Legal Entity in Peoplesoft

When a legal entity is created, a legal reporting unit with the same name as the entity is also automatically created. To create additional legal reporting units or change settings, follow these steps: The legal address must have been previously entered using the Manage Legal Address task. You can also enter the start date. If the start date is empty, the legal entity is effective from the creation date. By default, a record of a legal entity with the same name as the legal entity is created. To verify this, locate the Manage Legal Entity Registrations task, and then select Go to Task. To create another record for the legal entity, follow these steps: Define a legal entity for each registered entity or other legally recognized legal entity for which you want to record assets, liabilities, and income, pay transaction taxes, or conduct intragroup transactions. This sets the scope of your task list to the selected legal entity. If this legal entity is not a legal payroll unit, optionally select an existing legal entity to report payroll tax and social authority on behalf of this legal entity. Select Yes or No for the main reporting unit. Set the value to yes only if you are creating a new legal statement master (main) unit.

If you want your legal entity to be registered for payroll and social security reporting, optionally select the Legal unit for payroll check box. If your legal entity has employees, optionally select the Legal employer check box. To continue this discussion, please ask a new question. Enter the registration number of the legal reporting unit. This topic has been locked by an administrator and can no longer be commented. In the Configuration and Maintenance workspace, navigate to the Manage Legal Entity task. Find and select a legal address, 500 Oracle Parkway, Redwood Shores, CA 94065. In the Configuration and Maintenance workspace, navigate to the Manage Legal Entity Registrations task. Make sure that the value in the Legal Entity box is set correctly. You can also enter the alternate name, registration number, place of registration, issuing legal authority and address of the issuing legal authority, start date and end date. Accept the default setting Jurisdiction Identification, U.S. Income Tax.