QuickFile: How to account for +ve balance in DLA brought forward?


As discussed at Recording use of premises as an expense - #3 by OgilvieNash, we were previously using the DLA to accrue funds owed by the company to me (partial rent and bills, etc.).

Following your advice, I will from now on record these transactions differently (our previous package did things behind the scenes to simplify this, but I now understand how I must now do it with QuickFile). However, I am now in a position whereby the DLA trial balance brought forward needs accounting for.

Please advise:

  1. How I should go about recording that +ve balance in QuickFile correctly as a debt owed to me?
  2. How I should categorise the existing transfers to me (which reduced the DLA balance), from the imported bank statement:

  1. How I should record further payments to me from the company, in order to reduce that debt?



I would recommend you liaise with an accountant on this one. We aren’t able to provide specific advice relating to accounting methods here for obvious reasons.

I am however happy to leave this open for any others who may wish to provide guidance on this matter.

Thanks @Glenn - I didn’t quite know where the boundary between advice and accountancy was on this one.

No problem, we try to give general guidance where possible but some aspects of accountancy are quite complex and also very specific in their nature. We try to use the forum to cover general topics which are likely to benefit other users in the future.

As we open our system up to accountants and bookkeepers then we may see more input from new members of the community on these sort of subjects. We will always leave these questions open for others to chip in.

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