If you’re an A2X customer, you probably at the time you had no other alternative to get your Amazon settlements into Xero, yet you may have felt reluctant due to their rather expensive subscription fees. Luckily for you Link My Books is here now to shake things up a bit!
Link My Books versus A2X
Link My Books offers a like for like alternative to A2X with some further added enhancements that may save you money on both your subscription cost and potentially your taxes too!
Here are 4 reasons why you should move from A2X to Link My Books:
Save an average of over 50% on your subscription costs1 whilst gaining additional functionality.
MIGRATE IN MINUTES
Use our free migration service which takes just 15 minutes.
PAYS FOR ITSELF
Link My Books should pay for itself by reducing unnecessary overpayments of VAT.
Designed with UK businesses in mind, with easy to follow wizards for both PAN-EU and UK VAT.
Link My Books should pay for itself by reducing unnecessary overpayment of VAT
The team at Link My Books are happy to provide users with technical assistance in applying tax rules to their Link My Books setup. We are not Tax Advisors and so our advice and suggestions on the application of tax rules cannot be construed as tax advice. We highly recommend that users seek advice from qualified accountants for their tax compliance.
Not only may you be overpaying your A2X subscription fees, you may also be overpaying your UK VAT too. This is due to the complexities of EU VAT and Amazon’s various legal entities combined with the tedious setup within A2X.
For example, did you know that since October 2018 sponsored ads for the amazon.co.uk marketplace have been invoiced from Amazon Online UK Limited and have had UK VAT at 20% applied to them? This means that UK based sellers should be accounting for and reclaiming that VAT. If you have a marketing spend of £1,200 per month that’s £200 saved!
Link My Books allows you to set one tax rate for the Amazon.co.uk sponsored ads costs and another tax rate for the other EU marketplace sponsored ads in just 2 clicks!
Also, did you know that if you ship a sale to outside of the EU then these sales are outside the scope of VAT and therefore Amazon won’t charge the customer VAT2? With LMB we allow you to create country groups to see where your sales are going and to set separate tax rates based on those groups. This means that you could make further savings in VAT you would have otherwise paid unnecessarily. If you have Non-EU sales of £600 per month that’s another £100 saved!
Lastly, did you know that if you are using Amazon’s PAN-EU program and have sales from Amazon.co.uk that are delivered to customers in a country where you hold a VAT registration, you should be excluding those sales from your UK VAT return?
This is because they are outside the scope of VAT due to you having paid VAT on them in the country they were delivered to (where you also hold a VAT registration). If you have sales of this nature for £600 per month that’s another £100 saved!
How do I make sure that I never overpay my VAT again?
To do all of the above in Link My Books is literally as easy as selecting which countries you are VAT registered in and then which tax rates you want to use for a few sales and fees categories, and we do the rest for you automatically!
Yes, that’s right – you spend 2 minutes on our Accounts & Taxes wizard, then you should never overpay VAT on your sales again and that you always reclaim the VAT you pay to Amazon on their fees too! Now that’s two minutes well spent don’t you think?
Read the full A2X to Link My Books migration setp-by-step guide here.
Ready to swap from A2X
to Link My Books?
Start your 14-day free trial of Link My Books and book your free one to one migration call with us and start saving your hard-earned cash each and every month from then on!TRY LINK MY BOOKS FOR FREE
1. Prices compared on 1st May 2019. 2. If you have activated the Amazon VAT calculation service this will occur.