Legal Entities and Business Units (0racle)
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Legal Entities and Business Units
Legal Entities and Business Units
Legal Entity is a company or organization that is legally recognized. It can enter into contracts, own assets, pay taxes, and is responsible for legal obligations. Examples include Private Limited Companies, Corporations, and Government Organizations. In ERP systems like Oracle Cloud, legal entities are used for legal reporting and compliance.
Key Features of Legal Entity:
Registered with a government
Has its own tax ID and bank accounts
Can be sued or sue others
Responsible for legal and financial reporting
Business Unit is a part or division of a legal entity that performs specific business functions such as sales, procurement, or human resources. It is not legally separate but helps organize internal operations.
Key Features of Business Unit:
Operates under a legal entity
Used for managing day-to-day transactions
Helps divide roles and responsibilities
Supports workflow and business processes
🔁 Relationship:
A single Legal Entity can have multiple Business Units. Legal Entity ensures compliance and reporting, while Business Units handle operations and transactions.
Example:
A company "ABC Pvt Ltd" (Legal Entity) may have Business Units like "Sales BU", "Finance BU", and "HR BU".
Legal Entities and Business Units
Legal Entity is a company or organization that is legally recognized. It can enter into contracts, own assets, pay taxes, and is responsible for legal obligations. Examples include Private Limited Companies, Corporations, and Government Organizations. In ERP systems like Oracle Cloud, legal entities are used for legal reporting and compliance.
Key Features of Legal Entity:
Registered with a government
Has its own tax ID and bank accounts
Can be sued or sue others
Responsible for legal and financial reporting
Business Unit is a part or division of a legal entity that performs specific business functions such as sales, procurement, or human resources. It is not legally separate but helps organize internal operations.
Key Features of Business Unit:
Operates under a legal entity
Used for managing day-to-day transactions
Helps divide roles and responsibilities
Supports workflow and business processes
🔁 Relationship:
A single Legal Entity can have multiple Business Units. Legal Entity ensures compliance and reporting, while Business Units handle operations and transactions.
Example:
A company "ABC Pvt Ltd" (Legal Entity) may have Business Units like "Sales BU", "Finance BU", and "HR BU".
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