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Beginner Queries regarding year end documents


#1

Hi Guys
Quick question - i am an accountant and do a few clients books (3 clients) and obviously would be needing t to produce year end accounts for them.
Does this software allow you to produce a P&L and a Balance sheet?
I have used free software before and input all my bank for the year only for it to not produce anything for YE, got to the end and it just basically said it was more bookkeeping and i would have to submit this workings to an accountant.
So would just like to ask before i download and start work?
Thanks for any advice and any feedback would be greatly appreciated.
If this is free and does all i need i would be a very happy girl.


#2

Hi, Shauna

QF is cloud based no need to download it.

It does not produce statutory accounts or Tax returns to be submitted to co ho HMRC. It will produce final TB to be imported to statutory software of your choice

Regards


#3

thank you very much for your reply


#4

Hi @shauna2282

As @FaradayKeynes says, we’re completely cloud based so there’s nothing to download. All you need is a web browser and you’re good to go!

There are no restrictions on the core functionality of the system, such as profit and loss reports, balance sheets and trial balance reports, and neither is there a limit to the number of transactions or invoices you can input.

Accounts that are graded as XS, S or M are free of charge, but an optional Power User Subscription is available to access more features (more on those here). Accounts with more than 1,000 ledger entries in a rolling 12 month period are graded as L or XL (depending on the number of entries) and will require a subscription which is currently £45 + VAT per year.

The alternative for accountants, bookkeepers and those managing multiple accounts is Affinity, which allows you to use one log in. This is charged differently, and is calculated daily based on the number of accounts and their sizes. There’s more on this here.

I hope that helps, but please do let us know if you have any further questions :slight_smile: