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Financial Dimension for Legal Entity (Entity-Based)

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Posted on by G-Squared 244

Please advise on your experience with an entity-based Financial Dimension for Legal Entity.  

Our environment has multiple legal entities with a Shared Chart of Accounts.  Having the Legal Entity dimension would make it possible to put logic into the GL Account Structures for defining valid values per Legal Entity for the other Financial Dimensions.   

Question: How best can the default value for the Legal Entity dimension be populated?  One method would be to put a Legal Entity override on every Main Account for every Legal Entity and populate the value there for the Legal Entity dimension.  Data Management templates would help with this because 1000's of lines of detail for Legal Entity Overrides would be needed for our environment.

Is there a simpler method for specifying the default value for a Financial Dimension for Legal Entity?

Categories:
Finance and Operations
  • G-Squared Profile Picture
    G-Squared 244 on at
    RE: Financial Dimension for Legal Entity (Entity-Based)

    Another option is that I can use the Financial Dimension Legal Entity Overrides and suspend individual financial dimension values for specific legal entities.  When I do this, it removes the Financial Dimension value from the "List of Values" in the drop-down for the specific company as specified in the Legal Entity Override.

  • G-Squared Profile Picture
    G-Squared 244 on at
    RE: Financial Dimension for Legal Entity (Entity-Based)

    Hi André,

    Reasons for being interested in a Legal Entity dimension include:

    - LE dimension could be used to build logic in the GL Account Structure

    - LE dimension would be visible in Consolidation Companies to show the source of the entry.

    I am surprised that we would need to use the Legal Entity Overrides on every Main Account to specify the default value for the Legal Entity Dimension but it would work.  Data Management templates would be the way to load the defaults but it would many lines.  I am surprised that there is no place to specify a default value for a Legal Entity dimension at the level of Legal Entity / Company but I/we can work with it.

    Thank you for responding.

  • Verified answer
    André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 291,784 Super User 2024 Season 2 on at
    RE: Financial Dimension for Legal Entity (Entity-Based)

    Hi G-Squared,

    The overrides would be the best place, but I wonder why you want to do this. Each transaction is tight to a ledger, representing the legal entity. So also storing the dimension value would be a duplicate of it. Usually a legal entity dimension is used with the purpose to know where costs/revenue came from or for allocation.

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