
A brand can sell more than $100,000 on Amazon and still owe Amazon money on the payout.
That’s not a hypothetical. It’s what happens when multichannel sellers run their books off sales reports instead of payout data, and it’s more common than most founders want to admit. If you’re doing 1,000+ orders a month across Shopify, Amazon, TikTok Shop or Walmart, and month end still means a weekend buried in spreadsheets, this one is for you.
Stefan Dobrev is the Sales and Onboarding Lead at Link My Books, the UK-built ecommerce accounting platform that turns Shopify, Amazon, eBay, Etsy, Walmart and TikTok Shop payouts into bank-matched entries in Xero and QuickBooks. Before that, he spent years inside fintech at QuickBooks and Dext (where he watched the Greenback acquisition become Dext Commerce). Today he sits with sellers and their accountants and walks through payouts line by line.
In this conversation, Stefan breaks down exactly why your Shopify payouts never match your sales, where marketplace fees and deferred transactions hide, and how one small tax mapping mistake ballooned into tens of thousands in overpaid VAT. Whether you’re doing your own books or handing them to an accountant, this is the playbook for financial clarity in a multichannel world. Let’s dive in. 👇
✅ Why your deposit is never your sales number: the four forces quietly shrinking every payout before it hits your bank, and why one of them catches even experienced founders off guard.
✅ The month-end trap most multichannel brands fall into: what happens when a payout straddles two months, and how it can misstate your P&L without you noticing.
✅ How a brand doing six figures every two weeks owed Amazon money: the blind spot Stefan spotted within minutes of pulling three months of their data.
✅ The tiny mapping error that cost one seller tens of thousands in tax: a single question about which Amazon entity invoices your fees, and why the answer matters so much in Europe.
✅ Where software ends and your accountant begins: how clean, automated data shifts your bookkeeper from data entry to real advisory work, whether you’re doing $10K months or $1M months.
✅ What AI and MCP actually mean for ecommerce accounting right now: why “95% accurate” isn’t good enough when the tax authority is watching.
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Most founders look at their sales report, look at their bank account, and assume something is broken. Stefan’s first point is that nothing is broken: you’re just looking at two different reports. Sales are recorded when the order is placed. Payouts arrive two to five business days later, batched by capture date, not order date. Processing fees come off the top. PayPal, Klarna, Afterpay and gift cards settle on their own schedules. Refunds and chargebacks reduce future payouts instead of reversing the original sale. And Amazon holds funds until seven days after delivery, by design. You get one lump sum, and nobody tells you what’s inside it.
Steve pushes on the accounting question every growing brand eventually hits: is revenue the order date, the capture date, or the day cash lands? Stefan explains why ecommerce lives in a strange middle ground between cash and accrual accounting, and how Link My Books splits payouts that cross month end and carries the balance forward so every line lands in the right month. The same logic handles Amazon’s deferred transactions, which Stefan calls one of the biggest accounting headaches in the space.
Then come the stories. Stefan describes a seller doing $50K to $100K every two weeks on Amazon who still owed Amazon $2,500 to $4,000 on each payout because nobody was watching advertising spend. He shares another merchant who overpaid roughly 40,000 to 50,000 in VAT from mapping Amazon fees to the wrong entity (a UK registration versus Amazon’s Luxembourg entity). Small mistakes, compounding quietly, until the numbers are impossible to ignore.
The conversation closes on AI and the future of the stack. Stefan is candid that Link My Books’ MCP is internal-only for now and explains why: in accounting, 95% accurate is a failure. You’ll also hear why marketplace data access takes years to earn, why accountants have historically turned ecommerce clients away, and how better tooling is flipping that around.
This isn’t a pitch for accounting software. It’s a blueprint for knowing where your profit actually goes, channel by channel.
👉 Reconcile to payouts, not to sales. Your sales report and your payout report answer different questions, and treating them as the same number is where most month-end confusion starts. Every deposit should tie to a single entry that breaks out sales, refunds, fees and tax to the penny. If you can’t explain why a deposit is the amount it is, you can’t make a confident pricing or margin decision.
👉 Watch ad spend at the payout level, not just in the ads dashboard. Stefan’s client was capturing $50K to $70K every two weeks on Amazon and still ending each payout in the negative. The ad spend was there in the data the whole time, it just wasn’t broken out where anyone looked. Granular fee categories (FBA fees, advertising, commissions, digital services fees) are what turn bookkeeping into an early warning system.
