Before we dive into how to change the Account Owner, here are a few things to keep in mind:
Only the current Account Owner can make the change.
The new Account Owner will have full access to the history of past transactions and reports.
Account Owners will have full access to your account's banking and financial information.
If you are the current Account Owner, you will no longer have access to Account Owner reports and functions after you change the Account Owner.
The change will happen immediately. As soon as you make the change, you will no longer have access to Account Owner settings & reports.
Outbound Transfers will be routed to the new bank account.
This article will guide you through adding a new account owner from outside of your team. If you are wanting to 'swap' the Account Owner with one of your existing teammates, you can learn more here.
Here are some best practices before completing the hand-off to the new Account Owner.
Book a Coaching Session for both you and the new owners (Link)
To avoid any potential delays with 1099 reporting from Payment Processor, Stripe, please also provide a member of our team with:
The date the ownership or legal entity changed hands
A mailing address and phone number for the original owner
A TIN for the original owner
Action for you (Current Account Owner)
Once you've got the information you need, you can begin changing the Account Owner on your account.
First, head to your Profile Settings (Link).
Then, update the name, email, and other contact information for the new owner (Article).
After, update the card on file with the new Account Owner's information (Article).
Note: The new Account Owner will operate off of your current billing cycle. Learn more here (Article).
Next, send your new Account Owner a Password Reset link (Article).
Action for them (New Account Owner)
The new Account Owner will then be able to take the following steps:
First, login to Goodshuffle Pro using the Password Reset Link you were sent.
Next, head to your Company Settings (Link).
Then, complete Stripe's 'Know Your Customer requirements (Article).
Important: ensure all information is updated (Company Legal Name, Contact Information, URL and so on). Should Stripe require further information/documentation, you will see a yellow bar at the top of your screen.
If you have any questions or need a hand, please let us know in the chat in the bottom right!