My husband has just switched from a sole trader to a family trust. Do I need a separate company file in myob?
My husband has just switched from a sole trader to a family trust. Do I need a separate company file in myob?
Forum Discussion
Hi Er_81 ,
When transitioning from a sole trader to a family trust in MYOB, whether you need a separate company file depends on how you manage financial records. While not strictly necessary, a separate file can clarify financial separation, streamline compliance, and meet different reporting requirements for each structure. Consulting with a professional accountant ensures your setup aligns with legal and accounting standards and supports your business goals.
Regards,
Earl
