How to separate businesses from one profile to create multiple profiles
michael_b
Member Posts: 2
Please can someone advise if it is possible to separate a business from my profile (to keep it separate from my other entities on Wave) and to create a new user profile for this business? I need to transfer ownership and administration rights for one of my entities to another user and I don't want them to have access to my other business entities through their login profile.
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Hi, @michael_b.
No, it isn't currently possible to transfer a business over to a different account. You can only transfer ownership of an entire account.
Your best option may be to just create a new Wave account and move over everything from the start of your fiscal year manually. You could follow the same instructions for moving to another platform from Wave to help guide you.
Thank you for your reply. This is very frustrating. Please look at providing much clearer guidance to users who register for the first time to advise them against opening multiple accounts under a single profile. To have to recapture everything manually is a real pain.
Thank you for your feedback, @michael_b.
Would adding the new owner as a Collaborator with full access under the business being sold be a solution? The collaborator would have access limited to just that particular business, correct?
Hi, @eliteacchk.
And put the onus of transferring any data on the new owners? That would work. The new owners wouldn't have access to bank connections or to any direct deposit information but would have access to everything they'd need to get started with their accounting.
The new owner, however, should continue their accounting in a new business and only use this one as a reference.
Hi @Alexia - I'm just checking in to see if you have resolved this issue yet? I created two businesses under one profile on Wave. I no longer work for one of the companies so they need their OWN wave account. I have archived this business but it still won't let them set up a separate account as it says the email address is already is use (on my profile). I don't need to keep any of the information on this company, I just need to completely delete the profile and email from the system so they can start fresh using the same email address. Please advise.
Thank you for keeping in touch @RiverGod_Adventures1. Just touching base here in case you still need assistance with this! There are two ways you can 'free' this e-mail address so the new owners can use it for their own, separate Wave account.
1) You can go to Manage your profile > Email and connected accounts, and add a new e-mail address (if you have not done so already). Select the star icon beside this e-mail address, which will assign it as the primary e-mail address. You should then be able to delete the original e-mail address using the trash icon, where the new owners can use it to create a new account.
2) The only other method to 'free' an e-mail address would be to delete a whole Wave account entirely. Please note this would permanently erase all existing data, and is irreversible. See here for steps on how to do so.
Hope this makes sense, but let me know if you have more questions from here.