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First year account

Hi, I have been using Quickfile for a little while now for my business. I used an accountant to perform my first year company accounts for HMRC & Companies House.
What I have found is that what I have in quickfile differs to what my accountant put into the first year accounts.

I am not sure how to resolve these issues for the 2nd year accounts, as I understand I need to try and get quickfile to match what was submitted so that I can use a quickfile enabled accountant going forward.

On the balance sheet I have differences in the fixed assets, creditors, net current liabilities, accruals and deferred income. The P&L sheet has a lot more differences including depreciation.

Can anyone help me work out how in quickfile I could resolve this (previous accountant is not being very helpful in helping me understand what he did given I do not have a degree in accountancy!)

My business is fairly simple in that I have bought some equipment (capex) using plant and machinery for depreciation, I then receive a monthly payment for rental of the machinery.

I hope this makes some sense what I have described, not sure if I can use journals to get this in order so that going forward I can get a quickfile enabled accountant to just run the simple report for year end reports to HMRC & Companies House.

Any and all help is much appreciated.

Thanks,
Sunny

The previous accountant should have done adjusting journal in QF too to match submitted accounts with QF, that is not a pro job, but it can be done by a new accountant, you might have to pay a little extra for it or you can do it yourself too

If your accountant won’t give you the year-end adjustments to make in order to agree your QF accounts to what they filed, then you can work it out yourself. You would need to run a trial balance in QF at the date of your previous year-end and compare it with your accounts. Ideally your accountant should provide you with a closing TB but you can put together a summary from your accounts (it’s essentially just the P&L and the balance sheet combined).
The accounts won’t show as much detail as the trial balance so it’s best to obtain a TB from your previous accountant if you can. As part of the handover to a new accountant, this is the minimum he should provide.

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Hi Omer & Claire,

Many thanks for your response, I am attempting to get the trial balance from my accountant, hopefully this will help me resolve the issues.

Thanks

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