My Trial Balance

Accounting
1

I use quickfile solely for my VAT returns, however I now would like to use it for my accounting too. I clicked on the trial balance and it’s so off I’m unsure what I’m doing wrong. My expenses are all wrong but it’s all there in my VAT. Help

2

Hello @MrsT

You would need to decide when to do it and enter you opening trial balance.

For example at the start of your financial year you would have had a balance sheet with what your business is worth.

Bank balance = £xxx
Stock = £xxx
Retained earnings from previous year = £xxx
etc etc

This sort of information needs entering as a starting point.

You may find this helpful
https://support.quickfile.co.uk/t/importing-data-from-another-system/8936

You are best seeking advice from your accountant regarding this.

Please keep in mind we are not registered accountants nor bookkeepers

3

Thanks Steve,

That explains it, thank you very much

4

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