Accounting software - 2 stealth accounts

[Kiroshi]

So had my first VAT related meeting with the accountant which has left me in a much more positive frame of mind, following his confirmation of flat rate scheme.

He suggested using quickbooks or other software which I would now need. He told me you can import all the sales over. I am only needing to do the accounting for 2 of my accounts as those are the ones that will be VAT registered, limited company etc. Would I be able to add both accounts to quickbooks or would that link me?

What do people do in these situations, rather than manually inputting numbers?

[GreenBean]

Quickbook FTW!!!!

[Kiroshi]

does it let you add several accounts without concern?

[e2free]

Originally Posted by Kiroshi

So had my first VAT related meeting with the accountant which has left me in a much more positive frame of mind, following his confirmation of flat rate scheme.

He suggested using quickbooks or other software which I would now need. He told me you can import all the sales over. I am only needing to do the accounting for 2 of my accounts as those are the ones that will be VAT registered, limited company etc. Would I be able to add both accounts to quickbooks or would that link me?

What do people do in these situations, rather than manually inputting numbers?

ltd company and stealth?

how did you mange to pass paypal?

[Kiroshi]

Originally Posted by e2free

ltd company and stealth?

how did you mange to pass paypal?

I have had extensive conversations with HMRC and all they care about is the numbers not the names. Where is the money ending up and who is spending it. Paypal dont need to know anything about me being ltd.

[e2free]

Originally Posted by Kiroshi

I have had extensive conversations with HMRC and all they care about is the numbers not the names. Where is the money ending up and who is spending it. Paypal dont need to know anything about me being ltd.

Thanks for sharing but as soon as you convert account into Ltd paypal They automatically ask for many documents

[Kiroshi]

Originally Posted by e2free

Thanks for sharing but as soon as you convert account into Ltd paypal They automatically ask for many documents

Paypal wont be knowing anything about my ltd company mate

[nikitacan]

hi,can you help me to manage 2 account ,real and stealth.I'm new and have no clue,i read a lot but can't find the needed info

[e2free]

Originally Posted by Kiroshi

I have had extensive conversations with HMRC and all they care about is the numbers not the names. Where is the money ending up and who is spending it. Paypal dont need to know anything about me being ltd.

when it comes to tax inspection these numbers will be useless, they want to see invoices on the company name, otherwise anyone can use any compnay invoice to avoid tax

you ok as long as they not ask anything but once they did game over

[arktech]

hmrc want to know how much money you have made in profit after expenditure and or losses and ensure you pay tax on the profit. if you have made a loss then you or your accountant can declare a loss and get tax back on the sum of money you have lost from other taxes you might have paid ie paye or investments etc.

[Fyyy]

Is it ok to change paypal to business after few months of stealth? or wait for them to ask to change what the best way...and for ebay too? ihave had tstealth ebay and paypal for 3-4months

thanks