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Define Accounting configuration of Enterprise Structure for Procurement in Fusion

 

Legal entities are discrete business units characterized by the legal environment in which they operate. The legal environment dictates how the legal entity should perform its financial, legal, and management reporting. Legal entities generally have the right to own property and the obligation to comply with labor laws for their country. They also have the responsibility to account for themselves and present financial statements and reports to company regulators, taxation authorities, and other stakeholders according to rules specified in the relevant legislation and applicable accounting standards. During setup, legal entities are assigned to the accounting configuration, which includes all ledgers, primary and secondary.
Setup are listed as follows :
1) Manage Primary Ledgers
2) Specify ledger Options
3) Review and submit accounting Configurations
Navigate to Setup and Maintenance>Implementation Project
ZZ1

 

 

 In Manage Primary Ledger, click Create

 Input the name as KB15M_Ledger

 Select Scope > Assign Legal Entities> Apply and go to task

Click KB15M_Ledger under Manage Primary Ledgers 

 

Create New 

Search for KB in Legal Entities


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Kalyani Balbudhe

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Kalyani Balbudhe

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