Legal entities

Setup › Legal entities. Only owners and admins can create and manage legal entities.

A legal entity is the company, partnership or sole trader that legally owns the money. See How VexLedger is organised if you are not sure whether something should be a legal entity or a brand.

Select Create a legal entity and work down the form:

1. Country. Where the business is registered or based.
2. Type of business. For the UK this includes sole trader, partnership, private limited company, public limited company, limited liability partnership, limited partnership, private unlimited company and community interest company. There is also Other registered body for things such as charities.
3. Find the company. For companies registered at Companies House, enter the company number (for example 12345678). VexLedger looks it up and fills in the registered name, address and details. You can see exactly what was pulled in before you save. If a company is not found, or you are not registered, enter the details by hand. They are saved as manually entered and not verified.
4. Business details. Address, and a VAT or tax number if you have one.
5. Accounting basics. The functional currency, the main currency the business trades and reports in.

For companies found at Companies House the screen shows whether the details are Verified, the incorporation date, registered office, nature of business, accounting reference date, when the confirmation statement is due, and the directors and officers. Use View on Companies House for the official record.

Delete unused removes a legal entity that has never been used. A legal entity with activity in its books cannot be deleted.