Transfer from Wave to Crunch Free

paul22

I am about to transfer from Wave to Crunch.

I have not yet registered as a sole trader in the UK but will soon when business increases. The information in wave is only for my records and nothing has been submitted as I am not yet registered as a sole trader.

I only have the following in Wave: -

5 invoices (all paid), 1 customer, 10 Suppliers, 11 products (Sales) and 22 bank transactions.

My first banking transaction was on 10th Dec 2018 and the last was on the 12 November 2020. First invoice was 27th April 2020 and last invoice was 11th June 2021.

I plan to manually create everything in Crunch as very little in wave.

I am not experienced with accounts.

My questions are: -

Can I create the invoices and back date them?

When I have manually created everything, do I need to do anything else such as bank reconciliation, enter any balances etc?

TomFromCrunch

Hi Paul, welcome aboard!

You can manually backdate your invoices as far back as 6th April 2021.

Since you haven't registered for personal tax yet and your transactions started in 2018/19 tax year, it's worth speaking to HMRC to see if you need to backdate your registration or not. Their main Self Assessment line is 0300 200 3310.

Re: reconciliation: You'll need to enter your bank account (personal or business depending on what you currently use). We recommend reconciling as regularly as you can to make sure everything is recorded.

We've got plenty of written/video guides in our Help Centre to walk you through it all step by step - if you have any questions one of our team of experts will be happy to chat 😃

paul22

Ok, thanks Tom

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