Transferring balance between accounts

Hi there

Although I’ve been using quickfile for over a year, I only have a small business (sole-trader) and 'm not very good with accounts but am learning a lot as I go along!

When I first starting using the program, I was very confused and logged all of my income and expenditure as going in and out of the Proprietors account, instead of allocating it to my current account and then using the proprietors account as it should be needed (for example, to transfer my wages). Is there a way that I can fix this and transfer the whole balance to the current account without causing too much disruption to my accounts? What is the impact of doing this and if you can give simple instructions for how to do this, it would be much appreciated!

Thanks

You could either journal the current balance from one to the other, or you could just add a transaction and tag it as a transfer.

As you’re simply transferring the balance on QuickFile, it shouldn’t have any effect on profit/loss, balance sheet etc.

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There is a way to move mis-posted transactions in bulk from one nominal account to another, see this thread for details:

http://community.quickfile.co.uk/t/bulk-move-bank-transactions-from-one-account-to-another-account/5948/2

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When I try to do this, it doesn’t allow me an option to move it to Current Account (1200). I’m trying to move all of my transactions from Proprietors Bank Account to Current Account. Any help appreciated!

There are some restrictions on re-coding items using this tool. Do you see any error message?