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Business Entity Settings (BE) **

Warren Hamilton
Warren Hamilton
  • Updated
Create and add new business entities and set up their details in the system. This involves capturing the business entity legal and tax details including business address and set up of retained earnings GL account.




1. From the homepage, go to Arrears Management module.

2. Navigate to the Mass Arrears Exemption.




1. Set up Business Entity Details:

a. Input the Business Entity Name.

b. Select the Retained Earnings GL account from the list.

Note: Go to GL Account Segment and GL Account under Finance module to set these up.

c. Input the Business Entity Tax details:

  • VAT Registered?: Yes or No
  • VAT Registration Date
  • VAT Registration Number

d. Upload Business Entity branding:

  • Logo
  • Letterhead
  • Footer

e. Input Business Entity business address:

  • Country
  • State
  • City
  • Address

2. Set up the GL and Tax Settings:

a. Set the Default Calendar from the list.

b. Set the Default GL Account Segment:

  • Cost Centre
  • Activity

c. Set the Tax Settings:

  • Cost Centre
  • Activity
  • Add the Tax Setting by clicking the Add button

d. Set the Recoverable Setting as same as expense account: Yes or No

e. Set the FOREX Natural Account


3. Set up the AR Settings:

a. Set the AR payment terms and Default Tax Code.

b. Set the AR Account Segments:

  • Cost Centre
  • Activity

c. Set the AR Natural Accounts:

  • Receivables
  • Advanced Revenue
  • Write Off
  • Write Off Tax
  • Refund
  • Default Collection Bank Account

4. Set up the AP Settings:

a. Set the Default Payment Mode.

b. Set up Vendor Settings:

  • Debarred Vendor Policy: Show or Hide
  • Payment Term
  • Default Tax Code for GST Registered Vendor

c. Set up Procurement Settings:

  • Number of days allowed for backdating in the same accounting period
  • Number of days allowed for backdating to earlier accounting period

d. Set up the AP Account Segments:

  • Cost Centre
  • Activity

e. Set the AP Natural Accounts:

  • GRN Accrual Account
  • AP Account
  • Deferred Expense Natural Account
  • Prepayment Natural Account
  • Enable AP Cut-off Date?: Yes or No

5. Set up the Inventory Settings:

  • Enable Inventory Cut-off Date?: Yes or No

6. Once done, click the Save button.



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