Hi you recently told me -
There’s nothing wrong with having your personal account in Quick File, you just need to make sure that any non-business entries are either tagged to the proprietor drawings account, or even better deleted.
So i have kept our personal account in and have been deleting any non business entries - however my statement balance stays the same so is incorrect - how do i post an entry to correct this?
Well in general you can never get your statement on Quick File to match your actual statement when you’re mixing in personal items, then deleting them. But then there’s no problem with that as personal items should not be in your accounts, the method of transferring to the proprietor drawings account will allow you to keep an accurate balance if that’s what you prefer.
The best solution long term is always to keep the two completely separate, from an accounting perspective it makes things much clearer.
Thanks will delete my personal account and do that separately - just a final question as our mobile phone is paid on a direct debit through our personal account how will is put this through my business when this account is deleted?
You can still retain your personal account on QF, just only add those items related to your business and delete everything else.
This topic was automatically closed after 2 days. New replies are no longer allowed.