Where to find it
On a client’s Basic Info screen, under Client Info, the Business Entity dropdown sits below Email and Phone Number. Selecting a different entity immediately changes the fields below it, so the form only ever shows what’s relevant to that entity.Changing a client’s entity type after transactions have been reconciled can affect how their balance sheet is structured. Set this correctly when you first add the client where possible.
1. Company
Selecting Company adds three fields that no other entity has: Income Tax Percentage, defaulting to 25%, and Total Shares with Per Share Value underneath it. These exist because a company is the only entity that issues share capital, and Ezyiah uses them to build the equity section of the company’s balance sheet.1
Select Company
Open the Business Entity dropdown and choose Company.
2
Set the income tax percentage
Check the Income Tax Percentage against the client’s circumstances before saving, since it defaults to 25% and flows through to their reports.
3
Set the share structure
Enter Total Shares and Per Share Value. Multiplied together, these give the company’s total issued share capital.
4
Confirm GST and save
Confirm whether the client is registered for GST, then click Save. Ezyiah builds the company’s Chart of Accounts with the share capital and equity accounts a company needs.
2. Partnership
Selecting Partnership removes the share fields entirely. A partnership doesn’t issue capital the way a company does, so the form drops straight from Business Entity to GST registration, the shortest form alongside Sole Trader and Discretionary Trust.1
Select Partnership
Open the Business Entity dropdown and choose Partnership.
2
Confirm GST registration and save
Confirm whether the client is registered for GST, then click Save. Ezyiah sets up the Chart of Accounts to reflect each partner’s share of the business, ready for the partners to be added.
3. Sole Trader
Sole Trader is the simplest entity in Ezyiah. There’s no capital structure and no other parties involved, so the form is identical in length to Partnership: Business Entity straight into GST registration.1
Select Sole Trader
Open the Business Entity dropdown and choose Sole Trader.
2
Confirm GST registration and save
Confirm whether the client is registered for GST, then click Save. Ezyiah sets up a Chart of Accounts structured around the individual as the business, with no equity or ownership accounts to configure.
4. Unit Trust
Selecting Unit Trust swaps the company’s share fields for their trust equivalent: Total Units and Per Unit Value. The mechanics are the same as Company, capital divided into units rather than shares, so this is the second-longest form after Company.1
Select Unit Trust
Open the Business Entity dropdown and choose Unit Trust.
2
Set the unit structure
Enter Total Units and Per Unit Value. Multiplied together, these give the trust’s total issued unit capital, the equivalent of share capital for a company.
3
Confirm GST and save
Confirm whether the client is registered for GST, then click Save. Ezyiah builds the Chart of Accounts around unit holder equity, ready for unit holders to be added.
5. Discretionary Trust
Selecting Discretionary Trust removes the capital fields entirely. A discretionary trust distributes to beneficiaries at the trustee’s discretion rather than against fixed shares or units, so like Partnership and Sole Trader, the form goes straight from Business Entity to GST registration.1
Select Discretionary Trust
Open the Business Entity dropdown and choose Discretionary Trust.
2
Confirm GST registration and save
Confirm whether the client is registered for GST, then click Save. Ezyiah sets up the Chart of Accounts around trust equity, ready for a beneficiary to be added.