taxomate allows you to set up account and tax mapping so that your settlements can be properly exported to QuickBooks Online or Xero Accounting.
After your settlements are finished importing from Amazon Marketplace and you have connected either QuickBooks or Xero, select Mappings from the left toolbar under Settings.
Option A. Using Recommended Mappings
Select Use Recommended Settings to allow taxomate to create the standard accounts in QuickBooks or Xero.
IMPORTANT: To easily reconcile your settlements in QuickBooks or Xero, map the following:
Accounts Receiving Funds: This is the bank account that receives your Amazon bank account deposit.
Account for Paying Amazon: This is the credit card account where you pay Amazon Fees (if applicable).
Option B. Using Custom Simple Mappings
You can access accounts already generated in QuickBooks or Xero by selecting the dropdown of the particular transaction type.
After setting the proper account mapping and tax settings, please select Update Mappings at the bottom right of the page.
Account and tax mappings may differ per country/region, so you may receive an error if your accounts and taxes are not setup correctly in QuickBooks or Xero.
Option C. Using Custom Advanced Mappings
To use advanced mappings with VAT Sales Codes please scroll to the bottom of the page and select Enable Advanced Mode.
Please Note: To use a custom account or tax rate, the account/rate must first be generated in QuickBooks or Xero (Chart of Accounts) before selecting in taxomate.
Select the Account and Tax Rate for each transaction type and select Update Mappings to save your settings.