Page 9 - Participant Guide ebook - Unanet GovCon Using General Ledger

Organizations

Organizations are a required fundamental building block in system setup. Unanet uses
organizations to group and maintain information about internal (e.g., departments,
business units, regions) and external (e.g., customers, vendors) entities. Organizations
facilitate reporting for people, projects, and financials.

Navigate: Organizations > List

There are three types of Organizations that form the foundation of business processes
in Unanet:

1. Financial Organizations are internal organizations that will be used to record
transactions for financial statements and reporting purposes.

2. Customer Organizations represent any entity from which payments will be
received for goods or services provided.

3. Vendor Organizations represent any entity to which payments will be made.
These may include individuals (e.g., subcontractors or employees being
reimbursed for expenses) or companies (e.g., utilities or materials suppliers).

Internal Financial Organizations
Internal departments or business units are set up as Financial Organizations to make
them available for transactional entries included in financial reporting. The Financials
tab on the Organization profile allows you to designate a Financial Organization. At
least one of these internal Financial Organizations must be designated as the Legal
Entity for which a set of accounting records will be maintained. Multiple legal entities
within a single instance or configuration of Unanet can also be set up.

LESSON 1: GENERAL LEDGER (GL)
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