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Change of Ownership |
  
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Change of Ownership |
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Procedure
When the ownership of any company on e-PayDay® changes hands, the following steps will have to be carried out
1. Finalise the last pay in the company under the soon to be former owners
2. Run through all End of Financial Year steps including "Start New Financial Year"
3. Edit the company details, go to the Taxation tab and change the financial year back to what it currently should be
4. Whilst editing the company details, go to the Company 1 tab, click on 'Edit Details', and make any changes necessary
5. Click on 'OK' to exit back to the Company List
Repercussions
Payment Summaries - Any employees continuing under the new owners will recieve two payment summaries at the end of June of the current financial year.
Issues
Terminations (Pay out of accruals) - The transistion of ownership may require all annual leave and eligible long service leave to be paid out before the new owners take over. This will mean that the last payrun finalised under the old ownership will involve termination pays for any full or part time employees.
Registration Key - A new registration key will only be required if the 'Trading Name' field is altered. See Registration.