7.2.1 Legal Entity Settings

Use the Legal Entity Settings to set up the Reporting Currency.

To set up the Reporting Currency, follow these steps:

1. To navigate to Legal Entity Settings, on the Home page, click Administration, and click Legal Entity. The Legal Entity Settings page is displayed.
2. On the Legal Entity page, all available Legal Entities are listed on the left hand side. To set up the Reporting Currency and the Fiscal Year for a Legal Entity, select the required Legal Entity, and do the following:
   • Set the fiscal period to open for posting entries by disabling or closed for posting entries by enabling the Locked? option. An open posting period is when the selected posting period is set to open and the other posting periods stay closed.
   • Set the Reporting Currency to the required standard. This Reporting Currency is used during the Execution Process in Process Orchestration.

   Note:

   Once a new Legal Entity is available, users must select the new Legal entity and select the required Fiscal year in the Legal Entity Settings screen and click Save. This action must to be performed whenever a new Legal Entity is added and is selected for the required Fiscal year.
3. Click Save to save the Legal Entity settings.