Starting date of business to change
naylag
Member Posts: 8
Hello! Ive been running my freelance practice for 4 years or so and used Wave for my basic accounting needs, and was registered as NAME X (as sef-employed, with a business name). Ive officially registered and incorporated the company in April 2017 bearing the same NAME X, but I carried on using the same business on Wave app... Now I want to do everything neatly, and I would need my business to start on April 2017 on Wave app to be able to close the accounts properly, but I dont know how to do so. Should I create a new business and do all the set-up again (I have the same clients and suppliers as on freelancer mode)? Or should I archive or delete all the date before April 2017? What would be the best method?
Thanks a lot
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Comments
Hi @naylag.
I think the cleanest way to do it would be creating a second business under your account for your business as an incorporated entity and start it's accounting from the incorporation date onwards. You can find out how to add a new business here.
You can archive your old business afterwards. I'd also recommend changing the name of your old business, just to avoid confusion in the future. Just something like "NAME X - old" should be fine.
By doing it this way, you'll keep records of all your data and won't need to create a completely separate account under a different email. It'll take some work, however, since not everything can be exported and re-imported.