Transfer of account information when selling a business

KarenT_4188464
KarenT_4188464 Member Posts: 21 Reckoner Reckoner

We are looking at selling our business and was after some advice as to how I can provide my customer and supplier lists and their registers to the new owner without giving them all the information on my file like bank account information etc.  Any tips would be great.  

Answers

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,727 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    @KarenT_4188464 The lists can be exported from your file (& imported into theirs)

    This is available for most Lists however note this is database-info only (eg not possible for transactions)

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • KarenT_4188464
    KarenT_4188464 Member Posts: 21 Reckoner Reckoner

    So you can't transfer previous information?

  • Kris_Williams
    Kris_Williams Member Posts: 3,608 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    no, only lists…………….

  • GerryWinter
    GerryWinter Accredited Partner Posts: 1,334 Personal Range Elite Expert Personal Range Expert
    edited August 11

    Unless you supply them your complete data file and they change all the previous owners personal and legal details including banking info etc. They could then create their own file later to suit themself.

    Gerry id 6376

    Gerhard Winter

    Ph. +61 0418907140

    Reckon Store Next Door

    "Always at your Service"

    Email: gwinter0808@gmail.com

  • Datarec
    Datarec Reckon Staff Posts: 1,186 Reckon Staff

    Hi @KarenT_4188464

    As @GerryWinter has indicated, you may be able to make the changes in a copy of the data file before you provide it to the new business owner.

    Alternatively, iIf you can specify what exactly you do not want to be present in a data file, we can provide more specific advice or recommendations as to what we may be able to do to assist in achieving that goal.

    When a file is modified to remove certain information, it may result in a file that is not one that can be used as a daily-working-file by the recipient, at best they can use it as a historical reference whilst any actual work or new transactions are created in a different data file.

  • KarenT_4188464
    KarenT_4188464 Member Posts: 21 Reckoner Reckoner

    @Datarec_ReckonLtd and @GerryWinter I dont want them to have any of our bank information. I am mainly looking at giving them access to the customers including the transactions. We are a garage door company and a lot of our customers have products that carry warranties which they will need to have access to and also for customer history. Hope this helps explain.

  • GerryWinter
    GerryWinter Accredited Partner Posts: 1,334 Personal Range Elite Expert Personal Range Expert

    The only way to include transactions is to give them a complete data file, you just need to strip out anything you don't want them to see or have access to and let then use it as a history data file after they have created their own working file

    Gerry id 6376

    Gerhard Winter

    Ph. +61 0418907140

    Reckon Store Next Door

    "Always at your Service"

    Email: gwinter0808@gmail.com

  • Datarec
    Datarec Reckon Staff Posts: 1,186 Reckon Staff

    @KarenT_4188464

    Have you attempted to edit the Bank Accounts or other accounts in the Chart of Account List to remove the information you do not want to be present?

    You could also generate reports or print out to PDF the invoices.

    Are there specific transaction types that are present which contain information you do not want to be available to the new owner?

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,727 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    @KarenT_4188464 Another possible option is to create a copy of your company file with all the Users removed. You can't delete the Admin user as that's a default so create a unique Admin password (that you don't provide) & a login specifically for the buyer that allows access to Customers & Suppliers only (eg no access to any of your financial data)

    They can then use this file just for historical customer & supplier data.

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • KarenT_4188464
    KarenT_4188464 Member Posts: 21 Reckoner Reckoner

    Thanks everyone. This has at least given me a few options I can use. We havent settled as yet and I am not sure exactly what system he is going to be using (hasnt advised as yet), but I am just now trying to get prepared so I am not left trying to figure this out last minute.

    Appreciate all your help