Hello,
I have been using QF for a couple of years. My banking account and the current account on the QF don’t align. I first started using QF as an experiment to get away from using excel spreadsheets. With the new Making Tax digital regulations coming into play in the April 2026 I want to do it properly. I have tried setting up a new current account and I have also tried reconcile but according to QF I’m still £35k in credit in my bank (I wish!). Is the easiest way to delete my QF account in April next year and start again? Can I download all my accounts to keep as records?
When I started using this I was just playing but now I realise what a powerful tool it can be but I have made a muddle of the banking side of things which is a shame. My invoices and purchases are correct I just want to get is all aligned so that when I withdraw money for personal use (pay myself essentially) my bank accounts and credit cards all add up. I make purchase on trade accounts and and credit cards which are not listed on QF. Basically I run all my purchase through the current account Nominal code 1200 and I don’t put in personal purchases, basically if it’s tax deductible I enter it into QF, if not I don’t.
I have now got another bank account to use as a personal account and have a bank account which I’m only going to use for ‘business’ purchases.
So that I am ready for April 2026, how do I sort this out? Hope this makes sense.
Thanks
Patsy.