Hi, I am a very small sole trader trying to do my first year accounts. I do not have a business account or a business credit card so use my personal one. When the statements are streamed into Quickfile all my personal purchases came through too. I deleted these, which I now think I shouldnt have done as my CC is showing a positive balance of over £3000? Can you help? Thank you, Claire
Please see the " Mixing Business and Personal Transactions" section of the below article
Thank you very much Steve
Hi Claire, The article about Sole Trader Bookkeeping - The Basics that @QFSteve referenced does suggests “delete all the personal entries” but you want your credit card transactions to balance in QF.
Rather than deleting your personal expenditures I suggest that you do a bank transfer for such transactions to your “Proprietor Drawings Account” this will allow for your credit card to reconcile to your statements.
With regular personal expenses these can be automated by setting the bank transfer in the bank tagging rules.
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