Essential Documents to Keep Up to Date When Selling Your Business

Essential Documents to Keep Up to Date When Selling Your Business

You must have ready and up to date all documentation that will be required – not just for the buyer, but also for their accountant, financier and solicitor ( Essential documents to keep up to date)

  • Ensure where possible you have accountant prepared financial statements ideally for 3-5 years. These may include
    • Profit and loss trading statements
    • Balance sheets
    • BAS statements
    • Tax returns
  • Having draft figures for part periods are fine especially these days if via XERO or MYOB
  • Have an up to date detailed list of all assets included in the sale
  • Have on hand a copy of the lease along with any disclosure statements and recent rent invoices showing the rent/outgoings and GST for a period usually monthly

There is much more information that you will want to have ready for a buyer that would be part of an information memorandum but essentially the financials which carry much weight in the buyers decision need time to prepare and keep up to date.

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