Following are some of the bare minimum configurations to be in place, in the new legal entity, so as to start posting the transactions.
1. Legal entity creation
2. Number Sequences (either wizard or manual)
3. Chart of Accounts
4. Creation of Accounting Structure
5. Fiscal Calendar
6. Currency and Exchange Rate Setup
7. Configuration of Ledger:
o Chart of Accounts
o Accounting Structure
o Selection of Fiscal Calendar
o Selection of Accounting and Reporting Currency
o Selection of Exchange Rate Type
o Defining the Realized and Unrealized Forex Gain / Loss accounts (if applicable)
8. Dimensions and Dimension Values
9. Journal Names, mandatory of them are as follows:
o General Journal (GENJ)
o Vendor Invoice (VINV)
o Vendor Payment (VPAY)
o Customer Payment (CPAY)
o Write-Off (WRFJ)
10. Vendor and Customer Group
11. Vendor and Customer Master
12. Vendor and Customer Posting Profile
13. Bank Account Information
14. Bank Transaction Types
15. Terms of Payment
16. Methods of Payment
17. Date Interval
18. General Ledger Parameters
19. Accounts Payable Parameters
20. Accounts Receivable Parameters
21. Bank Parameters
22. Reason Codes
23. Aging Period Definition
24. Users creation
25. Employee Creation
26. Define Security Roles / Edit existing roles
27. Assigning the Security Roles to the Users
28. Associating the Users with the Employees
29. Form Setup
30. Form Notes
31. Configuring the System Accounts (Penny Difference, Error Account, Year End Balance etc.)
32. Workflows, if applicable
I think if all the above are in place then a user should not find any problem posting entries into a newly created entity.
Thanks!
AXAPTAMANIAC
