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partnerauditcontactaudittraillegal
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dhiren@timeely.com

Hi all,


Currently we have the contacts module operating as per usual, where one company may have multiple sub-contacts within it. However, there are several conditions of this where we're wondering what an appropriate or the best response would be for audit purposes.


Scenarios;

(1) If contact's company closes and they open a new business under a different (new) registration

(2) Contact legally renames company

(3) Contact legally changes from private to public ownership LLP, LLC, etc.

(4) Staff of partner moves from one company to another (if they have invoices written out to them)


What would the appropriate changes in the contact module be for each of the above  for audit purposes ?


For example, would we need to close the current contact and create a new one ? Oris the best practice to ammend the "name" field of the company to reflect the new changes? 

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Ermin Trevisan
Best Answer

All these questions are already answered legally, special case is only (4).

(1) If a company closes, it does not exist anymore PERIOD. Archive it.

(2) If a company changes its name legally, rename it.

(3) If a company changes it legal form, rename it.

(4) Do not use personal contacts as invoice adresses, the invoice address must be a proper legal address. Use followers, if you want to send invoices to natural persons.

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