3.4.2.1.1 Legal Entity Settings

The Legal Entity Settings allow you to define the reporting currency used for financial transactions and reporting.

To set up the Reporting Currency, follow these steps:

1. To access Legal Entity Settings, go to the Home page, click Administration, and then select 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 configure the Reporting Currency and Fiscal Year for a specific Legal Entity, follow these steps:
   1. Select the required Legal Entity from the list (if available).
   2. 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.
   3. Set the Reporting Currency to the required standard. This Reporting Currency is used during the Execution Process in Process Orchestration.
3. Click Save to save the Legal Entity settings.