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In AX 2012, what is the difference between Company and Legal Entity.
as per my understanding both are some thing,
Please refer following link
Please verify and update if this information helps you.
The word Legal entities is new in AX 2012. The company was more familiar. In fact it is the same. A legal entity is stored with a record-id for foreign key relations. When a field Company or DataArea is used, it is stored as string with the Company code (max 4 characters).
Thanks for your response? 2 questions.
1) If I want to create a new company in AX, should I choose Legal Entity or Company? Please justify.
2) In future, if I want to delete the company or Legal Entity as a whole and delete all the records, will it allow me to do so if I select any one of them during creation. since Legal Entity is new in AX 2012, it should have some advantage somewhere and I am just trying to understand that.
1) The form is called "Legal entities" in AX2012. So you are creating your companies as Legal entities. ;-) A field called "Company" is used for the Identification.
2) You can delete a Legal entity to delete the complete administration. This is possible, but you have to be sure it really should be deleted. Before that AX will ask a confirmation to really delete the Legal entity.
If you look at AX 2009 there used to be a form for creating Companies and another one for entering the Company info. In AX 2012 it is combined in one form and now called "Legal entities"
A legal entity is an organization that has a registered or legislated legal structure. Legal entities can enter into legal contracts and are required to prepare statements that report on their performance.A company is a type of legal entity. In this release of Microsoft Dynamics AX, companies are the only kind of legal entity that you can create, and every legal entity is associated with a company ID. This association exists because some functional areas in the program use a company ID, or DataAreaId, in their data models. In these functional areas, companies are used as a boundary for data security. Users can access data only for the company that they are currently logged on to.http://technet.microsoft.com/en-us/library/hh242144.aspx retrieved 05/01/2013
"In this release of Microsoft Dynamics AX, companies are the only kind of legal entity that you can create, and every legal entity is associated with a company ID"
Which means in a future release you will have the ability to link multiple companies to a single legal entity and report as one.
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