Results 1 to 2 of 2

Thread: Ideas????

  1. #1
    New Member
    Join Date
    Mar 2019
    Location
    cape town
    Posts
    3
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Ideas????

    I am a little bit lost at the moment on what would be best way forward. We are restructuring our company and changing the entity we are going to trade in. If I made a copy of the original entity on Pastel and deleted the info, I would have no transactions for my age and statements. If I created a new company I sit with the same problem. So I just change the details in the current company (name etc) or do I open a whole new company and recapture everything?

    The more I think about it the more confused I am getting. We work on Pastel so its easy to do either but a lot more work if I need to capture all the information again.

  2. #2
    Silver Member
    Join Date
    Aug 2018
    Location
    Johannesburg
    Posts
    262
    Thanks
    0
    Thanked 35 Times in 31 Posts
    Are you taking on the entire entity as a going concern? If so, copy the company and just change the trading information under Setup..company parameters.

    If you are only taking on the debtors/creditors/bank/assets/stock repeat as per above, then journal the rest of the balance sheet (and retained earnings) out to an intercompany loan (or shareholders loan) as applicable. That would then be the amount due either to the shareholders or the old trading entity, which could then be paid back over time.

Similar Threads

  1. Business Ideas 101
    By vieome in forum General Business Forum
    Replies: 141
    Last Post: 08-Jan-20, 09:55 PM
  2. Valentine's day ideas
    By Citizen X in forum General Chat Forum
    Replies: 16
    Last Post: 14-Feb-14, 09:21 AM
  3. Business Ideas?
    By jamesk in forum General Business Forum
    Replies: 6
    Last Post: 19-Oct-12, 03:13 PM
  4. How do you come up with ideas for new products?
    By rfnel in forum General Business Forum
    Replies: 7
    Last Post: 21-Jun-11, 09:07 AM
  5. More ideas on newsletters.
    By I Robot in forum Administrative issues
    Replies: 0
    Last Post: 12-Sep-06, 11:39 AM

Tags for this Thread

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •