A change in your business structure can happen for various reasons. Each business structure has distinct legal, compliance, and tax obligations, so it’s essential to consult a professional before hanging your business structure.
In most cases, when you change your business structure, you need to separate your financial records from your old business. Create a new business within Wave to represent your new business structure:
- Log in to your Wave account at waveapps.com.
- Click your business name in the top-right corner, then click Switch businesses > Create new business.
- Set up your new business based on the restructuring.
- Click Save.