Concept: Single Legal Entities (USA)
- Single Legal Entities
- A Single Legal Entity (SLE) company relationship establishes a one-to-many relationship between one managing company (designated as the legal entity) and related companies. You can create an SLE company relationship to produce financial and managerial reports for the legal entity and its related companies.
- For tax reporting purposes, Workday treats all companies in the SLE relationship as a single company. Workday requires that you set up tax configurations for the SLE in addition to the related companies. Federal, state, and local tax setup must be the same for all companies in the relationship.
- SLE relationships enable you to:
- Track transactions for the legal entity company and each related entity company.
- Produce consolidated financial reports for the legal entity.
- Produce individual reports for the related companies in the SLE
- Perform transactions between nonlegal entities within the same SLE relationship
- Segregate sensitive data within the SLE.
- Workday processes payroll for each related company in an SLE and respects limits across companies for taxes and withholding orders.
- Single Legal Entity Reporting
- When you run the1099 MISCreport for an SLE company, the report includes transactions from the SLE company and its related companies.
- Example
- Company A is the managing legal entity company for Company B.
- Company 1 is the managing legal entity company for Company 2.
- Both SLE companies and their related nonlegal entity companies are part of the Global Modern Services company hierarchy.
When you run the1099 MISC Reporttask for the SLE Company A, click the value in theReportable Amountfield to display a breakdown of the transactions and their amounts for Company A and Company B.When you run the1099 MISC Reporttask for the Global Modern Services company hierarchy, the report displays amounts for the Company A and Company 1 single legal entities.When you create a balance sheet statement for the Global Modern Services company hierarchy, it displays consolidated transaction information for all legal entities and their related companies.