In 2015 due to a bad handover and an inexperienced person entering data on the system we lost the integrity of the data and only used it for sales data since last summer. Now I want to resume using it with a fresh start for everything other than sales in Jan 2016. Can you offer advice as to the best way to do this? Maybe open another company and enter an opening balance sheet ? Journal in amendments to get the proper opening balance sheet?
Ok so there are a couple of things. The main thing is that you’re accounts matches your bank.
There are also a number of ways you can migrate. Do you just want a clean slate from your last tax return or do you want all the historical data too?