Sole trader to Ltd question

Support
1

Hi All,

We are soon to become a limited company and I have a question for you all if you could help please.

When we transfer to ltd do we just alter our status in Quick file settings or will I have to open a new account ?

Thanks in advance

Dave

2

Hi @DC123

You will need to set up a new QuickFile account as both types use different nominal codes, and trading activity of each should be kept separate (for tax and legal reasons).

However, once you’ve set up the new account, if you would like to send me a private message (click my name and then ‘Message’) and include your sole trader account number and limited company account number, then I’ll arrange for the suppliers and clients to be copied over for you.

I hope this helps

3

Hi thanks for the quick reply.

I’ll do this when the time comes.

Many thanks

Dave