I’ve already been using Quickfile for a while, but recently noticed that under my company settings my business type is set-up as a 'Partnership/Non-Limited Charity. The ‘Partnership’ bit is correct but our company is not a ‘Non-Limited Charity’. Can you therefore list the business types available to help me clarify whether or not my business type setting is correct. Although I know that the business type can’t be changed after set-up, I am aware that the business type, once chosen, affects the list of nominal accounts available for use.
If you are a partnership, then ‘Partnership/Non-limited charity’ would be correct. It just means it’s applicable for both types
One only have 3 business types:
- Limited Company
- Sole Trader
For charities they are either incorporated and listed as a Limited Company or unincorporated and listed as a partnership. To be quite honest there are only minor differences between the company types in QuickFile, mostly related to the available nominal codes. The fundamentals of bookkeeping are similar in all cases.
Great! Thank you Glenn and Parker 1090 for your succinct replies and for clarifying this. At least I now know that I have set-up my business type correctly. I’m sure your list, Glenn, will help to assure alot of other QuickFile users that they have the correct business type set-up.
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