Hi Guys,
I have previously been using manual calculators etc to do my VAT, corporation and payroll and using Quickfile as just balance tracking. Moving everything to QuickFile - how do I balance old books so that items like VAT, PAYE etc are not showing on the asset side.
Thanks,
Manish
I think it’s very difficult to provide a short answer here, it very much depends on many other factors. Typically when you move accounting software you pull a trial balance from the old software and import this into the new system. This correctly sets your opening balance on all your ledgers.
If you’re coming from a manual method (e.g. Excel) you’d need to create your own journal to set the opening balances.
Some useful guides:
http://www.quickfile.co.uk/home/startup
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