Hi, I have been using quickfile for a few years, I’m a sole trader, very small business. I don’t actually use it for invoicing, just as a way of recording sales and expenses. I match it to my bank account but don’t download the data or anything. My accountant just uses my profit and loss sheet for my tax return. I just noticed that my business type is incorrectly showing as limited company. Does this make any major difference? Is it possible to recategorise it? I don’t fancy re-inputting a years worth of data. Thanks.
It’s not possible to change it I’m afraid. The differences mainly come down to the a few of the functions (e.g. sole traders have a drawings account rather than a director’s loan account) and a few of the nominal codes are different.
The profit and loss report should largely be the same.
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