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Using quickfile for my ltd company and rental business instead of Excel


#1

hi

im thinking of using quickfile for both my LTD company, and my rental buisness.

I currently have a LTD company which is a building and maintenance company.

I also rent out houses to private tenants which are all owned jointly by me and my wife.

I have a few questions regarding quickfile.

  1. Could i operate both from one quickfile account?
  2. Would i need to have two seperate quickfile logins and therefore keep both businesses seperate?
  3. I have somebody who inputs my day to day purchase receitps for me. If they put a purchaes receipt for some materials into my ltd company accounts, but at a later date i realise they are meant to be for my rental accounts can this easily be moved from one to the other, or would i have to actually manually delete it from one and manually input it into the other?
  4. Can i easily import a list of transactions etc from an excell spreadsheet?
  5. Do you users think it would actually be quicker and easier to use quickfile rather than just inputting a list of transactions etc into an excell spreadsheet and giving it to my accountant?
  6. i have just setup a gocardless account to collect rent payments from tenants which i assume might make things a bit easier with quickfile?
    thanks

#2

Hi @jimsters

I’ll certainly try my best to try and answer your questions.

  1. Yes. If you need to differentiate them completely, we offer a multiple trading styles feature which is available for accounts with a Power User Subscription.

  2. This depends. Are the two businesses legally the same, or separate? If the businesses are separate, then I would suggest using two accounts or your accounts could end up confusing and cause more issues than it’s solving. You don’t necessarily need two logins as you could use Affinity to manage this. This is a separate product which allows you to have 1 log in to access multiple accounts.

  3. If you’re using two different accounts then you wouldn’t be able to copy items between them.

  4. Generally speaking, yes. Excel can save files in a CSV file format which we support. Providing it matches the required columns, then yes it’s possible. Please see this guide for more information. Even if the CSV file isn’t from a bank or building society, you can import it selecting ‘Other’ as the bank account.

  5. I certainly think so, but I’m biased :slight_smile: . I’ll leave this one open to the community.

  6. Definitely! You can connect GoCardless agreements with clients on QuickFile, and then request payment via QuickFile too. So in your example of rent for properties, you could have a recurring invoice which would automatically be generated on a monthly basis, and that can also request the funds via GoCardless for you, and mark the invoice as paid. There’s more on this in our knowledge base too.

Hope that helps!