based on your location.

Depending on your country, say Australia, you'll be presented with the corresponding pricing in Australian dollars.

This approach ensures clarity for users across different regions.

When you delve into your subscription section, you'll notice that UK pricing incorporates a 20% VAT, which can be reclaimed by customers through the HMRC.

This actually makes the UK pricing more advantageous.

And remember that before subscribing, you can simply apply the coupon code within Link My Books.

Vova: Right! The coupon becomes accessible on the pricing page after our connection is established.

Prior to the connection, it won't be visible.

Is that correct?

Daniel: Absolutely.

Vova: But within the software, once users are satisfied with the free trial and wish to continue, they have the option to apply the coupon for a 50% discount over the initial three months.

After that, they can choose between paying annually or continuing with the monthly subscription.

Daniel: Absolutely.

So, the software is a significant component, and customers generally appreciate it.

If you go through our reviews on various app stores such as the App Store and Shopify App Store, you'll find valuable insights.

Link My Books Help Center

Daniel: Now, beyond the software, there's another crucial aspect.

It delves into our customer support team, composed of accountants well-versed in e-commerce and Link My Books.

You can easily reach out to them via the chat option located at the bottom right-hand side.

While our help articles offer excellent step-by-step guidance, sending us a direct message is another avenue for assistance.

If you ever need personalized support, our team is ready to help.

Thus, you simply select the relevant topic for your message, and you can engage in a chat with one of our accountants from the team.

They're accessible during regular business hours from Monday to Friday.

Typically, you can expect a response within an hour, which is our usual turnaround time.

If you have questions or need assistance, our team is prompt and ready to help during the standard workweek.

Vova: Perfect!

Free Onboarding Facility

Vova: Also, correct me if I'm wrong, but I believe there's free onboarding included with the trial.

So, when users sign up, they have the opportunity to schedule a call with your team, and they'll guide them through the process, right?

Daniel: Absolutely.

I believe you can even schedule that meeting directly through this platform.

Throughout your trial, you'll receive emails from us, and at the bottom of those emails, you'll find a link that says, "Claim your free one-to-one onboarding session."

You can schedule a session with one of our accountants who will conduct a Google Meet with you.

Together, you'll go through the setup, ensure all connections are in place, and send the necessary information to your bookkeeping platform.

The accountant will make sure you're comfortable with the process, guide you on reconciliation, and follow up via email to ensure everything is working smoothly.

Vova: Great, it seems like we've covered everything.

I've mentioned all the relevant links within the article, such as the free trial, the coupon code, and any videos.

If you're interested in learning more about common bookkeeping mistakes, it could be quite insightful.

Did we miss anything?

We've discussed the software, the connection process, and all the offers.

Anything else you'd like to add, Daniel?

Daniel: No, I don't think so.

Complications of Bookkeeping

Daniel: It's essential to understand that many people believe they're handling their bookkeeping correctly by entrusting it to their accountants.

However, e-commerce accounting is genuinely complex.

There are numerous intricate components involved, with various taxes in play, and sales occurring across multiple platforms.

Unless you have a dedicated e-commerce accountant who comprehensively understands these dynamics, it's advisable to sign up for a trial.

Compare the results of your last three months' data with what we generate to assess any differences.

I emphasize this because a significant 75% of customers approaching us discover past mistakes that have cost them money.

Utilizing dedicated software is a valuable solution.

It's noteworthy that many e-commerce accountants also leverage our software for their services.

Indeed, many prominent players in e-commerce accounting, such as E-commerce Accounting and Passive Tax, rely on Link My Books behind the scenes.

It stands as a reliable and effective piece of software.

Vova: Fantastic!

Thank you for spending your time with us today.

We've delved into everything, but if there's anything we missed or if viewers or readers have questions, feel free to drop them in the video's comments.

We'll make sure to respond and address any queries.

It seems like we've covered all the bases, and I'm pleased with that.

So, yeah, it's been great.

Daniel: Thank you very much, indeed.

________________

Conclusion

In conclusion, we've covered a lot today about Link My Books.

I also welcome you to grab a free trial + 50% OFF for 3 months of Link My Books. Use Link My Books coupon code VOVA20.

Link My Books is like the superhero of e-commerce accounting, helping us navigate the complicated world of numbers and taxes.

Daniel shared some fantastic insights, and it's clear that good bookkeeping can save us money.

The free trial and discount make it a no-brainer to give it a shot.

Link My Books Free Trial + Coupon Code VOVA20 = 50% OFF For 3 Months

The support team is there to help, and it's great that they have free onboarding too.

So, if you're serious about your e-commerce business, give Link My Books a go.

It's been a helpful chat, and I'm feeling more confident about my bookkeeping now.

Cheers to Daniel for sharing his wisdom! 🚀

Best, 

Vova :)