Define a legal entity for each registered company or other entity recognized in law for which you want to record assets, liabilities, expenses and income, pay transaction taxes, or perform inter-company trading.
Legal Entity is Required to publish specific and periodic disclosures of your legal entities‘ operations based on different jurisdictions' requirements.
Your legal entities can be identified as legal employers and therefore, are available for use in Human Capital Management (HCM) applications.
Frequently, a business unit is part of a single legal entity.
Division is an area of management responsibility that can correspond to a collection of legal entities.
Divisions and legal entities are independent concepts.
Legal entities are mandatory.
To setup the Legal entity by ESC, Go to Manage legal entities tab of task Establish Enterprise structure:
Below is the pictorial representation:
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