Ecommerce accounting can be a challenging task for online sellers and accountants, as it involves dealing with various transactions, multiple currencies, and tax regulations. To simplify and streamline this process, Link My Books offers an automated solution designed for Amazon sellers and accountants. In this article, we will explore Link My Books reviews, pricing, and alternatives to help you make an informed decision on whether this software is the right fit for your business.
What is Link My Books?
Link My Books is an automated ecommerce accounting software that simplifies the accounting process for online sellers and accountants. By integrating with Amazon and Xero, Link My Books automates bookkeeping tasks, allowing users to focus on growing their business. The platform is easy to set up and provides a range of features that save time and improve efficiency.
The benefits of using Link My Books for online sellers and accountants include accurate financial reporting, reduced workload, and better organization. By automating bookkeeping tasks, Link My Books helps users save time and minimize errors, resulting in more accurate financial data for decision-making and regulatory compliance.
Link My Books Features
Link My Books offers a variety of features and tools designed to streamline and automate ecommerce accounting processes. Some of its key features include:
Simple integration with Amazon and Xero: Link My Books easily integrates with Amazon and Xero, allowing users to import sales data and automate bookkeeping tasks.
Automated bookkeeping: The software automates the bookkeeping process by consolidating sales data and fees from Amazon settlements into a single journal, which can be automatically posted to Xero or QuickBooks.
Handling multiple currencies: Link My Books supports multiple currencies, enabling users to track sales and expenses in different currencies and convert them to a base currency for accounting purposes.
VAT reporting: The platform provides VAT reporting features, making it easy for users to comply with VAT regulations.
EC Sales list: Link My Books generates an EC Sales list report, which simplifies the process of reporting sales to customers in other European Union countries.
Time-saving solution: By automating bookkeeping tasks, Link My Books saves users time that can be better spent on growing their business or managing more clients.
Pros and Cons of Using Link My Books
Based on the reviews and information provided, here are some pros and cons of using Link My Books:
Easy integration with Amazon and Xero: Users appreciate the simple and seamless integration with Amazon and Xero, making it easy to import sales data and automate bookkeeping tasks.
Time-saving solution: Link My Books’ automation features save users time by eliminating manual data entry and spreadsheet work, allowing them to focus on growing their business.
Accurate financial reporting: The software helps users maintain accurate financial records by automating bookkeeping tasks and minimizing errors.
Comprehensive VAT reporting: Users find the VAT reporting features helpful for complying with VAT regulations.
Excellent customer support: Users praise Link My Books for their responsive and helpful customer support.
Limited integrations: Some users may find Link My Books’ focus on Amazon and Xero limiting if they sell on other ecommerce platforms or use different accounting software.
Pricing structure: Although Link My Books offers a free trial and affordable pricing, some users may prefer a more flexible pricing structure.
Learning curve: While the software is easy to set up, some users may experience a learning curve as they familiarize themselves with the platform.
Limited customization options: Some users may find the customization options in Link My Books to be limited, particularly when it comes to reporting and data analysis.
No mobile app: Link My Books does not currently offer a mobile app, which may be a drawback for users who prefer to manage their accounting tasks on the go.
Link My Books Pricing
Link My Books offers a free 14-day trial, allowing users to test the software before committing to a subscription. Monthly and annual pricing options are available, with discounts and special offers occasionally provided.
Link My Books Reviews
Users have praised Link My Books for its ease of use, quick setup, and excellent customer support. Many have found it to be a superior alternative to other software solutions in the market. The platform is also applauded for its affordable pricing and time-saving capabilities, with some users reporting savings of over 10 hours per month on manual spreadsheet work.
On the other hand, some users have noted that the software’s focus on Amazon and Xero can be limiting if they sell on other ecommerce platforms or use different accounting software. However, overall, the reviews for Link My Books are overwhelmingly positive.
Link My Books Alternatives
Several alternative ecommerce accounting tools are available in the market, each with its unique features and pricing structure:
A2X: A cloud-based accounting software that automates ecommerce accounting processes for Amazon and Shopify sellers. A2X offers similar features to Link My Books but with additional integrations for Shopify. Pricing starts at $19 per month. Visit A2X
QuickBooks Online: A popular accounting software that offers features tailored for ecommerce businesses, such as inventory management, sales tracking, and multiple currency support. QuickBooks Online integrates with various ecommerce platforms, making it a more versatile option for those who sell on multiple channels. Pricing starts at $25 per month. Visit QuickBooks Online
Xero: A cloud-based accounting solution with ecommerce integrations that allow for easy management of sales and inventory data. While Xero is primarily an accounting software, its ecommerce integrations make it a viable alternative for those who require a more comprehensive business management solution. Pricing starts at $20 per month. Visit Xero
SellerActive: An ecommerce management platform that offers automated accounting and financial reporting features for online sellers. SellerActive provides a wider range of ecommerce management tools, including inventory and order management, in addition to accounting features. Pricing starts at $79 per month. Visit SellerActive
Based on the reviews, pricing, and features, Link My Books provides a solid solution for automating ecommerce accounting tasks for Amazon sellers and accountants. Its ease of use, time-saving capabilities, and accurate financial reporting make it an appealing choice for those who want to streamline their accounting processes.
However, the software’s focus on Amazon and Xero may be limiting for users who sell on other ecommerce platforms or use different accounting software. In such cases, alternative solutions like A2X, QuickBooks Online, or Xero may be more suitable.
Overall, we recommend trying the free 14-day trial of Link My Books to determine if it meets your needs. Additionally, exploring alternative accounting tools can help you find the best solution for your unique ecommerce accounting requirements.
In conclusion, Link My Books offers a reliable and efficient solution for automating ecommerce accounting processes for Amazon sellers and accountants. Its ease of use, time-saving features, and excellent customer support make it a popular choice among users.
We recommend trying the free trial of Link My Books and exploring alternative accounting tools to find the best solution for your specific needs. By doing so, you can ensure that you are using the most suitable software for your ecommerce accounting requirements, ultimately helping you save time, reduce errors, and grow your business.