Legal Entities

• A Legal Entity is required for each organisation that financial documents will be entered against.

• One or many Legal Entitiess may exist within each environment and they can share details e.g. Tax Authority, Financial Year Group, Base currency, etc.

  

  Note

  Where multiple Legal Entities exist, consolidated reporting options are available, regardless of shared periodicity and even base currency. The decision to share setup e.g. Financial Year Group, apart from the commonality of year end date may be governed by the the business process to e.g. share period end handling.

  Tip

  Select to jump to the Legal Entity contact account and see the related addresses, phones, emails, contacts, URLs.

  Entity

  • Code: Unique code for the Legal Entity

    Note

    Use an easy to remember code as it will be:

    • Shared with the associated contact account and
    • Also be the Interco code (if applicable) and thus be used as a posting attribute value.
    • Description

    

The Tabs

• General
• Bank accounts
• Stationery and images
• Advanced
• Resource
• Tax Registrations
• Locations
• Interco
• Data Control
• Emails
• Log

• Tax Authority

• Multiple tax registrations:

• Country:

• Currency: Base currency for the Legal Entity.

• Financial Year Group

• Interco: Tick this check box if you also wish to use this Legal Entity for Interco documents. This will create an addition Tab - see Interco Tab.

  

References

• Company No:

• Incorporation date:

• UTR reference: Unique Tax Reference (used in England and Wales Tax Authority

• EORI number:

• Charity No:

  

Updated March 2024