Transferring company files from ABC Ltd to XYZ Ltd

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Debbie Lawrence
Debbie Lawrence Member Posts: 16 ✭
in Accounts Hosted

Morning Community,

I am wanting to know if transferring a company file from one management entity (business) to another is as simple as taking a back up and then introducing the data (either via a hard drive or USB) once logged into the new entity?

To be more specific, lets say a client moves their business, and the old provider and the new provider both use Reckon Hosted: is the file transfer of data as easy as above?

And what is the recommended method of file transfer?

Thanks all.

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  • Kris_Williams
    Kris_Williams Member Posts: 3,307 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    If you just want to handover the reckon file yes just upload the backup to the new Reckon Hosted entity.

  • Debbie Lawrence
    Debbie Lawrence Member Posts: 16 ✭
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    Thanks Kris.

    I couldn't see that it would be a problem, but I just wanted to check I wasn't over simplifying.

    Cheers.

    😃

  • Robyn Kelly (Partner)
    Robyn Kelly (Partner) Accredited Partner Posts: 475 Accredited Partner Accredited Partner
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    Debbie

    If you are processing payroll think about STP and the fact that the entities will probably have different ABN's? What that means for STP is that the old business / ABN will probably need to finalise payroll / STP and the new entity will need to commence payroll / STP (notifying ATO of the SID).

    I think a new file might be simplest, but you can export and import the lists (customer / supplier / COA etc).

    If the business is not changing ABN then there is no problems I don't believe.

    Regards, Robyn Kelly

  • Debbie Lawrence
    Debbie Lawrence Member Posts: 16 ✭
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    Thanks for this, Robyn - no, none of the entities that this may apply to are employers - they are buildings, in essence - so the files are basically cashbook (expenses as they relate to keeping a building functioning).

  • Kris_Williams
    Kris_Williams Member Posts: 3,307 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    My only other thought is that the existing data is relevant to one business tax wise and maybe a different business from handover date, so you may have to do 2 lots of financial reports for the accountant for each entity

  • Debbie Lawrence
    Debbie Lawrence Member Posts: 16 ✭
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    The file is a cash management file for a building - the ownership of the building isn't changing, only the management entity managing the building, so the file, and its data, needs to be passed on to the new management company.


    No new owners, no new financial entity...simply cashflow/cash management data around building expenses.

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