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Create a legal entity

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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 Navigation pane > Modules > 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, click Edit to 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.