What
Users can now link Legal Entities to Bank Accounts for better tracking of financial transactions.
Where
Home > Placements > Select an Existing/New Record > Finance > Finance Details
IMPORTANT NOTE: The facility to create an Accounting Legal Entity can only be created if users have relevant security permissions. Please speak to your internal Systems Administrator if you would like permissions to access this, or speak to them to action any Legal Entities that you have.
How
The expected result is that whenever new Legal Entities are added, as long as a valid Bank Account is selected, then this will be displayed anywhere in Mercury that allows the use of both fields. The functionality is vice versa so that whenever a Bank Account is selected in Mercury, the existing value will be returned in the Accounting Legal Entity field.
In this example, we can find the Accounting Legal Entity field within a Placement.
1. Access a Placement and click into the Finance section. From here a new or existing entity can be chosen:
2. Once within an Accounting Legal Entity, any existing Bank account will be displayed in the Bank Accounts section. This record can be separately accessed which will contain key information on how the account has been set up:
3. These lookup fields are for illustrative purposes and do not have any effect on any external system. They are meant to demonstrate the purpose of the actual maintenance or actions of the entity/bank account that sit outside of the system parameters:
Authored by Arden Shaw - Digital Adoption Consultant @ Mercury