Fld Financial Organization Type

This field is used to identify whether a Financial Organization is a separate Legal Entity or a sub-division of some other Legal Entity (a relationship which must be identified and can never be changed).

Legal Entity -- By Legal Entity we mean that we would like to be able to create a 'set of books' for this organization, to include for example, the balance sheet and the income statement. It is at this level we will require that your debits and credits will have to balance out within Unanet.
- Default GL Posting Organization -- Should the current organization be a Legal Entity, you will have the option to specify a Default GL Posting Organization for use in the posting procedures.
Sub-Division of a Legal Entity -- Should the current Organization be a sub-division, you will be required to specify which Legal Entity Organization this Organization belongs to. Once set, this value cannot be changed.

Establishing an organization as a Legal Entity is done on the Organization >> Edit >> Financials tab (Financial Organization Type >> This Organization is a Legal Entity radio button field).

Any other Financial Organization has indicated it is a sub-division of this Legal Entity.
Any transactions have been posted to this Organization.

In the Organization List, the Legal Entity field will contain a check mark if the current Organization is designated to be a Legal Entity.