Create a Legal Reporting Unit

You must create a legal reporting unit before you set up the VAT tax. When a legal entity is created, a legal reporting unit with the same name as that of the entity is also automatically created.

Follow these steps:

1. From the Navigator console, click Tools, Security Console.
2. In the Setup and Maintenance work area, go to the Manage Legal Reporting Unit task.
3. Verify that the Legal Entity scope value is set correctly.
4. Go to Tasks and select Create.
5. Complete these fields to create a legal reporting unit:
   1. Select Korea, Republic of from the Territory field.
   2. Type a Name for the legal reporting unit, for example Vision Operations.
   3. Under Registration information, select the Jurisdiction and Legal Address. Enter the registration number for the legal reporting unit.
   4. Under Main Legal Reporting Unit, choose Yes or No to indicate whether the new legal reporting unit serves as the Main Legal Reporting Unit. If you select Yes, you must provide the Main Effective Start Date.
6. Click Save.