The Entity screen can be accessed in several ways.
1) When you first create a Reportance file, you are automatically taken to the Entity screen to begin entering your clients details
2) From the Client Info screen, you can Edit to open the Entity detail screen for the current client entity. You can also press Setup Additional Entity on the right hand side which will allow you to add an additional entity to this file, which is relevant where you want to manage a client group and the chart of accounts collectively.
3) If you have multiple entities, the screen will look slightly different, and you can select Edit from the left hand side menu to enter the Entity screen for that entity.
The fields and their descriptions are shown in the following table:
|Legal Name||The legal name of the entity||Required Field|
|Trading Name||The most relevant trading name of the entity which will appear on reports (if relevant). Leave blank if you don't wish to specify one.|
|Type||The entity type will change terminology through Reportance, including in the chart of accounts and in reports etc. If left 'Unspecified', general terminology will be used throughout the application.|
|Client Code||The client code for this entity in your CRM, and will be passed through to the workpapers. It is for your reference only.|
|ABN||Australian Business Number||Must be 11 digits|
|ACN||Australian Company Number||Must be 9 digits|
|Managers (Term changes based on entity type)||Indicate the number of managers. This determines whether reports will use singular or plural expressions when referring to the management. Management would include Director for a company, Trustee for a trust, Proprietor for a sole trader etc. Clicking on Details allows you to list the relevant managers. Those with 'Is Signing' ticked will have their names included in the Client Declaration part of any reports generated for this entity.|
|Owners (Term changes based on entity type)||
Indicate the number of managers. This determines whether reports will use singular or plural expressions when referring to the owners. Owners would include Shareholders for a company, Beneficiary for a trust, Proprietor for a sole trader etc.
|Signing Partner||The partner whose name will be included in the Compilation Report by default when generating new reports.|
|Description||A field for your reference to put any additional notes about this entity.,|
|Is a Consolidated Group (Tick Box)||Indicates that this entity is a 'nominal' entity used to represent a consolidated group. See the article on Consolidations.|