Moving a limited company from Sage, FreeAgent, a spreadsheet or any system other than Xero and QuickBooks Online? Bring it across with its trial balance. After the import, you upload the invoices and bills that were still unpaid through the inbox.
Before you start
Choose the start date. For a VAT-registered company, it's the day after the last VAT period the previous system files. If the previous system files the quarter to 30 June, Briefcase Ledger starts on 1 July. Run every report as at the day before the start date.
VAT: Briefcase Ledger supports standard (accrual) VAT accounting. A company on the cash accounting scheme or the Flat Rate Scheme can't be imported yet.
Permission: you need Financial Close → Create.
What you need
Trial balance as at the day before the start date, on the accrual basis, as .xlsx or .csv. If yours isn't read cleanly, download the template, copy your balances into it and upload that instead.
Bank statement balance of each bank account on the day before the start date.
Customer list (optional): a spreadsheet whose first row names the columns, with a name column plus email, address, town, postcode and country if you have them.
Aged debtors and aged creditors reports as at the day before the start date. You use them after the import.
1. Start the import
On the dashboard, click Add client, choose Limited companies, then Import from another system. The wizard saves your progress in this browser, so you can leave and come back.
2. Company
Enter the company name and its financial year end, and choose Sage, FreeAgent or Spreadsheet or another system.
3. Start date
If the company is VAT registered, enter its VAT number, how often it files and when the last VAT period the previous system files ends. Briefcase Ledger starts the next day. If it isn't VAT registered, pick any start date; the first of a month keeps each month in one system.
4. Trial balance
Upload the trial balance. Check that it says balanced, tick that it was run as at the date shown on the accrual basis, and click Continue. If a column was read wrongly, click Change how the sheet was read.
5. Accounts
Each account is matched to a Briefcase Ledger account. Check anything under To check, and hover the wand to see why an account was chosen. For each bank account, enter its sort code and account number and check its statement balance.
6. Customers (optional)
Upload your customer list so you can invoice them from Briefcase straight away.
7. Review and import
Check the summary and click Import. Nothing is created until then, and you can undo the import until the company goes live.
After the import
The company's home page shows a checklist for going live:
Bringing in the unpaid invoices and bills
Using the aged debtors and aged creditors reports, upload each invoice and bill that was unpaid on the day before the start date through the inbox. Give each one its original date and only the amount still owed, and code it to Opening Balances with VAT None: its sale or cost and VAT are already in the trial balance.
When the payment comes through the bank feed, Briefcase suggests the matching invoice or bill. Reconcile it and the item drops off the aged report.