hi peter put me in touch with brendan brady and we had a good discussion yesterday, however i have a question or two about using bullet in sole trader capacity, and want to know if i need to create a brand new account when i transition to ltd company? how easy that process is etc – eg importing client info, product info etc

hi peter put me in touch with brendan brady and we had a good discussion yesterday, however i have a question or two about using bullet in sole trader capacity, and want to know if i need to create a brand new account when i transition to ltd company? how easy that process is etc – eg importing client info, product info etc

1 answer

Peter Connor Staff November 14, 2016
Public

Hi Pete,
So our limited company and sole trader products are completely separate, cause they’re completely separate legal entities. The accounts is very different for each.
There is no import mode, but you can create opening balances in bank accounts etc. The sole trader account is free so you just keep it open for historical information.

Pete

#answer-4290
  1. Accounts17 November 14, 2016
    thanks - just to be clear - so if i create a new sole trader acc for my photographystudio business today, and then say in 8 months, i change to ltd company, I will have to manually re-enter all my clients contact info all over again?
  2. Peter Connor November 14, 2016
    Yep. Or you can export your list and get someone on Fiverr or use our data entry guys.
  3. Accounts17 November 14, 2016
    aha - good thinking thanks!
  4. Peter Connor November 14, 2016
    Cool - There is always away.

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