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Define the Legal Entity Types
Define any legal entity types required to distinguish the business partners being defined.
Define Business Classifications
Business classifications are used to monitor the government classifications, such as minority owned.
Creating Legal Entity Types
Pgm: BPLEGFM – Legal Entity Type Maintenance; standard Treeview path: Accounts Payable > Setup > Global Tables > BP Legal Entity Types
Legal entity types define the different types of business partners with whom business is conducted. In this screen, set-up the legal entity types used to group business partners for reporting purposes. When creating a business partner, there is the option of specifying a legal entity type.
Examples of legal entity types that you might define to group business partners are government entities, charities, and even sister-companies.
Legal Entity Code and Name
Enter the code that represents the legal entity being defined. Enter the descriptive name for the legal entity.
Legal Entity Type
There are three types of legal entities:
|
Type |
Meaning |
|---|---|
|
External |
Indicates there is no relationship between the company and any business partner assigned a legal entity code with this type associated with it. |
|
Affiliate |
Indicates there is some relationship between any business partner assigned a legal entity code with this type associated with it. |
|
Internal |
Indicates the business partner with this legal entity assigned is a part of the company. |
The legal entity type is used to determine what revenue accounts are to be used when selling inventory to a customer. For more information refer to the Inventory guide.
Required Flag
If business partners who are assigned this legal entity type are required to have a registration code entered before they can become vendors, check this box. Registration codes are used for 1099 reporting in the US and for storing GST numbers in Canada. The default value for this field is set on the Systems Option screen in the System Data menu.
Entering Business Partner Classifications
Pgm: PMCLSFCT – Business Partner Classifications; standard Treeview path: Accounts Payable > Setup > Global Tables > BP Classifications
Business partner classifications are used to apply one or more classifiers to a business partner. The functionality of these classifiers is used in the Project Management module. The most common use for these classifiers is for ownership classifications that may require government reporting, such as minority owned. These classifications can also be applied to second tier subcontractors.
Invoice Registration Setup Procedure
Set the Accounts Payable Control File flags
The AP Control File maintains checkboxes pertaining to the Invoice Registration functionality.
If checked, the ‘Use Invoice Series Code’ checkbox enables the Series field within the Enter Vouchers screen. As a mandatory field on invoices within the registry, the user requires access to this field during voucher entry to distribute and post registered invoices.
On the Voucher tab, the ‘Require Approval of Registered Invoices’ checkbox determines whether approval is required to convert a registered invoice into a voucher. This is an optional process, so this feature is not required to generate vouchers from registered invoices.
Check the ‘Require Approval of Registered Invoices’ box to register invoices to go through a formal approval process. Leave this box blank if approval is not required.
Specify the Invoice Registration Layout by User
Specify the layout for invoice registration by selecting an appropriate option within the Set User Defaults screen (standard Treeview path: Accounts Payable > Setup > Set User Defaults).
Create an Invoice Registration Group
Invoice registration groups are used to group the access, entry and approval of invoices entered through the Register Invoices screen.
The Register Invoices screen requires that the user enter the invoices into a registration group. For this reason, create at least one registration group and grant the appropriate user access to register invoices prior to the creation of vouchers within Accounts Payable.