👉 Audit your tax mappings once a year, even if your accountant set them up. A single mapping decision about which Amazon entity invoices your fees led one seller to overpay roughly 40,000 to 50,000 in VAT, now waiting to be reclaimed. If you sell into the UK or EU, ask your accountant specifically how marketplace fees are mapped and why. It’s a 30-minute conversation that can protect real cash flow.
👉 Close the month on the right month. End-of-month payouts and Amazon’s deferred transactions routinely push revenue and expenses into the wrong period. If you’re doing $10K months, that’s an annoyance. If you’re doing $1M months, or talking to investors or lenders, a misstated P&L is a credibility problem. Make sure whatever system you use splits cross-month payouts and adjusts deferred amounts automatically.
👉 Pay your accountant for advice, not data entry. By Link My Books’ customer reports, manual reconciliation runs six to ten hours a month per channel. That’s money spent on mechanical work that software can do. Free that time up and redirect it into advisory: margin analysis, channel profitability, refund patterns by SKU.
👉 Use refund patterns as product intelligence. A rising refund rate shows up in your accounting data before it shows up anywhere else. When refunds are categorized by channel and product, you can spot a faulty SKU early and pull it before it erodes margin and reviews. Revenue is vanity, profit is sanity, as Link My Books CEO Dan Little puts it.
Stefan Dobrev
Sales and Onboarding Lead, Link My Books
Stefan helped build out the sales and onboarding function at Link My Books, the ecommerce accounting platform founded in 2017 and acquired by Visma in January 2025. Link My Books connects Shopify, Amazon, eBay, Etsy, Walmart, TikTok Shop, WooCommerce and Square to Xero and QuickBooks Online, and holds 5-star ratings on both the Xero and QuickBooks app stores.
His path into ecommerce accounting runs through close to nine years in financial technology. He joined Receipt Bank just as it rebranded to Dext, watched Dext acquire Michigan-based Greenback (which became Dext Commerce), and spent several years at QuickBooks working side by side with accountants and bookkeepers, including fielding their post-Brexit VAT questions.
What makes Stefan’s perspective valuable is that he lives between two worlds: the risk-taking founder in the operational trenches, and the risk-averse accountant for whom every decimal point matters. He translates between them every day.
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Steve Hutt: Welcome back to eCommerce Fastlane. I’m your host, Steve. Today’s conversation is all about why your Shopify payouts don’t necessarily match your sales and what that gap is quietly costing you. I’ve done some research on this, and it’s interesting to see the disparity between what your financial systems are showing and what Shopify is showing. We see something similar from a traffic perspective. We’ve always seen analytics in Shopify being 10% or 15% different from what Google Analytics or third-party pixel tracking tools show. If you’re doing around 1,000 orders or more a month, likely selling on Amazon or even TikTok Shop, and the end of the month still means a weekend buried in spreadsheets, this episode is definitely for you. My guest is Stefan, the sales and onboarding lead at a company called Link My Books. Before these commercial roles, he worked at QuickBooks, Dext, and Payhawk, so he’s been deep in the fintech world. Now he’s sitting with sellers and walking through their payouts line by line, getting into the weeds to help Shopify brands. By the end of this recording, I’m hoping you’ll know what comes out of a payout before it hits your bank, where tax overpayments might be hiding in your multichannel business, and where to start fixing some of this complexity among the 50,000 things you’re doing every month. Hi, Stefan. Great to have you on the show today.
Stefan Dobrev: Hi, Steve. Thanks for having me on the show.
Steve Hutt: A little bit of a long preamble there, but I always joke that whenever I have someone with a financial background on the show, the content can seem a little dry. The reality is that the financial health of a business is incredibly important. It’s the only way you can make intelligent decisions. We talk about having your P&L in great shape if you’re thinking about an exit a couple of years down the road, and that’s table stakes for an acquirer. But even if you’re not looking to sell, the business owner, controller, or financial person needs clean data to make decisions. They need everything set up properly, not treated as an afterthought once a month. That’s why I wanted you on the show. When I learned about Link My Books, I thought, “This is an interesting solution that’s not just a QuickBooks connector or a Xero connector. It’s much more than that.” Before we jump into my questions, you worked at QuickBooks and a few other places. What pulled you into eCommerce accounting specifically? Was there something that drew you into that market?
