When you change your ABN in Agrimaster or KeyPay you are changing your business tax structure.
As a business, for compliance, the ATO requires you to keep and have access to all tax records.
If you are changing/amending your ABN you need to notify us and we recommend you create a new file so the data required for compliance is available, and there is less work required for reporting by you and your accountant.
Why Do You Need To Start A New File?
Agrimaster is a rolling cashbook; there are no end of financial year procedures and one-month rolls on to the next. There will be no clear differentiation between your old tax entity and the new one if you do not start a new file. Agrimaster is designed for one business entity per file.
You may need to run two files at the same time - until one is no longer required for reporting purposes and all compliance has been completed.
The additional file can be in a different product offering - such as Read Only, or Essentials - however, please remember there are limitations to these products and this may not meet your needs should you require full access to budgets.
For more information, contact Customer Support.