Incorrect gocardless holding account sum

Support
1

Hi,

My account for gocardless is showing positive balance but should be 0 because gocardless automatically transfers into my natwest every month.

These transactions are also tagged correctly.

I suspect there is a permanent positive balance because when I transferred from a self employed quickfile account, to then a LTD separate account, I think there was a value carried over.

Could someone look at my account and check if possible? Thanks

Account: 6131509840

2

Hi @tom_44

I’m afraid we’re not able to help with individual bookkeeping or accounting queries, but we can offer general guidance. If you don’t have a bookkeeper or accountant, please do let us know as we can point you in the direction of some that are familiar with QuickFile.

Common issues can include:

  • Forgetting to account for the GoCardless fees as part of the transaction
  • Forgetting to add the transfers to your main bank account
  • Missing payments

It may be a good idea to reconcile your QuickFile account against GoCardless too, just to make sure everything is accounted for.

3

Hi, can you check if you can see if when I started my account if the go cardless number was at 0?

Thanks

4

Hi @tom_44

All accounts start at 0 unless you enter an opening balance.

If you view a bank account, you can either do an advanced search for the date you opened the account, or navigate to the last page of the bank statement using the page controls at the bottom or top of the screen.

5

Hi,
When I moved from soletrader to LTD into new quickfile account, gocardless integration transactions (the bank account) which is essentially automated, only has transactions dating back to 23/05/2018.

In order to settle my accounts, I need to populate the transactions I had from 01/04/2018, which was the start of my account date.

Therefore, what is the best way to put in these previous gocardless entries?

Thanks

6

It depends on the volume of entries. If you only have a few, I would enter them manually. If you have quite a lot, you could export the data from GoCardless and import it into your bank account on QuickFile, using the “Other” option for your bank.

However, the money from the sole trader business should ideally be kept separate from the limited company. If this was deposited into the company’s bank account, then this would technically be a director’s loan and tagged as such.

I’m not an accountant, so I highly recommend checking with yours to ensure it’s all done correctly.

7

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