Closing previous years in Quick File

I am starting to use a Quickfile account that has never been used to it’s full potential, it has only been used to record invoices and the odd purchase.

It was opened back in 2011 and there has never been a close down on any of the years since. Can this account be used to complete the bookkeeping properly in light of this? Is there a simple solution to clear down the previous years, address the brought forward balances and correct them so they are accurate for this current year that started on the 01.04.14?

I would recommend taking a look at the following guide which explains how to journal your year-end adjustments:

This process will also lock the accounts up to the closing period. There’s not really much more to the closing down procedure than this. All your data remains accessible from day 1 the above tool really focuses on moving the P&L loss/gains for each year to the balance sheet and locking the account from unintended modification.

Thank you for the reply. I’m not sure if this will work as the system was never set up correctly from the start, with opening balances etc, and not all transactions have been entered - supplier and customer payments/receipts, so there are no true reflections of the accounts in any area of the company. And this spans over three trading years as there have never been any close downs between each year. Can I set up a new company and export/import between the two?
Thanks again,

This isn’t a problem, we can even move the client and supplier records for you. Everything else however would be manual, i.e. downloading from the original account in CSV then uploading to the new account.

I wouldn’t recommend moving every thing en masse, It’s better to just pick a transition date (i.e. beginning of a VAT quarter or accounting period) and then import just the opening balance (refer to method 2).

Thanks again. I have managed to set up a new company and export/import the client and suppliers. I am now trying to import the sales invoices. I have tried just one to see what happens and it has saved it as a draft. I would like to post it to the clients account but I don’t want a copy to be sent to them as they would already have received it from the existing Quickfile company, is this possible?

If you don’t provide any payment information on the CSV the invoices would get imported in DRAFT status, otherwise they would be marked as PAID. If you want to mark these as SENT without actually sending the invoices, you can select 50 at a time from the invoice management screen and mark as “Update as sent”.

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