Stefan Dobrev: It’s a good question. I think the answer comes from my time at Dext. When I started interviewing, the company was called Receipt Bank. In the middle of the interview process, they rebranded to Dext after an acquisition. Two months after I joined, they acquired a company called Greenback out of Michigan, which does something similar to what we do: eCommerce accounting automation, plugging into various sales channels, and helping with the bookkeeping and accounting side of eCommerce. That was my gateway into eCommerce from a software vendor perspective. Once I had the opportunity to join Link My Books and help build out the sales and onboarding function, that’s where I really took a deep dive. Dext has multiple products, and one of those became Dext Commerce, which is now one of our competitors.
Steve Hutt: Let’s talk about what happens when you open up a Shopify seller’s payout, because you’re certainly in the weeds. When you work together and take a look for the first time, what’s already been taken care of before the money hits their bank? I want to set the stage for what Shopify is doing natively from a payout perspective when you log into the admin.
Stefan Dobrev: One of the questions I get very often from merchants is why their deposits don’t match their sales figures. What they’ve received in their bank account isn’t what they expected. I think this division of labor is fascinating. Merchants are in the trenches with operational work, making sure the warehouse has the goods they need to keep sales going, supplier relationships are on point, and suppliers are paid on time. Then there’s advertising, branding, agencies, PPC, SEO, AI search, and staying relevant. At the same time, they have to deal with external factors such as compliance, regulations, and changes on the platforms they sell on. The operational side is so heavy and intense that accounting becomes an afterthought. It’s easy to look at how many sales you’ve done this month and then be confused by what you’re seeing in your bank account. Time and time again, we see this clash of two worlds that have to operate hand in hand. The accountant or bookkeeper doesn’t know the operational side, and they shouldn’t have to. It’s not their expertise. Equally, a merchant typically isn’t an accountant by trade. That’s a different persona: more entrepreneurial and a risk-taker by nature. To start an online business and keep pushing against the odds, you have to have a lot of entrepreneurial spirit and believe that, despite the risk, you can make it. A bookkeeper or accountant naturally has to be risk-averse because every mistake can lead to an audit, a fine, or questions from the revenue services. The risks are real. That’s why numbers matter so much, and every decimal point matters. The clash of those two worlds is where we come in because we work with both sides. If I may quote our founder and CEO, Dan Little, “Revenue is vanity; profit is sanity.” We help clarify which numbers merchants and their accountants should look at, why they matter, and how to track them for profitability and P&L reporting.
Steve Hutt: Is there anything specific you’ve found that explains the disparity between a founder’s expectations about the revenue going into their bank account and what actually gets deposited? People are trying to make financial decisions, but if the revenue, or what they think of as profit going into their bank account, isn’t what they expected, we have to figure out why. Is that where you fit in? Shopify is making decisions about these deposits, but what’s the explanation behind, “Here’s my revenue. Why is my deposit different?”
Stefan Dobrev: There are a few recurring themes worth noting. The first is timing differences. Sales are recorded when the order is placed, but payouts arrive days later, typically two to five business days later, depending on the country, platform, and payout frequency selected. Orders from the last few days of a period show as sales but haven’t been paid out yet. There’s often confusion between sales reports and payout reports. They’re separate reports, but in a merchant’s mind, they’re often the same: “Shouldn’t the payout equal the sales I’ve made?” It’s a common misconception, and it’s surprising how often we hear it. Payouts batch orders by the date they were captured, not ordered. A payout for October 20 might contain orders from October 16 to October 18. Not everyone gets paid at the same time. Even at massive scale, someone like Amazon is paying out tens of millions of sellers, and they can’t pay everyone at once. Sometimes orders on either side of the end of a payout period don’t make it into that payout and land in the next one. That causes confusion and leads to discrepancies, or perceived discrepancies. Another reason is fees deducted before the payout. Shopify Payments processing fees, effectively a percentage plus a fixed amount per transaction, are taken out before the money hits the bank account. The payout is therefore lower than the gross sales amount. With Shopify, you also have the flexibility to enable multiple payment processors and gateways at checkout, so not all sales necessarily go through Shopify Payments. The customer might choose PayPal, Afterpay, Klarna, gift cards, manual payments, or third-party gateways. Those can have different fee schedules and payout intervals. As soon as you expand beyond Shopify Payments or your standard processor, you have additional timelines and data formats to account for. It’s easy to get lost in the details. Then there are refunds, chargebacks, and adjustments. A refund can reduce a later payout rather than reverse the original sale. Reserves held on the account can delay part of the payout, so what you expect isn’t what you see. Amazon is worth mentioning here because of deferred transactions. By design, they delay a payout until seven days after the delivery date. If delivery is late because a fulfillment partner has delays, you’ll receive that payout later than expected. Taxes and shipping are another factor. Sales reports can be configured to show net sales excluding tax and shipping, while payouts include everything the customer actually paid. Where it gets interesting is that you receive one amount in your bank account, and the challenge is figuring out why it’s that amount. What happened between the sales and the payout? That’s where a tool like Link My Books can help.
