On the 1st of April next year I would like to start with a clean slate. A brand new Quickfile. In all honesty I still prefer an excel sheet it was simple and honestly represented my in and outs for the year as a sole trader. I bought this and got the bank tagging import thinking it would be easier but no. It just confuses me. I had enough of trying to make everything balance digitally when an excel was easy. For example i have credit showing in my ‘work’ account but i need to pay for van repairs which can’t be claimed cause i already claim ,mileage so i transfer to proprietor account but if i tag that as a outgoing to a garage that shows on reports which is not allowed but if i detag or delete it makes everytthing wrong. I have now figured that if I then have to move an amount into Proprietor i can tag it as something else, no invoice and this I THINK doesn’t show on reports , brilliant, whilst still reducing the balance is this right?
If so my solution is to start again from the beginning of my next financial year. I want the bank tagging removed completely so i go back to inputting ONLY what has been used for business.
Can I do this and save all the images or shall I just print everything and start again with a brand new account? also do you provide any training course like Quickbooks cause I need it!
Also do you provide any courses like Quickbooks do cause i need it.
Sorry to hear you’re having a few issues here, but we’ll try our best to get you on the right path.
There are essentially 2 elements to the bookkeeping - the profit and loss and the balance sheet. Balance sheet shows your assets and liabilities (such as what the business owns, how much money it has, and what it owes), whereas profit and loss reflects on your trading activity (how much has been invoiced).
The proprietors drawings account appears on the balance sheet as it’s money taken out of the business. The bank account is there to help track this, but there is another code which can be used. I put together a little guide a while back which may help - find it here. You could tag directly to this other nominal code instead of the bank account if you wish.
You can reset your account and delete all data if you wish, although this isn’t reversible. These two guides may help: