I’m sure I’m missing something but I’m hoping I can get some help.
Rather than inputting a years worth of data into Quickfile or faffing around with uploading my excel files I thought it would be simpler to create opening balances.
Problem is they have is they have to balance and no-ones sales will equal expenditure.
So how you can just record expenses and sales. I have no stock as i provide a service and I pay no VAT as I’m a sole trader.
Sorry I really don’t understand. What you’re saying is go and find an opening balance template and then use the figures from my Profit and Loss to construct one?
How many items you would have in your opening balance sheet? I guess
Trade Debtors
Bank
Cash
any current liabilities
and then
Capital
Profit or (loss)
Drawinngs