Copying partnership file over to company file

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  • Updated 5 months ago
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I would like to duplicate our partnership setup over to a company setup with all the same data, including invoices done and memorized invoices.
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Shelley Rosier

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Posted 6 months ago

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Neil Hodgson

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The simplest thing to do would be to change the Name of the business and the ABN in the Reckon file as from the date of the change.
The final Partnership BAS and Tax Return need to be lodged under the old entity, but going forward you would use the new entity details. 
You keep all the history from the previous entity.
It is still the same business operating, just a change of legal ownership.
The new "owners" have taken over everything, all Assets and Liabilities.
This works provided the new owners are the same people and are happy with that arrangement.
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Kevin Russell, Accredited Partner

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You dont need to do anything except change the Coy name and the abn. You are very welcome.
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Shelley Rosier

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Thanks very much for your help.
However, if someone requests a copy of an invoice from the partnership you need to ensure the ABN is correct.
Simply duplicate the invoice aptly named Partnership, delete the ABN linked to company info and add a text field and enter the OLD ABN