New bexio account

To ensure that your financial data is correct and consistent after the conversion of the legal form, we advise you to open a new bexio account. The data stored in the current account is deeply interwoven with the previous legal form, which makes a subsequent, error-free adjustment very difficult.

Specifically, proceed as follows:

1. Log in to your existing bexio account
2. In the upper left, you have 3 horizontal lines (next to your logo) - click on "Create new company"
   1. there Register the company with your new legal form
   2. The account is automatically in a test phase for 30 days
   3. The bexio account is empty - no data can be transferred automatically
3. Set up the account and use this bexio account in the future

Reasons why we recommend a new bexio account

• The chart of accounts is based on the legal form, especially regarding equity, and must be adjusted accordingly after the conversion.
• When converting the legal form, certain characteristics such as legal capacity, tax liability, accounting obligation, profit utilization, or company name may change (e.g., sole proprietorship to GmbH/LLC).
• The annual financial statements / VAT should no longer be changed and should be finalized with the old legal form.
• If you adjust and save the legal form in the company profile, the linked company name is updated immediately. Important note: All existing documents (such as invoices, balance sheets, etc.) that were created with the old company name will automatically be overwritten with the new name. Please note that these documents, although they bear the new name, are still assigned to the originally stored legal form.

Effects if you create a new bexio account

• It is an empty account; no data can be transferred automatically.
  
  • As an example, "Contacts" and "Products" can be exported and imported into the new bexio account.
• The transfer of assets, e.g., into a newly formed GmbH (LLC) or AG (public limited company), can be transferred to the new bexio account using the accounting assistant (under "Accounting" - "Annual financial statements" - "Adopt balance sheet and income statement").
• The document template for sending documents such as «Quotes» or «Invoices» must be set up again.
• All settings that you have made must be adopted again.

Alternatives

Of course, you decide whether you want a new bexio account or want to continue working in your existing one. You can also continue the conversion of the legal form in the existing bexio account. However, please note the effects of the new company name as well as the legal requirements regarding bookkeeping and accounting.