MTD switch over - previous years closing balance

Accounting
1

Hi,

We run a business via eBay Paypal.

For a few years prior to needing to switch over to MTD we were using spreadsheets to compile the accounting, VAT returns etc.

We then chose quickfile which has massively simplified this process. Its the first year our accountant will be using Quickfile to compile our accounts however he has advised me that we need to get the closing balance sheet figures into quickfile for the accounts to 30/6/2018 in order for the accounts that are now due to make sense.

Is there an easy way to bring this in and is he right in needing to do this?

2

Yes he’s right. Yes it’s easy. But only you and your accountant will know the figures as they will be on your spreadsheet.

3

I’ve got the figures just need guidance on where to input them - can you assist??

4

Reports - Journals. Create a Journal with your closing date and input the figures in the relevant nominals.