Exercise 5: Create a New Legal Entity

Task 1: Create a legal entity in Finance and Operations apps.

1. Select Modules from the left navigation bar.

2. In the Organization administration module, go to Organizations > Legal entities.

3. Select + New.

   • In the Name field, enter a value Tailwind

   • In the Company field, enter a value USTW

   • In the Country/region field, enter or select a value USA

4. Select OK.

5. In the General section, provide the following general information about the legal entity:

   • Search name should be auto filled with above legal entity.

   • If this legal entity is being used as a consolidation company, set the Use for financial consolidation process slider to Yes.

   • If this legal entity is being used as an elimination company, set the Use for financial elimination process slider to Yes.

6. Expand the Addresses section.

7. Select + Add and enter a random address then select OK.

8. Select Edit and enter address information, such as the street name and number, postal code, and city and select OK.

9. Expand the Contact information section. To enter a new Contact information record, select Add. To modify an existing communication record, select Advanced.

10. Enter information about methods of communication, such as email addresses, URLs, and telephone numbers.

11. Expand the Statutory reporting section, and enter the registration numbers that are used for statutory reporting.

12. Expand the Registration numbers section, and enter any information required by the legal entity.

13. Expand the Bank account information section, and enter bank accounts and routing numbers for the legal entity.

14. Expand the Foreign trade and logistics section, and enter shipping information for the legal entity.

15. Expand the Number sequences section to view the number sequences that are associated with the legal entity.

16. Expand the Dashboard Image section to view or change the logo and/or dashboard image that is associated with the legal entity.

17. Expand the Tax registration section, and enter the registration numbers that are used to report to tax authorities.

18. Expand the Tax 1099 section and enter 1099 information for the legal entity. (This is only necessary for a US-based company.)

19. Select Save.