Hi there! I seem to have made a bit of a mess of my bank accounts and was wondering what is the best way to go about sorting it all out?

Hi there! I seem to have made a bit of a mess of my bank accounts and was wondering what is the best way to go about sorting it all out?

  1. alan.j.bissell15 August 15, 2016
    Never mind. I managed to delete all my imported transactions. Thanks.

1 answer

Peter Connor Staff August 15, 2016

Cool – let me know if you have any queries. The EU has brought in regs last year that Banks have to provide a feed. So hopefully soon it will be done.

  1. alan.j.bissell15 August 15, 2016
    Yeah that would be useful. Actually I do have one question. When I first started with bullet I began recording transactions to the default bank account. Is there a way to merge two accounts or some such as I can't seem to delete or affect the default account?
  2. Peter Connor August 15, 2016
    You can just rename it, no need to delete it.
  3. alan.j.bissell15 August 15, 2016
    I see. The thing is is that I have also seperately set up my two other actual accounts. So now I have my personal current account, business current account, and then the default. I have foolishly allocated transactions to each of them though is the main thing..
  4. Peter Connor August 15, 2016
    Are you vat registered?
  5. alan.j.bissell15 August 15, 2016
    No unfortunately not, I have only been trading as a sole trader for the last 4 months odd and thought it best to wait till I was approaching the cut off point beyond which you have to register.
  6. alan.j.bissell15 August 15, 2016
    Is that something that would help me here?
  7. Peter Connor August 15, 2016
    Nope it just changes my answer.
  8. Peter Connor August 15, 2016
    Ok so there is n easy way to get around this like a bulk move button.
    You'll need to click on each invoice/bill in that bank statement and change the "payee", to the correct bank account.
    So the process would be like this.
    Invoice>Edit>Change Payee>Pick Date>Review>Save.
    *Make sure to remember the date of payment when you're editing it. You'll forget and it trust me.
  9. Peter Connor August 15, 2016
    The payee is your bank account, credit card, employee.
  10. Peter Connor August 15, 2016
    Vat doesn't really impact anything outside of it saving you money. We automate all the VAT returns you just need to upload them into ROS and that can be done inside Bullet.
  11. Peter Connor August 15, 2016
    What kind of business do you run?
  12. alan.j.bissell15 August 15, 2016
    Ok that's great thanks. My own fault really!
  13. alan.j.bissell15 August 15, 2016
    I'm a freelance web developer believe it or not.. ;)
  14. alan.j.bissell15 August 15, 2016
    I hadn't anticipated earning so much so quickly and sort of felt VAT was a ways down the line.
  15. Peter Connor August 15, 2016
    Cool. I use to be too (well I built websites but didn't do the dev).
    Well that's a good problem. You should probably move to Limited Company. Have you any clients outside of Dublin?
  16. alan.j.bissell15 August 15, 2016
    Well what do you know?! Ha ha! Yeah it's not bad at all. I don't really have clients outside of Dublin, I just picked up a short term contract with a really nice day rate! There is potential for foreign clients though. It's something I'll be chasing up in one way or another if even only through freelancer portals etc.
  17. alan.j.bissell15 August 15, 2016
    Would you advise going limited and registering for VAT then?
  18. Peter Connor August 15, 2016
    Sure, so with limited company you can claim mileage. Mileage is a way to pay yourself tax free. So this money is free money it comes out of your tax back into your hand.
    Here is how easy http://recordit.co/6llL8MN9zh is to pay yourself and extra €300, that's €3,600 per year, that's a nice holiday every year for free.
    Your "Client", doesn't have to prove anything nor do you. Everything we ask you in Bullet is enough.

  19. alan.j.bissell15 August 15, 2016
    Great advice! Thanks for your help Pete.
  20. Peter Connor August 15, 2016
  21. Peter Connor August 15, 2016
    Quick Q Alan.

    We're about to do a mail shootout to a tone of Dub Dev's. Any ideas of what they might like to get for free. We we're going to send them an intro to our 100k doc. Most web dev's always have an idea for a product in their head is that something that would interest you or do you think there is something better?
  22. alan.j.bissell15 August 15, 2016
    Hi Pete,
    Well certainly as a developer I am always interested in API's perhaps particularly when it relates to an Irish based one that could potentially be "leveraged" for clients in Ireland.
    Maybe some kind of brief API guide or introduction document?
    I know it's up on the site but it might at least get people looking at a mail out where perhaps otherwise they might not.
    Just a suggestion.
    I've certainly considered the implications of building in finance elements to client sites using the bullet api so it stands to reason that others might feel similarly once they are aware of it.
    Hope that isn't too silly an idea!
    Thanks again.
  23. Peter Connor August 15, 2016
    Hi Jonathan,
    Sorry I was calling you Alan from your email. Thanks for the idea, sadly accounts sends people asleep. But, I might put the API up there. God idea.

  24. alan.j.bissell15 August 15, 2016
    Ha ha! No worries, I blame my parents for the confusion... Yeah it must be fairly tough to market alright. I don't envy you that one! Hope it goes well anyway. All the best, Jonathan
  25. Peter Connor August 15, 2016

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