Steve Hutt: I love the audit trail part of it, too. That’s incredibly important, along with the education around timelines. You’re right: an order might be created in one month, but the payout comes in another. If you’re closing your books monthly, you have to understand whether you’re recognizing revenue on the order date, when the money is captured, or when it hits your bank account. I’ll give you an example that happens a lot. Most people use Shopify Payments, but customers can select another checkout option, such as Apple Pay or PayPal. With PayPal, a lot of brands don’t sweep the money out of that account every day and match each order to a transaction deposited into their bank account. They wait until there’s $500 or $1,000 and do one big sweep. What’s the audit trail for all the transactions that justify that sweep? Shopify does something similar. Depending on your payout schedule, you get a summary and a chunk of money. That’s where Link My Books comes in, with detailed records of what happened from the transaction to the money arriving in your bank account. You can justify everything. With PayPal, sometimes people forget to sweep the money in the month the orders were created, settled, and shipped. They collect the money the next month. Does that mean the cost of goods sold is in a different month? You’ve taken inventory out in one month, but you’re getting paid in another. You can understand the complexity with preorders, delayed capture, and fulfillment. It’s an interesting cluster, right?
Stefan Dobrev: It is, and I hear those challenges practically every day. If we apply accounting standards, whether IFRS, GAAP, or others, revenue is recognized when you’ve fulfilled your obligation to the customer, not when you get paid. For most eCommerce stores, that’s effectively the order date, or the shipment date if you want to be strict. Shopify’s own sales reports work this way. The problem is that the money arrives later. Once it arrives in your bank, it’s settling an amount you’ve already technically earned. That natural delay makes it tricky. It’s almost like an accrual basis of accounting for your sales, even though it’s not an accrual sale in the traditional sense. There’s no invoice or payment terms. The sale happened at checkout, and the customer transferred the money. The question is when the merchant receives it. That creates a reality where you’re dealing with elements of both accrual and cash accounting. It can be tricky to get your head around how to close the month and what to take into consideration. That’s something we help with, especially when an end-of-month payout covers two months. We automatically split the settlement payout summary we’ve generated and carry a balance forward, so every revenue and expense line item goes into the right month. That allows you to close the month accurately without misstating your P&L. The same applies to Amazon’s deferred transactions, which are a big pain point from an accounting perspective. Your deposits don’t match the reports you’re looking at, so merchants and their accountants spend hours every month clarifying what happened and which month the figures belong to. We automatically produce adjustment entries based on the released and deferred amounts month over month. At any point throughout the year, you can ensure you’re not misstating your P&L. Whether it’s for compliance, internal decision-making, or satisfying investors’ interest in the business, clean data is critical.
Steve Hutt: Thank you for sharing that. What I find interesting is that it’s not just a Shopify problem. Your solution helps with education and making proper decisions. Without proper financial hygiene, it’s difficult to make those decisions. That’s where your solution fits in. You’re connecting not just the Shopify store, but Amazon as well. Most brands have at least part of their catalog on Amazon for brand-building and its organic reach. People listening might also sell on Etsy or Walmart. Walmart Marketplace is even a sponsor of this show because of that massive built-in audience. TikTok Shop is also growing, particularly with Gen Z and younger millennials. You’ve been intentional with Link My Books about addressing the Shopify problem, but also these connected marketplaces. There’s a disparity when it comes to having a source of financial truth across marketplaces and Shopify. Sometimes you want to pause and ask, “How is my TikTok Shop doing? Do I need to make changes to margins or pricing?” It’s hard to get your head around the financial side without going into each platform separately. You have a different approach to bringing in those channels, organizing the information, and helping people make better decisions.
