Hello - I am looking to transfer from Sage 50 Accounts (client version ie not cloud based) to QF. I am aiming to transfer at the end of January which is both our year end and also the end of a VAT quarter. I have imported our customer details into QF via a CSV but no financial information. Some customers will have £0 balances but most will still be owing us money as we have invoices going out right up to the end of January. How do I deal with this - do I need to re-create all the unpaid invoices in QF? If so, those invoice sent out prior to the end of January will be included in our VAT return which will be done in Sage. So I’m not sure what I should be doing in QF. Also can I reset invoice numbering to carry on from the last invoice in Sage?
Any help would be appreciated.
Regards
Helen
Hello @bts
do I need to re-create all the unpaid invoices in QF?
You can enter or import them
Are you on Accrual or cash accounting?
On Accrual/Standard
The invoices need to be entered to be included in a vat return
On cash accounting
The invoices and payments need to be entered to be included in a vat return (it uses the payment dates to assign the invoices as this is the tax point)
For older items that have already been included, these can be excluded from your first return by setting the vat filing start date (in Reports > Vat Return Settings)
Also can I reset invoice numbering to carry on from the last invoice in Sage?
When you create a new invoice you can overtype the invoice number with the first number you wish to start at then it will continue counting from that point (Which is similar to Sage if I remember correctly).
Hello Steve
Thanks for the prompt reply. We are on accrual accounting. These invoices will all be dated prior to 31 January so will be included in the VAT return Nov-Jan which we will be doing in Sage sometime next month. If I re-create them in QF won’t they be included in the VAT return I do (in QF) for Feb- Apr when that becomes due? Thanks for the invoice numbering bit.
Hello @bts
For older items that have already been included, these can be excluded from your first return by setting the vat filing start date (in Reports > Vat Return Settings)
E.g. set it to 01/02/2024
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