Effective Date for Change of Business Details

I have searched the Forum and seen that there has been some discussions on this topic a couple of years ago, but I wanted to check the latest status and how other users are handling the situation.

If a Company changes its name, or moves to a new address, you can easily update this from settings. BUT you don’t want to change past records. They ought to have the information that was correct “at that time”. I noted that some users therefor created a new business with the new name, but in my view that is not optimal. The business is still the same legal entity, just with a new address (or a new name).

I feel that a good solution would be if it was possible to set a “start date” for any change of business details (name, address, logotype) and that this information will only affect records (invoices etc) which are dated after this “start date”. I note that this was proposed by some users earlier as well, but it seems like the discussion “died out”.

Is there any chance that such change could be implemented in the system?

How are other users handling this (quite common) situation in the current system?

I am putting this into the ideas category. But rather than “start date” I suggest terminology like “effective date.” “Start date” was previously used to mean something quite different. I also edited the subject.

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Yes I agree, effective date is more appropriate.