Transfer of account information when selling a business

KarenT_4188464

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.  

Acctd4

@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)

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KarenT_4188464

So you can't transfer previous information?

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Kris_Williams

no, only lists…………….

GerryWinter

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.

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Datarec

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in a file that is not one that can be used as a daily-working-file by the recipient, at best they can use it as a historical reference whilst any actual work or new transactions are created in a different data file.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

@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

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

Datarec

@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

@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.

KarenT_4188464

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