Until 2016 I used the standard excel sheet. I enjoy the features Quickfile offers and as I learn more about accounting and the various reports i find them useful with regards to how my business is progressing.
So my question is if i take the time to input old financial years so benefit from the reports automatically created is there any potential problems you can foresee in it affecting the current accounts?
Will i be able to lock each financial year off as I go etc so it doesn’t affect this year…
You can if you like and have time enter details or just previous years P&L and BS OR just opening balance sheet for current year. Reporting depends how much data available e.g if you just input P&L and BS for previous years there wont be any aged debtors available for previous years, if that is not important then opening BS fr current year is best way forward i guess
Sorry for the abbreviation, BS means balance sheet
I was just going to type thank you but had to write more than 20 characters. Thank you