Stefan Dobrev: That’s a very good question and point, Steve. Multiplatform sellers tend to see the most value in a tool like Link My Books. I’ll give you an example of a client I recently worked with through their accountant. They were doing good numbers on Amazon, but they weren’t monitoring advertising costs. Even though they were doing five figures, sometimes six figures, in sales with every payout, they still owed Amazon money. I found that mind-blowing. If you’re making $50,000 to $100,000 every two weeks, surely you’re making some profit. Not only were they not making a profit, but with every payout, they owed Amazon money. They weren’t tracking their advertising costs. When they connected to Link My Books, we pulled three months of data, which we do by default. Their accountant wasn’t aware of the problem. I said, “Here’s an actionable insight: you need to address the advertising spend. It’s out of control. They’re not making anywhere close to the revenue needed to justify these expenses.” That’s one example of uncovering patterns and the reasons behind the numbers. If you’re only looking at sales data, you’re not looking at advertising spend. If you’re only looking at what’s coming into the bank, you’ll be shocked to see that you owe money even though you’ve done thousands of orders and captured $50,000, $60,000, or $70,000 over two weeks. Refunds are another factor that can affect operations. If you’re tracking patterns and see an increase in refunds, you need to look at which product is causing them. Maybe it’s faulty, and you should pull it. You’re making better decisions based on accounting data. That’s why it’s important to break everything into granular line-item categories for sales and fees rather than bundling all fees together. Split them into FBA fees, digital services fees, commissions, TikTok affiliate commissions, and so on. Instead of relying on retrospective analysis once a problem has become large, you’re seeing the data regularly, categorized correctly.
Steve Hutt: It sounds like Link My Books doesn’t just save hours. It shows you where your profit is going by channel, and then you or your accountant can figure out what to do about it. In this case, negative margin from Amazon. Holy smokes, that’s insane.
Stefan Dobrev: Imagine owing Amazon $3,000 or $4,000 on one payout, then another $2,500 on the next. You’ve already made more than $100,000 in sales, yet you still owe them money. It’s almost unbelievable. Having that visibility makes a massive difference. To your point, accountants want clean data. They’re not going to manually key cells into Excel from a report received from a client. That typically sits with the bookkeeper. But for the bookkeeper to move to the next level of what they do for a client, they need to free up time. The merchant no longer has to export anything, the bookkeeper stops doing low-value work and starts upskilling, and the accountant receives clean data they can use for advisory work.
Steve Hutt: Yeah.
Stefan Dobrev: It’s quite transformational when you look at it from that perspective. It’s a focused product, but it’s not simple to build. Every day, I discover how complex the product is. It’s made to look so simple that you’re almost sitting there thinking, “Hold on. What am I missing?” That’s when you know it’s highly focused, highly niche, and highly effective.
Steve Hutt: Something that’s top of mind for me is where the software’s job ends and where the accountant’s job fits in. An accountant can be more expensive than a bookkeeper. You might think QuickBooks handles the daily ledger, with journal entries and things happening on their own, but that’s table stakes: getting the financial line items in there, along with fixed expenses and one-off costs. I’m curious about what the software gives the accountant. Are you helping them do higher-level tasks instead of lower-level work?
Stefan Dobrev: It’s a very good question. In this sector, dealing with financial data and software, there’s a blurry line between software functionality and tax. That line gets blurred all the time. We always have to lead with a disclaimer: I’m not a tax advisor. We’re talking about tax, but I can’t advise you on the right way to do your taxes. In financial technology for accounting and tax, there’s a fine line between where software functionality ends and the job of a qualified CPA begins. The two are intertwined because even something as simple as mapping line items and applying the right tax treatment can be done incorrectly by qualified finance and accounting people. Getting one or two tax mappings wrong, from a European tax perspective, could mean you’re overpaying value-added tax over time. We’ve had a few merchants in recent months who made a small, simple mistake that, with increasing sales volume, ballooned into $40,000 or $50,000 in overpaid tax that they now need to claim back. They wouldn’t have uncovered that unless their model had been challenged by a tool like Link My Books. It gave them clarity and prompted them to reconsider how they mapped certain items. In particular, it was a question of mapping Amazon fees and identifying which entity invoiced them: a UK-based entity, whether it was registered for tax purposes, or a Luxembourg entity, which Amazon uses for transfer pricing. From a small mistake, they uncovered $50,000 in overpaid VAT. It’s mind-blowing how simple an error can be and how big its impact can be on the business, cash flow, and bottom line.
