I stand to be corrected but pretty sure that once you have created a business under one chart of accounts then it cannot be directly changed as different COA's have different options.
If you have done a lot of input what you can do is copy all transactions to Excel then create a new .VTR file for the partnership and use the universal input screen to batch enter the transactions from the excel spreadsheet back to the new company file.
I've done this myself to renumber tranactions but I've not done it to change COA's so you may hit issues if there are any transactions that can exist for partnerships but not sole traders.
Note that the different transaction types vary slightly in formatting and naming conventions and it will take a certain amount of trial and error to get it right first time that you do it.
Keep each type of transaction that you load up in a seperate worksheet as once you've sussed the formatting for each you won't want to forget it.
Check the data after each batch load to ensure that its been loaded correctly.
no reconcilliations would be carried over and you would need to redo all of your VAT quarters in the new file.
Its certainly not a five minute job to do this but it is fatser than entering all of the transactions again.
Sorry, this is a yes there's a way but its not the fast easy way that you are looking for.
Fingers crossed someone else will know an easier way to achieve the same outcome,
kind regards,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I just phoned their accountant who set me up on VT, he's says that's fine and to just carry on as it won't make much difference and they will sort it out at the end HALLELUJAH what a huge relief!!!
No problem Rachel and excellent news from the accountant. Glad that it worked out for you.
A little while ago I was looking at the facility that I describe above with the intention of writing an Excel macro to build VT load files from Sage CSV extracts so that one can keep the history in VT rather than restarting from a trial balance.
Unfortunately it didn't get very far as I fell at the first hurdle (not a very high hurdle but got involved in other stuff so the idea fell by the wayside). The issue was/is that newer versions of Sage prevent VT from working on the same machine. (even when Sage is not running). I have multiple computers so could have easily worked around it. As I say, it was a very small hurdle but other stuff came up.
talk soon,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Isn't it better to use VT Accounting Objects to do that sort of thing Shaun? I haven't got as far as seeing what I can do with it yet, but I will! I need to get over the pain of my 60 day trial ending, and having to watch a large negative number appear on my bank statement first though .
.
