I would like to enter all my accounting data into Quickfile from the date of incorporation in 2003 so as to have a complete financial record but I am not sure how to close off each financial year. Entering the sales and purchase data is not a problem but year end and journals I am not familiar with as my accountant does all this for me at the moment. From my experiments, it seems that Quickfile does not recognise data from before 2013. How do I get beyond this? Ideally, I would also like each year end generated in Quickfile to tally with my paper accounts; are there any suggestions as to what to do if they do not? Many thanks.
You can import all customers, suppliers, sales and purchases through CSV if you have soft copy of data, no need to manually enter it, then do year end journals, you need to have year end adjustment to hand to match figure with paper accountrs
Thank you. Year end adjustments; are these something I should get from my accountant or are they the discrepancy between the paper accounts and the Quickfile accounts? Do you know how to carry out year end activities in Quickfile over multiple years? Is it ok to enter all my sales and purchase figures for the 10 years of trading and then start doing year end for each year in turn or will this mess things up? Thanks again. Bob.
To be honest with you , its going to increase work for you. Six year is legal requirement to keep records. Best is enter opeining balance sheet for current year and activities from there to date
I wouldn’t recommend you attempt to import all your accounting data from 2003, this will likely be a considerable task (depending on the size of the company). All you really need to do is identify a transition date (e.g. start of a VAT period) pull of a trial balance from your previous accounting software and import these figures.
Thank you both. It would not be that much work especially as there are very few transactions for the first 5 years as the company was dormant. Also I have the data in Excel which I could easily reformat to feed in via CSV. I would be happy to enter the data if it is possible in Quickfile as I would then have a complete cloud-based record which I could refer to from anywhere and it would allow me to analyse and compare earlier years. I am also hoping that in the process I will get a better grasp of the whole accounting process rather than just leaving it all up to my accountant and being ignorant.
If you are up for adventure, go for it, good luck
That’s fine, and just to return on the other point, you should be able to import data from as early as 2001, I’m not aware of any restrictions that would limit you to importing entries for 2013 and after.
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