CONFIGURE Multi-Entity Management Flashcards
Learning Activity 1
Configure Multi-Entity Management
1) Add a Journal
Go to:
General Ledger > Setup > Journals Add > Select Add > Set Values as follows:
Symbol: IET
Title: Inter-Entity Transactions
Select Save.
2) Configure the Multi-Entity Management Subscriptions.
Go to:
COMPANY > Admin > Subscriptions > Scroll down to Multi-Entity Management and Select Configure to enable it to work.
Go to:
Manage Multiple Entities Section > Multiple base Currencies Tab > Deselect the option.
Scroll down to Entity restrictions and set the following options:
Restrict access to top level only > Not Selected
Restrict General Ledger transactions to the Entity level only - Not selected.
Restrict subledger transactions to the Entity level only > Not Selected.
Scroll down to the section: Restrict access by Location, Location Group, Department, and Department Group, and set the following Values:
Customers > Selected
Vendors > Selected
Checking Amounts > Selected
Savings Accounts > Selected
Scroll down to Inter-Entity account settings section and set the following values:
Inter-entity account mapping plan > Select Advanced from the drop down arrow.
Scroll to the Inter-entity transactions Section, and set the following values:
Enable inter-entity transactions > Selected.
Enforce Journal entry balancing by > Select Entity
Limit AP Credits to the Entity owners > Selected
Limit AR Credits to the Entity owners > Selected
IET Credits Journal > Inter-entity Transactions
Click on Save to save all the above changes.
Refresh your browser.
Verify the Subscriptions by:
Go to:
COMPANY > Setup > Configuration > Verify that the menu now includes:
> Entities
> Inter-entity account mapping.
Learning Activity 2
Create Entities for your Group of Companies called Keyword.
Go to:
COMPANY > Setup > Configuration > Entities > Select Add > Go to the Entity Section under Entity Information Main Section:
ID > E100
Name > Keyword Email
Operating Country > United States
Tax ID > 24-1234567
Go to the Contacts Section:
Entity > Grace, Karla
Ship to > Grace, Karla
Scroll down to: Accounting Section.
First Fiscal Month > July
First Tax Month > January.
Scroll down to the Reporting Section.
Print Entity name as > Keyword Email.
Click on Save to save the first Entity.
Add the Second Entity called Keyword Social.
Click on Add on the same menu Path.
Go to Entity Section and set the values as follows:
ID > E200
Name: Keyword Social
Operating Country
Tax ID: 24-7654321
In the Contacts Section
Entity > Grace, Karla
Ship to > Grace, Karla
Scroll down to Accounting Section.
First Fiscal month > July
First Tax month > January
Scroll down to the Reporting Section.
Print Entity name as > Keyword Social.
Select Save to save the changes.
Refresh your browser so as to display the Entity Swither on the top left corner.
Verify that at the top there is now an Entity Switcher with:
Top Level .
E100 Keyword Email
E200 Keyword Social.
Learning Activity 3
Configure Advanced Inter-entity account mapping
First of all, Create General Ledger accounts for posting inter-entity transactions.
When done, you then Configure Advanced inter-entity account mapping.
1) Import General Ledger Accounts for inter-entity transactions.
Go to:
COMPANY > Setup > Configuration > Import Data > Scroll down to Setup company master list Section, > Hover over Chart of Accounts > Sekect Import > Choose the File from your folder. > Select the correct Data format ie. DD/MM/YYYY
Process offline > Deselect
Email results to this address > put your Email address.
Click on Import.
Select Done✔️ .
Verify that the Accounts were correctly imported by:
Click next to Chart of Accounts > Select View.
Verify that all the accounts on the Csv file were imported.
Configure Advanced Inter-Entity account Mapping
Go to:
COMPANY > Setup > Configuration > Inter-entity Account Mapping > Select Edit
Set the Values in Row 1 as follows:
Entity A > E100-Keyword Email
Entity B > E200-Keyword Social
Entity A IER > 1250-Entity 100 due from Entity 200.
Entity A IEP > 2200-Entity 100 due to Entity 200.
Entity B IER > 1251-Entity 200 due from from Entity 100.
Entity B IEP > 2201-Entity 200 due to Entity 100.
Click on Save to save the records.
Learning Activity 4
Importing Locations for all your Companies: Keyword entities.
NB: All Import files are located in the Course Resources folder.
Go to:
COMPANY > Setup > Configuration > Import Data > Scroll to, Setup Company master list > Hover over Locations > Select Import > Choose your file from the folder > Select the correct Date Format > Uncheck or Deselect, Process Offline > Type in your Email address > Click on Import > Select Done ✔️.
To verify if the Locations were imported correctly, Click on View next to Locations under the Set up Company master list.
Learning Activity 5
Set top levels and Entity colors for all your Entities
Setting up Color for the Top Level Company.
Go to:
COMPANY > Setup > Configuration > Company > Click on Edit > On the General Information Tab, Go to the Display Section, scroll down until you get close to the end. For Entity color - Top Level > Click on the color picker and Select any color of your choice, say Blue 💙 for this Entity.
Setting up Entity color for the group entities:
Go to:
COMPANY > Setup > Configuration > Entities > Hover over Entity 100-Keyword Email > Select Edit > Scroll down the Entity Section until you get to Color > Click on the color picker and select the color for this Entity say Gold color 😀.
Click on Save.
Setup color for the other Entity, E200-Keyword Social.
Go to:
COMPANY > Setup > Configuration > Entities > Hover over E200-Keyword Social > Select Edit > Scroll down Entity Section to Color > Click on the Color picker and select Purple as your color for this Entity 💜. Click on Save.
To verify if the colors were effected, Go to the Entity Switcher menu and Click on the drop down arrow to switch between the Entities and confirm the colors.
NB: Note that the Color for the Top Level is configured under the Setup, Configuration, Company Sub Menu while the Other Entities colors are configured under the Setup, Configuration, Entities sub menu.
