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sold my business - no longer have active accounts

fuzzzz1

Hello
I sold my business in sept 2022.
Final Tax returns were filed in July 2023

I have two business files on Account right Live Premier

I have backed these up as of today

I wish to move them to off line use only to keep them as records

and no longer require my subscription as the accounts will not change from this point.

Please advise what I need to do to....

Keep my account records but be able to see them and (if necessary) make changes.

Close my subscription payments.

Thanks for your assistance

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Genreve_S

Hi @fuzzzz1,

Apologies for my delayed response.

Yes, that is indeed correct. Since your license is perpetual, you will still have full access to your file offline if you restore it locally.

Let us know if you need any other assistance.

Thanks,
Genreve

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Jemar_C

Hi jamesfuture4u,

Thanks for your post, and welcome to the community forum! When you shut down your business or cancel the subscription, if you have a desktop or perpetual license, you would be able to access (and record extra transactions) the company file locally and without live services. I highly suggest saving a backup file locally. Once deactivated, you wouldn't be able to access live services, payroll tax tables, and/or other benefits, but you would continue to receive the automatic upgrades to the product. If you do need to install the software on another computer in the future, installers are made available on the Product Downloads page.

Feel free to write a post if you need further assistance.

Cheers,

Jem

jamesfuture4u

Good evening. How do I archive my information if I use a subscription-based license, when I shut my business down?

fuzzzz1

Thanks for your reply Genreve.
My licence is a perpetual licence so I'm assuming that I can now close my subscription as I will be able to access my (now closed) accounts from the backup file and that these will continue to work off line for at least as long as I'm required to maintain records by the ATO?

Kind regards
Chris

Genreve_S

Hi @fuzzzz1,

Thank you for sharing your concern on the forum.

I understand your requirement for a copy of your ledger for auditing purposes. The backup file you possess can be restored offline, allowing you to access your file locally. Please note that the data in the backup files cannot be modified unless the file undergoes confirmation. Furthermore, if your serial number is a perpetual license, you can use your file offline as usual (edit, add, or delete transactions) without online services like bank feeds and STP.

Please don't hesitate to reach out if you need further assistance or any clarification on this matter. We're here to assist you.

If my response has answered your inquiry, please click "Accept as Solution" to assist other users find this information.

Thanks,
Genreve