Steve Hutt: Can I ask how AI fits into this? It’s on a lot of merchants’ minds. People use ChatGPT or Claude as a source of truth for many things, and they’re using MCP connections to tools. Is there an MCP server for Link My Books, or is it still early days? Some people like a chat-based solution. Once everything is connected and the pipes are set up correctly in the background, they can ask questions in natural language and query their tool of choice directly from Claude. What’s the current lay of the land for Link My Books, and where do you see AI going?
Stefan Dobrev: We’re getting more questions about that, and clients are sharing what they’re doing. A couple of weeks ago, I spoke to a merchant building their own mini ERP system, and they needed our connectors as part of it. AI is increasingly prevalent. Being able to ask a question about your books or refunds saves a lot of digging and interpreting data.
Steve Hutt: Yeah.
Stefan Dobrev: Going back to the merchant’s expertise versus the accountant’s expertise, we can look at the same balance sheet and see completely different things. If you don’t know financial ratios, regulations, or what you can classify as a business expense, you can make mistakes. Those mistakes can be punished by regulators and revenue services. They’re ruthless. There’s no one-strike rule. You make a mistake, you get a fine, and that’s the end of the discussion. We are working on an MCP, but it’s very early stage. From a commercial perspective, I don’t want to sell the product roadmap.
Steve Hutt: Is it in alpha or beta right now?
Stefan Dobrev: No, it’s only internal. We’re in the very early innings of testing it. Our product is hard-coded. The reason is that models have improved massively this year, but that wasn’t the case last year. When I worked with AI last year, it wasn’t as good as it is today. It’s almost a different tool. Where it’s going next year in terms of accuracy and being able to trust the output could be a different reality altogether. For now, it’s hard-coded, but we’re extremely interested in what AI can help us achieve. We use AI internally for various purposes and externally for customer support. When you contact Link My Books, we have a well-trained bot called Neo that helps answer questions. Something worth mentioning is that three-quarters of questions are answered correctly, based on surveys from clients who have interacted with Neo. When I joined just over a year ago, that metric was under 50%. It’s interesting to see how far we can push that toward giving everyone an assistant within the product. Then there are connections to your operative brain, whether that’s ChatGPT, Claude, or something else, so you can pull data and make sense of the tools you’re using. In close to nine years working in financial technology, I’ve learned there’s no single company that solves it all. Without saying anything negative about other companies in the ecosystem, even someone like Intuit, a massive, NASDAQ-listed company that’s been around for years and practically invented accounting software in the 1980s, doesn’t do what we do. I had the pleasure of working at QuickBooks for a few years. They offer a connector, but lately it hasn’t produced amazing results, and that’s driving business our way. If a company with Intuit’s scale can’t fix the problem, the name of the game is integrations. Integrations can be painful. Organizations might choose a product at one point, but after team or technology changes, those products are no longer a good fit together. Then it’s back to evaluations, demos, trials, and making everything work together. I think the true power of AI is connecting those dots as seamlessly as possible without requiring deep engineering knowledge. That’s going to make a massive difference for eCommerce sellers using tools for inventory management, pricing, fulfillment, accounting, and everything else.
Steve Hutt: As a side note for those listening, even if there isn’t a go-to-market MCP yet, which is the case with many businesses and tools, it’s often on the roadmap. I agree that these frontier models, especially Claude’s Opus model, are mind-blowing for so many reasons. What’s interesting is Claude’s Chrome connection. With authorization, it could work within the Link My Books app in a logged-in Chrome session. You could query the solution, and it could take screenshots, click around, and work out how to pull data from the platform instead of doing it manually. You could ask in natural language, “What’s going on in my TikTok Shop for last week? Can you give me a summary of X, Y, and Z?” An MCP would have an API connection to pull the data and share it back. Without that, the Chrome connection could click around and retrieve it through the browser. It’s something to consider as an option.
