Check Sole trader-Comapny or Individual
Hello, im trying to see if I chose Company or Individual when I set up the account as a sole trader. where can I find this and how do I edit if it's not correct.
Forum Discussion
Hi SM13,
You can check out this article for tips on choosing the right business structure for your needs. If you decide to go with a sole trader setup, this link will guide you through the process. Keep in mind that once you set up as a sole trader, you can't just switch it to a company or the other way around easily. You'll need to create a new company file and transfer your data over.
Cheers,
Princess
Thank you, is there anywhere to check it? I can't see it any where in business settings.
I did see that in Income allocation, in setting cog, it's set to Company as the entity type.
Hi SM13,
From what I understand, you're looking to switch your business account type between individual and company. However, there's no direct option in the business settings to change the entity type once your MYOB account is set up. This choice is typically made during the initial setup. If you need to make this change, you'll need to reach out to our support team. You can connect to them via live chat with our virtual assistant MOCA or by raising a support ticket through MyAccount.
Cheers,
Princess
Thank you :)
