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paul32
January 7, 2020
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Changing legal status to ltd company. All assets and creditors to be transferred. New bank account required but old one still needed. Best way to do this?

  • January 7, 2020
  • 2 replies
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Can I have two bank feeds. Can I change financial year end?
Best answer by payment after leaving

Hi paul32

 

In this instance we advise that you contact an accountant. It is possible to carry on using the same account, changing the name etc or create a new subscription. If you create a new subscription you can run a trial balance report in the old account and enter a trial balance journal in the account, creditors and debtors accounts balances will have to be entered individually.

You are able to connect numerous bank accounts and the financial year is generated from the month that is entered in the first month of the financial year within the advanced section of account and settings.

2 replies

P
payment after leavingAnswer
January 7, 2020

Hi paul32

 

In this instance we advise that you contact an accountant. It is possible to carry on using the same account, changing the name etc or create a new subscription. If you create a new subscription you can run a trial balance report in the old account and enter a trial balance journal in the account, creditors and debtors accounts balances will have to be entered individually.

You are able to connect numerous bank accounts and the financial year is generated from the month that is entered in the first month of the financial year within the advanced section of account and settings.

P
paul32Author
January 7, 2020

Thanks for the reply. I am an accountant. I wanted to avoid having to enter hundreds of sales invoices into the new subscription account. I am still wondering

MJoy_D
MJoy_D
January 7, 2020

You're welcome, @paul32. It's our pleasure to help.

 

You can add those invoices by importing them. You'll just need to add all the information in a spreadsheet. Here are the required columns:

  • Invoice number
  • Customer
  • Invoice date
  • Due date
  • Item amount
  • Item tax code

Then, go to your Account and Settings to turn on Custom transaction numbers. From here, you can now upload your spreadsheet. 

 

See this article for detailed guidance: Import multiple invoices at once. 

 

Let me know if there's anything that I can help. I'm always here to assist. 

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