A2X fetches your payout data from TikTok Shop and categorizes the transactions into higher-level transaction groups on the left-most column, such as Sales, or Commissions and Selling Fees.
A2X can create generic accounts in your Chart of Accounts
When you first go to set up your Accounts and Taxes mapping, you will see that A2X will have you answer a short questionnaire.
Answer the questions based on the business, then select 'Use assisted setup'.
Click 'Confirm and finish' to allow A2X to create the following list of accounts in your accounting system:
Next, bulk update your tax settings in A2X
Step 1: Enable Bulk Actions
Select the transactions to enable bulk actions.
Step 2: Choose the Tax Rate
For US sellers, select the No Tax tax rate. For UK sellers, see Accounting for TikTok Shop VAT (UK). For additional information, see HERE for VAT and GST mapping.
The default accounts created by A2X will assign your transactions into the account types. This will generate a reasonable set of financial reports without needing to spend a lot of time on the account mapping process.
Click 'Save Mapping'.
Account Types for generic accounts created by A2X
The names of the account types created in Xero and in QuickBooks are slightly different but, in accounting terms, they are the same.
The table below shows the basic account types for each accounting solution so you can find them in your reports:
A2X Account | Xero Account Type | QuickBooks Online Account Type |
TikTok Sales | Sales | Income |
TikTok Discounts | Sales | Income |
TikTok Refunds | Sales | Income |
TikTok Shipping Income | Sales | Income |
TikTok Reimbursements | Revenue | Income |
TikTok Advertising | Expense | Expense |
TikTok Fulfilment and Warehousing | Expense | Expense |
TikTok Seller Fees and Charges | Expense | Expense |
TikTok Shipping Fees | Expense | Expense |
TikTok Adjustments | Current Asset | Other Current Asset |
TikTok Pending Balance | Current Asset | Other Current Asset |
TikTok Reserved Balance | Current Asset | Other Current Asset |
TikTok Carried Balances | Current Asset | Other Current Asset |
TikTok Sales Tax Collected | Current Liability | Other Current Liability |
TikTok Gift Card Liabilities | Current Liability | Other Current Liability |
TikTok Loans | Current Liability | Other Current Liability |
Sales or Revenue or Income and Expense accounts will be on your Income Statements (Profit and Loss). Current Assets and Current Liabilities will be on your Balance Sheet.
Please Note: The Tax on Fees groups are mapped to the same expense account as the fee they relate to, and are kept separate so VAT/GST can be treated correctly in the UK. Affiliate Fees are also kept in their own group for the same reason - see Affiliate fees in TikTok Shop for more detail.
By saving the mappings, the chosen accounts will be created in your accounting system and also mapped to your payout transactions after you refresh them. With this setup task complete, you are ready to send your first payout!
Custom/Manual Mapping
Because A2X is connected to your accounting software, it is importing your complete Chart of Accounts. If A2X detects an account that already matches the default, then it will be pre-selected.
Instead of our generic default accounts, you can select your own account for any transaction type. Just click on the "x" and then the down arrow to open the dropdown, and then scroll to find and select the account from your Chart of Accounts list.
Please Note: A2X uses account codes that indicate the accounts were created by A2X. This will differentiate them from the default codes used in the accounting systems, which are often numeric sequences such as 4000, 4100, etc.
Well done, you've mapped your Account Types in A2X!
Pro tip:
Add tracking codes or classes for TikTok Shop in your invoice settings
To generate custom reports by sales channel like this example below:
We’re here and available via chat to help with any questions you have.