I have been operating as sole trader for years, and using Solar for a year. Now I have converted to a Ltd company and am starting with a new (empty) bank account.
Should I start a new company file entirely? If so, can I copy over customer records and unpaid invoices? Can I copy over my categories etc.
Or am I over complicating things. Should I just create a new bank account in Assetts?

A big problem is that I have not been using the program to balance accounts and reconcile bank accounts - just using it to keep track of ins and outs, and do my VAT. So now I need to start doing it right! My accountant is already very frustrated!
Thanks

Hi James,

I recommend you create a new data file for your new company.

To transfer your customer and supplier details:
1. Open your old data file and click menu File > Export To > Comma-Separated CSV File.

2. Untick all options except 'Customers' and 'Suppliers' and click 'Export'.
3. Enter a file name and click 'Save'
4. Open your new data file and click menu File > Import From > Comma-Separated CSV File
5. Click 'Browse', select the file you saved in step 3 and click Open
6. Click Import to import the customer and supplier details

I do NOT recommend you transfer your accounts in the same way because some of the accounts are specific to self-employed businesses (not companies). Instead, create new accounts as needed by clicking menu File > New > Account. Note that Solar Accounts includes an account called 'Cheque Account' which you can use to represent your main bank account. You may want to ask your accountant what other account he/she would like to see.

I'm not sure about unpaid invoices - strictly speaking these are owed to you personally, not the company, because they were issued before the company existed. I don't know if they can be 'transferred' to the company - you will need to ask your accountant about this.

Regards,

Hi, Saw your query. Hope you don't mind my comment.
A Ltd Co is a separate entity in Law and has it's own identity, my feeling is that you should wind up as a sole trader, any outstanding Sales and Purchase invoices would be accounted for in your final accounts in your Debtors and creditors. You will have to declare on your personal Tax return that you have ceased trading as a Sole Trader anyway. It would probably be best to setup your Ltd Co as a totally new set of accounts. Again the Vat man would consider it as a new company although you can apply to retain the same Vat No. As regards assets you can sell equipment etc to the new company, any adjustment between the selling price and Capital Allowances claimed can be accounted for in your final accounts with a Balancing Charged if necessary. Your accountant should be able to help you here.