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Transferring Ownership

AdrienneAdrienne Member Posts: 2

Good day
How can I transfer ownership of a Company File to the business owner.
Thank you

in Accounting Technical Support

Comments

  • dawid_hyman2018dawid_hyman2018 Member Posts: 5

    Hi Wave Admin. I would also like to know how to transfer a company to another or new owner. I would still like to keep the other companies. Please could you help us. We really need help. Please reply as soonest.

  • AlexiaAlexia Member Posts: 3,314 ✭✭✭✭

    Hi @Adrienne and @dawid_hyman2018

    It isn't possible to transfer a single business from one owner to another right now. Your only option is to transfer the entire account over to another email address.

    You can do this by following the instructions here.

    If you can give me a bit more information on your particular case, however, I might be able to provide some help in making the transition smoother, can you tell me more?

  • dawid_hyman2018dawid_hyman2018 Member Posts: 5

    Hi, OK I have 2 Businesses and soon to have a third on my personal email address. The one is my hobby company and the other is a NPO (non-profit organization) which I would like to setup in or transfer to a generic email address.

    Can I maybe have a copy of my profile on another email account and then just delete the companies I do not need?

  • AlexiaAlexia Member Posts: 3,314 ✭✭✭✭

    Hi, @dawid_hyman2018.

    If you want them to exist in separate accounts, under separate email addresses, you will have to archive one of the businesses and recreate it on a different account. You won't be able to easily extract and immediately import your information to a different account, however, so recreating your business will mean a fair amount of work on your end.

    So taking your non-profit as an example. I would recommend recreating it under a new account, setting your starting balances at the start of your fiscal year. You will have to upload bank statements and log any transactions from the start of your year onwards, but it will still be less work than transferring the transactions for the entire lifespan of the business.

    You can also use the customer list from the Global Export feature (found under settings) to transfer your customers. Other pieces of data, such as outstanding invoices, will have to be entered manually.

  • AdrienneAdrienne Member Posts: 2

    @Alexia said:
    Hi @Adrienne and @dawid_hyman2018

    It isn't possible to transfer a single business from one owner to another right now. Your only option is to transfer the entire account over to another email address.

    You can do this by following the instructions here.

    If you can give me a bit more information on your particular case, however, I might be able to provide some help in making the transition smoother, can you tell me more?

    I have a set of accounts that I set up, and NPO that has been trading for a number of years, that I have stepped out of so now needs to be transferred to another primary email address. I don't want to transfer my whole profile though as I have other clients there too... Surely I can transfer 1?

  • AlexiaAlexia Member Posts: 3,314 ✭✭✭✭

    Hi @Adrienne.

    Unfortunately, there's no way to transfer a single business at this time. Businesses in Wave are always attached to the account that created them. Your best option would be to use the information from the reports in your current account to create a new business, under its own account.

    I empathize with how frustrating this is, but the way Wave is built doesn't currently allow for transferring a single business between accounts.

  • cgaraicgarai Member Posts: 17

    This would be something much appreciated. It would at least be easier if the Detailed General Ledger report displayed and exported the account for each transaction. Why doesn't it show accounts for each?

    It seems that accounting software likes to make it difficult or impossible to move from one to another. The data should be entirely in the user's control. Borderline evil.

  • AlexiaAlexia Member Posts: 3,314 ✭✭✭✭

    Hi, @cgarai,

    You might get all the information you're looking for using the Global Export feature. One of the files you can obtain from doing this is a complete and detailed list of all transactions logged to your business. It could help you upload your data to a different platform if that was your intention. You can do this from the Settings page. You'll find the "Data Export" option at the bottom of that page. With that said, it might still be easier to use your bank statements as well as the Trial Balances report instead as a starting point for a move.

  • Quentin_HarleyQuentin_Harley Member Posts: 2

    I came here looking for a way to transfer one business to a partner. Is it still not possible to transfer a company?

  • JSFJSF Member Posts: 2
    This is a major flaw in the system, and really needs to be fixed. Please add a function that we can transfer ownership
  • EmmaPEmmaP Member Posts: 639 ✭✭✭

    Hi @Quentin_Harley! At this stage it is not possible to transfer a 'business' form one Wave account to another. You can recreate the business in a new Wave account by exporting the data and then uploading it into the new account. You can read more about this here: How to move data between Wave accounts.

  • FilCanAsiaFilCanAsia Member Posts: 2

    Designating an existing user as the "Owner" of a business really can't be that difficult to implement. User and the Business are separate records already, so it's just a matter of updating the link between the two of them. Can you explain why this basic feature is still not yet implemented two years later?

  • mowgliemowglie Member Posts: 1

    I agree, it really is just reassigning the owner record in the backend dbase.

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