Stefan Dobrev: The biggest challenge in getting the product to where it is today is that it takes a long time to be allowed to pull data from Amazon, Shopify, TikTok Shop, Walmart, or any of our connectors. Building those relationships and getting permission to connect to the APIs takes time. We also go through annual auditing processes with Xero and QuickBooks. I spoke to a gentleman at an event recently who said, “With Claude, I can build your product in two days.” I said, “Honestly, good luck with that. I’d love to see what you build.” It takes a long time to bring a robust, accurate integration to market. The latest one we’re excited to bring to market by the end of this year is Temu. It’s taken a long time, and I’ve witnessed that process. I’m not involved in building it, but I know how much work our product team and the accountants we work with put into validating everything. We’re in the business of data accuracy. We can’t allow hallucinations or 95% accuracy. It has to be 100% accurate, so it’s complicated. I suspect part of this will come down to format wars. For so long, you couldn’t charge an iPhone with a Samsung charger, which is ridiculous. Then you need someone like the European Union to mandate it through bureaucracy and force the change. A lot of companies firewall access to their data. It would be amazing if you could allow an agent into your Seller Central account and have it make sense of everything. That would probably be a dream come true for many sellers: an agent following you everywhere and gathering the data. But I suspect Amazon isn’t going to be happy about that. Shopify might not allow it, and eBay might not allow it. Let’s see where things go. It’s an interesting future for us and the industry. AI is revolutionizing it, as it is every other industry.
Steve Hutt: It’s interesting to see these personal agents and the tools coming out from ChatGPT, Grok, and others, including previews in the Anthropic world. You hear stories about Amazon blocking bots from visiting its site and making purchases on someone’s behalf. The wars happening right now are interesting.
Stefan Dobrev: Elon Musk was tweeting, or should I say posting on X, about potentially starting a competitor to Amazon. Competition benefits consumers, so I welcome it. What Amazon has built is nothing short of incredible, but more competition is always welcome. That’s a preview of something being possible in theory but not necessarily in practice. I’m sure companies will firewall it, block it, and encourage everyone to use their own MCP, AI, or frontier model.
Steve Hutt: Rufus, or whatever they call it. Before we wrap up, I want to get the lay of the land. In your opinion, who gets the best value from Link My Books today? You talk to a lot of merchants with different levels of complexity and GMV.
Stefan Dobrev: Anyone who needs to solve the mess of eCommerce bookkeeping. That could be someone selling on one channel, but the best value is usually for those on multiple channels, such as Amazon and Shopify, or those with multiple Shopify or Etsy stores. Merchants are the biggest group of clients we serve, but we also work with the bookkeepers and accountants who serve them. Those are broadly the two groups. To summarize the problem we solve, anyone selling across multiple platforms sees lump-sum payouts land in their bank account. Those payouts bundle hundreds of individual orders, each with sales, refunds, marketplace fees, shipping charges, and taxes. Different tax rates can apply depending on whether you’re exporting or selling domestically. Instead of manually unpicking deposits received in different formats, from different channels, at different times of the month, and reconciling them, we automate that work. You no longer have to download reports and check invoices for services such as advertising or Amazon FBA. It becomes streamlined, and you get clean entries.
Steve Hutt: Yeah.
