Updating business type from sole trader to limited company

We started off as a sole trader business and now changing to operate as a limited company. We would like to keep the current data, incl. customers, quotes, etc. How can we update the Business type from sole trader to limited company?

You can’t switch your existing QuickFile account from sole trader to ltd - you need two separate accounts as they’re two distinct legal entities and the records of the two must be kept separate. But @QFSupport are able to copy your client and supplier lists over from one account to the other to help ease the transition.

What will happen to the quotes and notes on the old account?

Hello @thwcleaning

As you can only link and email address to 1 QuickFile account, you will need to sign up using an alternative email.

The old account will remain open until you close it.

Could you please confirm whether and how we can transfer the settings, estimates, client details, queries and settings, recurring invoices, invoice settings and previous invoices etc.?

Hello @thwcleaning

We can copy over client and supplier accounts for you.
You would have to link you HMRC tax account to the new company

All queries, recurring invoices previous invoices are for the old company (different legal entity).
You should start invoicing using the new company details on the new account as of a set date when you ltd company is registered.

You can retain access to the old company for reference, historical purposes and in case of an inspection

Previous invoices must be kept separate but I can see the argument for transferring outstanding estimates from the sole trader to limited account as presumably the new company will honour quotes from the previous ST business.

Absolutely, seeing estimates would be very relevant.

Could you please let me know where can I request that these are copied over?

Hello @thwcleaning

Estimates can not be copied over unfortunately.

These will have to be entered manually.

My question was a reply to your earlier message:
“We can copy over client and supplier accounts for you.”
Could you please let me know where can I request that these are copied over?

Hello @thwcleaning

I have sent you a private message

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