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 an accounting professional before changing 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.