Create a legal entity

Note

We will not be accepting edits to this topic, because it is generated from a business process in Lifecycle Services.

A legal entity is an organization that is identified through registration with a legal authority. Legal entities can enter into contracts and are required to prepare statements that report on their performance. The following procedure explains how to create a legal entity. The demo data company used to create this procedure is USMF.

  1. Go to Organization administration > Organizations > Legal entities.
  2. Click New.
  3. In the Name field, type a value.
  4. In the Company field, type a value.
  5. In the Country/region field, enter or select a value.
  6. Click OK.
    • In the General section, provide the following general information about the legal entity: Enter a search name, if a search name is required. A search name is an alternate name that can be used to search for this legal entity. Select whether this legal entity is being used as a consolidation company. Select whether this legal entity is being used as an elimination company.
  7. Expand the Addresses section.
    • In the Addresses section, enter address information, such as the street name and number, postal code, and city.
  8. Expand the Contact information section.
    • In the Contact information section, enter information about methods of communication, such as email addresses, URLs, and telephone numbers.
  9. Expand the Statutory reporting section.
    • In the Statutory reporting section, enter the registration numbers that are used for statutory reporting.
  10. Expand the Registration numbers section.
    • In the Registration numbers section, enter any information required by the legal entity.
  11. Expand the Bank account information section.
    • In the Bank account information section, enter bank accounts and routing numbers for the legal entity.
  12. Expand the Foreign trade and logistics section.
    • In the Foreign trade and logistics section, enter shipping information for the legal entity.
  13. Expand the Number sequences section.
    • In the Number sequences section, you can view the number sequences that are associated with the legal entity.
  14. Expand the Images section.
    • In the Images section, view or change the logo and/or dashboard image that are associated with the legal entity.
  15. Expand the Tax registration section.
    • In the Tax registration section, enter the registration numbers that are used to report to tax authorities.
  16. Expand the Tax 1099 section.
    • In the Tax 1099 section, enter 1099 information for the legal entity.
  17. Click Save.