So are you're selling or buying the business?

Here are somethings to think about in either case.

You need to let us know in advance - ideally 3 to 4 weeks
This is so we have enough time to get the paperwork sorted and to schedule the changeover with the appropriate consultant

Email: and we will be in touch

It is suggested to treat selling a business like a very important year end!

With this in mind we have the following checklist that should be done prior to any changeover:




MUST be done prior to the changeover - any adjustments done after this are in the new businesses database

- SAM users click HERE

Invoice your JobsDepends on what is being bought/sold, who is going to own the debt?
NB: Invoices cannot be backdated
Finalise & invoice your Purchase OrdersDepends on what is being bought/sold
NB: There is no going back once the name has been changed
Write off bad debts

Account for expenses in the correct period

MOST important if the new owner is buying the debt

- SAM users click HERE

Account for any holiday pay
Complete any AccrualsCheck with your accountant if needed
Check all Balances to the General Ledger

SAM - Debtors, Creditors, Cashbook/Bank

Only Applicable if you are using the Elite package with GL

ReportsPrint any required reports
Click HERE for a list of suggested reports
SAM- Xero sitesCheck your Batches are posted
If there is a bell - click on it and follow the instructions


A back-up will be done prior to any changes, this along with any existing back-ups should be given to the previous owner.

NB: The below is a suggestion
What data is kept/removed in the system will depend heavily on what the new owner has bought.

Any Data removed CANNOT be entered back in again
Any Data kept CANNOT be removed en-masse later

The moral of the story - be VERY sure about what is kept and deleted


It is suggested that the following is kept by the new owner:

  • Debtors History
  • Vehicle History
  • Current Techs & Rates
  • Stock File
  • Catalogues
  • Creditors History
  • Purchase Orders History
  • GL Codes
  • Quotes

??? May Keep ???

Depending on the agreement with the previous Owner the new owner may keep

  • Work in Progress - 
    • You will be continuing with all work booked in
  • On Hand Stock - 
    • You will be keeping all stock

Normally Removed

Data that is normally deleted and left for the previous business

  • Debtors Balances 
    • If you have agreed to collect money from customers for work done by the previous owner, you will keep this data
  • Creditors Balances 
    • If you have agreed to pay the remaining on suppliers balances, you will keep this data
  • Point of Sale invoices
  • GST Transactions
  • GL History
  • Banking History
  • Banking
  • Cashbook Transactions
  • Archived Reports
  • Archived Statements