Defining reporting entities and linking them to ledger codes
For lease accounting, it is important to be able to report financial data to a financial system. As most companies have their own set of ledger codes, Planon allows you to define your own reporting entities and link them to the ledger codes used within your organization.
Procedure
1. Go to Financial reporting entities > Components.
Follow steps 2 and 3 if you want to link financial reporting entities to an ERP system. If your company has a link to multiple financial systems, this is a way to specify different ledger codes per system.
2. Go to the ERP systems selection step and click Add in the action panel.
3. Specify a name and code for the ERP system and click Save.
Follow steps 4 and 5 if you want to link financial reporting entities to an operating company. At very large companies, it is common that ledger codes are specific per operating company. For all these operating companies, a specific structure of ledger codes can be defined, so that financial reporting can be specific per operating company.
4. Go to the Operating companies selection step and click Add in the action panel.
5. Specify a name and code for the operating company and click Save.
6. Go to the Financial reporting entities selection step and add the required reporting entity (-ies).
8. Go to the Ledger accounts selection level and add your specific custom ledger codes that are sent to the financial system. These codes are used when the financial reporting entity is linked to a contract line and postings are created for this contract line.
9. In the data panel, complete the relevant fields. For more information these fields, see Ledger account fields.