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Changing chart of accounts in Sage Accounting

Anyone know how to change the chart of accounts from sole trader to limited company?

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My new client set up his Limited Company business in Sage Accounting Start, in which the chart of accounts was for a sole trader business, even though in the settings it is set up by him as a limited company.  He has now upgraded to Accounting but the chart of accounts is still suited to a sole trader business e.g. no dividends, directors loan account.

Is there a way to change the chart of accounts as a whole?  There are no transactions yet.

Thanks

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By WhichTyler
03rd Dec 2019 13:08

A question for Sage, I would have thought...

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Replying to WhichTyler:
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By Joolzy
04th Dec 2019 10:20

Yes indeed, the answer was to reset the data

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By Cloudcounter
03rd Dec 2019 15:15

There's nothing complicated about it. You just create the accounts that you are missing, and delete those such as drawings that you don't want.

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Replying to Cloudcounter:
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By Joolzy
04th Dec 2019 10:23

Yes that's what I've done in the end

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By NH
03rd Dec 2019 20:23

even if you had chosen the company COA, because Sage is incredibly poor you will still have to create a few codes that should be there as standard

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By johndon68
03rd Dec 2019 20:55

Go to File -> Maintenance and choose the Rebuild option. Deselect 'Keep my Nominal Account records' and you can then choose the Limited Company option on the right hand side.

Choose OK and you'll get all the standard nominals and the COA for a Limited Company.

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By Joolzy
04th Dec 2019 10:22

Are you talking about Sage 50 as Sage Cloud does not have a File option as far as I can tell?

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By kevbrownuk
04th Dec 2019 11:12

Hey Joolzy,

a few options even though i know you have already had this sorted:

a) reset the data/set the company up again, you may need to speak to Sage directly in order to do this
b) manually amend the Chart of Accounts to create/amend missing codes or rename
c) import your own chart of accounts, you can do this provided there is no transactions in the data.

Kevin Brown
Business Development Manager - Accountants/Bookkeepers
Sage UK

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Replying to kevbrownuk:
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By Joolzy
04th Dec 2019 12:10

Hi Kevin

Thanks for the detailed reply.
I decided against resetting data as the client has already linked their bank account which was a tad problemmatic and I didn't want them to have to do that again.

Ditto importing a chart of accounts.

In the end I have manually amended the chart of accounts

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Replying to kevbrownuk:
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By kiwilondon99
04th Dec 2019 14:58

Kevin-out of interest - SAGE many years back had default industry sector CoA for new setups- which were then dropped. was a great feature and time saving. would be most usefu;l these days with the app stack options available for reporting/budgeting to get off to a flying start

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Replying to kiwilondon99:
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By kevbrownuk
05th Dec 2019 22:52

.

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By Charlie Carne
05th Dec 2019 11:23

You are in a very lucky position, as you say that no transactions have yet been posted. The simple solution is to cancel the subscription to Sage, as it is far and away the worst accounting software I have ever used. People tell me that it must be good as it is the most popular (by number of users) but, by that reckoning, the Sun would be the UK's best newspaper, so go figure! I would set your client up on either QuickBooks Online (QBO) or Xero, both of which are infinitely better than Sage.

I assume from your question that you are not familiar with Sage (and, presumably, neither is your client). So, as the professional adviser in the relationship, I would suggest that you recommend your preferred software to your client.

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By NH
06th Dec 2019 09:34

One of the things I hate most about Sage Start and Accounting is the fact that you choose a company COA and yet you are missing loads of codes that should be there as standard - just one example - no N/L account for CT (P&L), and yet you do have one for the B/S

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