If you change your company details, you may need to start a new file.
When you change your ABN in Agrimaster or KeyPay you are changing your business tax structure.
https://www.abr.gov.au/business-super-funds-charities/updating-or-cancelling-your-abn/changing-your-business-structure
As a business, for compliance, the ATO requires you to keep and have access to all tax records.
https://www.ato.gov.au/business/record-keeping-for-business/detailed-business-record-keeping-requirements/running-your-business---records/income-tax-return-records---business/
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.
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.
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