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    Mark Simpson
    Creating a new Legal Entity - correct steps?Answered
    Topic posted November 6, 2019 by Mark SimpsonRed Ribbon: 250+ Points, tagged General Ledger 
    64 Views, 5 Comments
    Title:
    Creating a new Legal Entity - correct steps?
    Summary:
    Following steps to create a new LE but something isn't happening right
    Content:

    Hi All,

    We had some new codes created in our chart of account segment for entitiy but the actual creation of new legal entities relating to them wasn't done therefore we are trying to do that setup retrospectively. We have completed the first two steps in their creation:

    • Manage Legal Entity Address
    • Manage Legal Entity

    The next 3 steps had already occurred:

    • Manage Chart of Accounts Value Sets
    • Manage Account Hierarchies
    • Publish Account Hierarchies

    We understand this left us with three final activities, shown below:

    • Assign Balancing Segment Values to Legal Entities
    • Assign Legal Entities
    • Review and Submit Accounting Configuration

    ... however, when we go into the 'Assign BSV to Legal Entites' form the new Legal Entities are not available/visible in the drop-down?

    If we try the 'Assign LE' form having skipped the above we can see the LE and code value but the Company value then shows < No value > instead of the associated value set code and an error message to complete the Assign BSV to LE step first.

    Can anyone advise what we are missing/not doing?

     

     

    Version:
    Fusion 19C

    Best Comment

    Madhav Jupalli

    Hi Mark,

    Looks like you are on right track. First you need to complete task Assign Legal Entities to the ledger and assign the new LE. At this point you will see <No Value> in company value. Then you need to go to Assign Balancing Segment Values to Legal Entities task and highlight the new LE and add the company value.

    Comment

     

    • Madhav Jupalli

      Hi Mark,

      Looks like you are on right track. First you need to complete task Assign Legal Entities to the ledger and assign the new LE. At this point you will see <No Value> in company value. Then you need to go to Assign Balancing Segment Values to Legal Entities task and highlight the new LE and add the company value.

      • Mark Simpson

        Hi Madhav,

        That's great, thank you for the advice. I tried that approach and now have the LE setup in those screens. 

         

      • Mark Simpson

        Hi Madhav,

        quick follow-up question - is running the 'Review and Submit Accounting Configuration' process a must after the config side is completed?

    • Madhav Jupalli

      Hi Mark, This is not really required. You can check the ledger status in Mange Ledgers and if the status is green then you are good. I never run this process after adding a new LE.