I have just paid for a power-user subscription. It may need to be modified - is this possible?
I am importing personal bank statements from the last few years to retrospectively set up my books for my business as a sole trader.
From April I started trading as a Limited Company, and want to set up and use this account going forward.
Reading through the forum here, I now understand the need to have two different accounts, for legal purposes. My issue is what is the best way to do this? I have just activated the power-user subscription for the old sole trader account, but it is the, as yet, not-started, limited company accounts which I will want to use going forward.
Should I use the Affinity tool? and run two accounts for the two entities in one login area? Or should I delete the sole trader account, and request the power-user subscription be transferred to the as-yet not-started limited account?
My legacy transaction imports for the sole-trader activity probably amount to 500, and going forward, the limited company will probably amount to 500 transactions annually. My objectives are to have both sole trader legacy accounts in good shape in quickfile, and to set up the limited company accounts as soon as possible, without paying twice for quickfile services, if possible!
Hope this makes sense, and a big thank you in advance to any kind admin who cares to help!
Each transaction is going to create more ledger entries behind the scenes so it sounds like all accounts will hit the threshold of requiring payment. If you don’t need the extra features of the power user subscription then Affinity is probably the way to go. In the future you can detach these accounts (to save the monthly fees) and leave them as legacy accounts where they won’t need a power user subscription if you’re not using them.
To save some faff in the future you’d be better off setting these accounts up separately now then they can easily be attached/detached from Affinity as and when.
You may find you would benefit from some of the power user subscription features in the future on your Limited account anyway, and do you need to enter all the previous transactions for the sole trader accounts?
Thanks. It seems, even though the Affinity programme was not intended for folk in my situation, it would suit me well, at least for a couple of months whilst I get both the legacy sole trader data entered and sorted, and the limited company up and running. At that point, I can keep the sole trader account inactive, and switch the limited account from the affinity programme to the power-user one, should this seem appropriate.
To this end, is it possible to have my power-user and bank-feed subscription re-imbursed so that I can start this process again, under the guise of the affinity programme?
Hello - I’d love to know if you could cancel the power user subscription on the sole trader account, which I started two days ago, and have not used, please, so that I can set up an affinity account to take account of my two account needs.
If you could send a private message to @QFSupport with your QuickFile account number and Affinity account details we can take a look at this for you. Affinity is a separate product to the standalone QuickFile accounts and is only more cost effective if you have more than 1 account, so it should be suitable for you.
We could transfer the subscription over to your new account, but again we would need you to send the details in a private message for us.