I have deleted all of one client’s payments and transactions over the financial year from the bank account. I think I meant to detag them. If I re-import the bank statement will it duplicate everything? Having left everything to the last minute, I was hoping to submit everything to my accountant today, however, I am faced with the daunting prospect of starting all over again; I’ve already over spent a week working on this system. HELP please! I am a sole trader.
If you deleted a bunch of tagged entries from the bank then it would have orphaned all associated invoices, so any paid invoices with deposits on that account would revert to unpaid, you should see this as your dashboard owed totals will shoot up.
Importing the bank statement won’t duplicate everything although you would need to re-tag all the entries back to the existing records.
Thank you for your help on this. I still cannot reconcile my bank statement, so, clearly, I am still doing something wrong!
Any additional help would be welcome.
Is your closing bank balance correct? Is the bank statement on QF a mirror of what is on your bank?
Yes the closing bank balance is £662.23. I have added transactions to the bank statement - these include payments to Cartus as the remittance advice is also an invoice and payments from the proprietor’s drawing account to pay for the personal expenditure on the credit cards as I pay for them directly from the business bank account - going forward it looks like this is too much of a headache and I will make one personal and the other business.
We do now have a number of featured accountants and bookkeepers on our panel (see the right hand column in your dashboard) who have experience using QuickFile. I am sure they would be able to help you here, it does look like you would benefit from some professional assistance.
Thank you for the advice - I have done exactly that and they have quickly spotted where I have made the mistakes!
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