Stefan Dobrev: Those entries match the deposit amount to the penny. Based on what clients tell us, they’ve gone from spending six to 10 hours a month per channel to having full automation. All they need to do is run their reports, update their P&L, and refresh. Everything goes there automatically, with audit files to back it up if the IRS or HMRC in the UK has questions. In practice, it’s reconciliation: each payout matches a single entry we generate. It’s tax accuracy: VAT or sales tax on sales, refunds, and fees is categorized properly. It’s multichannel visibility: comparing sales and profit margins across Walmart, TikTok Shop, and Shopify at a glance using our analytics feature. And importantly, it’s tracking cost of goods sold to clarify profit margins across those channels. All of that works seamlessly in the background. The second group is bookkeepers and accountants. Something we hear all the time is that they don’t favor eCommerce clients. It’s not because there’s no money to be made; it’s because the work is too manual and confusing. They need to understand how Amazon, TikTok, and Walmart operate and navigate those systems to understand timing and formats. A traditional accountant may be extremely knowledgeable about accounting, tax, and the fundamentals of their trade without being familiar with eCommerce. Going back to your opening question about what brought me into eCommerce, I stumbled into QuickBooks through an old colleague who reached out and said, “I think you’re going to love the company.” I did, but I’d never worked with financial accounting software before. It wasn’t my favorite subject at university. Then I ended up working with accountants daily for five or six years. It reached a point where, after Brexit, they were asking me, “How should I do this? How do you categorize it? How do you map it?” What you can take from that journey is that the modern reality requires expertise in multiple fields at once. Accountants I’ve worked with have needed to know how to set up software, integrate packages, and remain flexible with clients. One client might use Link My Books, another might use spreadsheets, and another might use something else. They need to serve them all. The easy response when a new eCommerce client comes along is, “I don’t have the capacity. I can’t take you on.” Once they see our newly released accountant portal, it gives them the confidence to double down on those clients. They’ve gone from refusing business to actively pursuing it. There are two broad categories with different reasons to use Link My Books. For an owner, entrepreneur, or merchant, it’s about focusing on operations. For an advisor, bookkeeper, or accountant, it’s about having the right tools to scale your expertise and grow your practice. Otherwise, you’re back to pen-and-paper books, and you won’t be able to handle 20 clients. You’ll handle one or two at most.
Steve Hutt: I hadn’t really thought about that. My main reason for having you on was to talk about merchant benefits, clean records, and giving your accountant higher-level work. On the flip side, there are tens of thousands, if not hundreds of thousands, of accountants who want to work with eCommerce businesses or already have them as a large part of their client base. This sounds like an interesting connection that can make their work better and more impactful for their clients.
Stefan Dobrev: That’s what it is. When you hear “automate the bookkeeping,” what does that mean for the bookkeeper? We get that question all the time. It means you start adding value beyond mechanical work by learning how to read the data. That’s the journey for a bookkeeper. They may not want to remain a bookkeeper throughout their career. They might want to move up the ladder, qualify as a CPA, work on bigger accounts, file annual accounts, and deal with more rewarding and interesting problems. That’s the angle. On the merchant side, they don’t want to pay someone by the hour to do manual work. They want to channel those funds into proper advisory and consulting support from an accountant who can interpret the numbers. It’s a win-win when you look at it that way.
Steve Hutt: I know we chatted before recording, and you have a bonus or promotion for those listening. The pricing is already incredibly affordable. I went to the website this morning, entered the approximate number of monthly orders and the number of channels, and the pricing came up. There’s a free trial, too, but I’ll pass the torch back to you. What would you like to offer listeners today?
Stefan Dobrev: Thank you, Steve. First, it’s been great talking with you, and thank you for having me on the show. For anyone listening, we’re here to help, even if it’s just a quick conversation to understand your business and explain how Link My Books can work for you. We offer a free trial on the website. Go to linkmybooks.com and click the blue button that says “Free Trial.” We also have a special offer for listeners using the Fastlane discount voucher, which you’ll see on the page. We’ll offer an extended 30-day trial instead of the usual 14 days. If you reach out and let us know you’re one of Steve’s listeners or followers, we’ll also offer a free onboarding call to make sure everything is set up on your account and share best practices from other merchants we work with. I’m looking forward to meeting some of you.
Steve Hutt: This is lovely.
Stefan Dobrev: In the coming weeks.
Steve Hutt: We’ve gone a lot longer than I typically record, but financial health, profitability, and the multichannel world we’re in are important. Financial clarity is about more than syncing to QuickBooks and dealing with it once a month, or only looking in the Shopify admin for profitability. That’s not the way to do it. For a relatively small amount of money, connecting Link My Books to your Xero or QuickBooks account can set you up for success in a multichannel world. Having clean records sent to your accountant is amazing. Thank you for coming on the show today. I really appreciate it. I learned a lot. You can’t see it because my camera is off, but I’m on page two of my notes. For a supposedly dry topic like finance and accounting, I’ve taken a lot of notes, so this was clearly impactful for me. I hope everyone listening gets value from it, too. Thanks, Stefan, for recording today.
Stefan Dobrev: I hope your audience sees value, or hears value in this case. Thank you very much for making me part of the show. It’s been a pleasure.
Steve Hutt: All right.
Stefan Dobrev: Thank you, Steve.
Steve Hutt: All right. Take care.