Please help! I was completely unaware that my account would be classed as a large account but I turns out that since my personal account is linked in on the bank feed plugin (I don’t have a dedica business account as I don’t do enough trade to justify it) is there a way to stop it adding ALL my account activity to the ledger or to notify quickfile to avoid being classified as large??
When the transactions are imported, if you delete them that would be enough to keep the figure down.
What you may find however is that it’s not just the bank boosting it up. There is a little report you can use to see where the most activity is:
http://community.quickfile.co.uk/t/important-changes-affecting-large-and-extra-large-accounts/8260/134?u=qfsupport
If you account does hit the L category, you will be notified and have a chance to defer it for 3 days before upgrading.
I hope that helps!
I do see a lot of untagged transactions on your bank account.
I would recommend just periodically removing all transactions on your bank account that are unrelated to your business activity (i.e. items that you cannot reclaim tax relief on). As a sole trader this will get your ledger count down by quite a bit, assuming of course that many of those items on your bank are not business related.
Hi Glenn,
So I’ve very diligently gone through and deleted numerous entries - finishing them all of is going to be a big job.
One of the problems with this (I winced when I noticed) is that my account balance is no longer accurate!
Is there no other way to prevent my account being classed as Large??
As a sole trader it doesn’t really matter for accounting purposes that the bank balance doesn’t match but yeah, if you want it to match then the only way to do that is to list all the transactions (or at least a daily adjustment for the net effect of non-business transactions) tagged as a transfer to or from drawings, which will add two to the ledger count for each transaction.
Well long-term I’d just set up a separate bank account - short-term I’m in a blind panic - tax returns are looming and work’s still busy.
For a sole trader tax return the main thing that matters is the profit and loss report. For that to be accurate you’ll need to either delete all your non-business transactions or tag them to drawings - untagged transactions have their double entry in the suspense account which I think appears on P&L.
1 Like
As @ian_roberts pointed out, the suspense account (which is made up of untagged transactions) will appear on your P&L report.
Your best bet to keep the ledger count down is delete the un-needed transactions (such as personal transactions). It will mean your bank balance won’t match, but your P&L will be correct. Tagging them as drawings will mean they’re included in the ledger count.
However, the best way would be to have a dedicated business bank account.
Is there a way to bulk delete untagged transactions? I can’t seem to sort them by tagged/untagged.
Providing the period isn’t locked (for example, you haven’t run the year end tool), or it isn’t part of a journal you can delete the min bulk by ticking the boxes next to them:
And then click ‘Delete Selected’
If you click the top tick box (next to ‘Date’), it will tick all of them shown on that page.
Tip: If you want to delete only the untagged transactions, click the red part of the pie chart in the top right first before ticking any boxes
Thanks for the help. But of a strange thing happened though - I spent the last few days getting my account below the 1000 ledger entries mark. However this morning I logged in to see it had jumped up to around the 1170 mark. Only two new transactions on the bank feed. What’s the logic here?
If you use the report I highlighted in the second post above, there’s a second table further down on that page that groups the count by days.
What does it say in terms of the number of ledger entries created in the last few days?
03 Dec 2015 72
02 Dec 2015 108
01 Dec 2015 10
Only two new items on the bank feed though - trying to make sense of where its got this figure from?
If you can send a private message on here to let either one of us know your account number we can probably get some clarification for you.
Sure thing - how do I do that? 
Hi David,
I’ve just enabled this functionality for you.
Click on our little image and click on ‘Send Message’
This topic was automatically closed after 7 days. New replies are no longer allowed.