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Important changes affecting “Large” and “Extra Large” accounts

Hi Glenn (and all), I should start saying I agree with the new rule and as pointed by other members, it is a small fee that the Large/Extra Large businesses can easily absorb and enjoy a more complete product.
However I am a one man band and due to the way QF calculates account sizes and the way I deal with my transactions I find myself just inside the “Large” range.
This is not a complaint but rather a request for advice on how to change things on my end to better reflect my business.
I am a contractor and usually issue one invoice per month. However, most of my entries are of personal expenses with meals (I log each meal separately on my director’s loan account) and pay for my transport with the company’s bank card, so anything between 2 - 5 entries per day.
If I changed that to a monthly meal allowance and one transport allowance I imagine it would bring me more in line with my company’s size I image (besides freeing me the trouble of uploading meal receipts!). Is that acceptable from the accounting perspective? Is there a more effective way?

Thanks,

Renato

I can’t see a problem with what you’re suggesting, I obviously can’t go into the exact feasibility of the accounting methods, but there are cases where you can bulk load a bunch of expenses to a single invoice and reimburse later. This will reduce the ledger count as bank entries would typically consist of two ledger entries.

Hi Glenn,
I have logged in today and I have restricted access, I cannot view any accounts info for example, I don’t think we fall into L or XL but I cannot check, I can’t see where is will let me see? I do not appear to have the option for accounts / settings, is there some other way to check?

@duncanmayer we have not imposed any restrictions on accounts, it sounds to me like you have logged into a client account (i.e. a client listed on your company) rather than your primary admin account. If you send me a private message with some of your account details I can take a look.

hi glenn, anything is possible with me and computers! please can you tell me how I can pm you? thanks very much

@duncanmayer :
http://community.quickfile.co.uk/t/how-to-send-a-private-message-on-the-forum/7083

@Glenn,

Is there a specific date that this will start?

I just want to make sure I am ready for it

thanks

Jay

@jayjoynson it will be effective 1st of December. If you have an L or XL account without a Power User Subscription or Affinity account it will prompt you to purchase a subscription.

Hi Glenn

For those who are still in the medium range, in future if they become large … will there be some sort of alert to them to tel them that its now time to pay?

Thanks
Sameera

When you transition from Medium to Large you will be prompted to obtain a subscription when you next log in. We haven’t done this yet but we may add an option to “defer for 3 days”. This is in case you need to get access quickly in circumstances where you don’t have immediate access to a means of payment.

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that will be great, thanks

I’ve just discovered about the change to payment to large account. I’m really surprised that I’m classed as a large account as I am semi retired. I only had 15 invoices in 2015 and 7 in 2014. I have 1012 ledger items. so only 11 over the limit. I don’t know why I have that many, but how can I reduce them? In January I have to do all my self assessment and suddenly find that you are charging me £40 + I don’t make that much profit! But all my records for 2014 are in your system, so it looks like i’m stuffed. Any advice?

I’m looking through events… I don’t know where to find the ledger. I deleted a lot of entries. months ago. Does every thing you do including deletions count as ledger items?

@philpeel if you have a relatively small number of invoices the chances are the difference is made up from bank entries. Take a look how many bank entries you have, each bank entry will consist of two ledger entries.

If you’re a sole trader consider removing anything on your bank that is unrelated to your business activities. Also if you have a PayPal feed, check how many items the feed is importing and whether they are all business related.

The Chart of Accounts report and the underlying ledgers will give you a good overview of what is happening on the account.

Thanks I’ll take a look. If I delete entries does that still count as a ledger entry?

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No, when you delete ledger entries it will reduce your ledger count. If you journal ledger balances however it will add to your ledger count. Any account size changes will take a few days to filter through.

Hi Glenn

I have been transferring most of my L and XL clients to power user subscription.
I have opted not to go for Affinity as ultimately i want my clients to be owners of their QF accounts.
Most of my clients prefer this option.

Just one question regarding third party advertising.
I understand that this needs to be switched off in the settings.
But what about accounts due emails that come from QF i…e see below.
Will these stop or wording changed to reflect ‘contact your accountant’?
p.s. noticed typo in spelling of preparation!

Thanks
Sameera

Your Accounts are due in 42 days

We would like to advise you that your annual company accounts for xxx are due in 42 days.

QuickFile provide a full accounts filing service in partnership with Parkinson UK accounts for just £299 + vat, this includes the preperation and submission of your financial statements and corporation tax return (CT600), along with the calculation of your tax liability and payment dates.

To start your year-end checklist click here
No trading activity? File dormant accounts direct from QuickFile for just £19.99 + vat.

File Dormant Accounts
Do you need help getting your accounts up to date? Please get in touch and we’ll be happy to advise you further.

Late filing penalties start at £175, even if you’re just 1 day late. Avoid excessive penalties and act now.
If you would prefer not to receive these notifications in future click here
QuickFile

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The accounts and annual return reminders can be switched off within the privacy settings. If you go into the list of account settings you should see this option in the left hand menu.

Hope that helps!

Thats Great, thanks !!

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Interesting I just checked and I’m on exactly 1000 ledger items now :slight_smile: I think my PayPal was bumping it up. …each Paypal item also shows up in a Suspense account. Is that normal?

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Yes if it’s untagged the double entry will show in suspense. When you tag the item it will move from suspense to another code such as debtor control. There will always be two codes per bank entry.