Legal Entities

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Overview

Legal Entities are your company's business units, usually in different countries, that have different company information.

For example, My Company is “Amazon.com” and I want to sell Amazon.com, AWS, Zappos, Audible, and Prime Video out of MonetizeNow. The Quote document tells your customer from which Legal Entity they are purchasing. MonetizeNow tracks sales and revenue by Legal Entity to enable accurate Accounting for your business.

When Sales Reps create a quote, they indicate from which Legal Entity they are selling to this customer.

As an Admin, You can configure each of your legal entities.

How it works

In your tenant settings, you can add additional legal entities and each entity will have the following:

  • Name
  • Address
  • Logo

You can also decide which legal entity is the tenant default. When the default is set, each account will have the default legal entity unless otherwise specified

Once you are creating a quote, you can then set the legal entity and this will set the legal entity on the bill group

System Behavior

Legal Entities control and determine the following:

  • FROM address shown on Quotes and Invoices
    • Note: Quotes and Invoices will belong to exactly 1 legal entity
  • Logo shown on Quotes and Invoices

Configuration

Setting up Legal Entities
  • Legal entities are stored under Company Settings
  • User can add additional legal entities
  • Legal entities can be deleted if there are no associated accounts
  • User entity can always be fully edited
  • Exactly one legal entity is required to be default and must be created when a new tenant is created.
When creating a new customer Account
  • Legal entity will be required and defaulted to the default legal entity for the Tenant

Updated 3 months ago