We’ve converted the naming conventions of our legacy Account Groups, used to label and report on various slices of accounts to avoid confusion with the new Entity level references.
The new naming conventions for our legacy Account Groups are below:
Legacy Account Group for “Entity” → “Entity (legacy)”
Legacy Account Group for “Region” → “Region (legacy)”
Legacy Account Group for “Division” → “Division (legacy)”
Visual: Difference between the Entities Module and Groups Module
We encourage everyone to get acclimated and migrate their legacy Entity Account groups to the new and improved Entity Management structure. This will allow users to leverage the three available account groupings for other slices of account level groupings that they wish to report on.
Getting Started
After logging into Trovata’s web-app, click “Entities” from the nav menu, followed by the “Create Entities” button.
Here, you’ll find the core steps to import and structure your entity data.
Bulk import Entity Data on the Data Tab
Assign Accounts to Entities on the Accounts Tab
Set your Entity hierarchy/structure on the Structure Tab
Bulk Import: The grid view is designed to give you visibility into the available static fields (or columns) along with copy / paste formatting requirements necessary to expedite the data import process.
Keep in mind, the only required fields in this step are:
Entity Legal Name - formal legal entity name.
Entity Alias - in-app entity reference.
Functional Currency - the base currency that each entity does business in
After you’ve properly organized your entity data into the supported format on another spreadsheet, simply copy and paste all cells directly into the Entity grid.
The Entity grid itself will not allow you to move to the next stage until the three required columns have values.
Custom Fields can be setup on the far right side of the Grid.
Click the plus sign to create a new custom field column.
Paste or type the entity level values into the new custom field column.
Click “Next” to continue.
Assign Accounts to Entities
For each Entity, click the “Select Accounts” button to search, filter, select, and apply a group of accounts to each Entity.
The goal of this section is to map all of your accounts to the correct entity.
Click “Next” to continue.
Design your functional Entity hierarchy
Click and drag each sub-entity to it’s parent entity to define your legal entity structure.
Alternatively, click the check mark to the left of the entity, followed by “Move Entities” to select the applicable parent entity to nest it under.
Click “Next” to continue.
Review
Review the Entity metadata (info tool tip), account assignments, and Entity structure.
Click “Save and Close” to continue.
View Entity Metadata and Structure
Entity Structure Overview
The image above displays an example of an entity structure after completing the bulk import steps that are noted in the "Getting Started" section.
Remember, there are only 3 required fields to complete the bulk import: Entity Legal Name, Entity Alias, and Functional currency.
If you choose to complete the Country column, a flag representing the Entity country will become visible to the left of the Entity Alias.
The number of sub-Entities at each level is highlighted in the badge on the right hand side of the Entity row.
In the example above, you can see that Trovee Global, Inc (the main Entity) has two child Entities (Trovee Labs US and Marketplace US) and those child Entities each have two subsidiary Entities of their own. The number of sub-Entities at each level is indicated by the number on the right hand side of the row
View Entity Metadata
Click any Entity Alias to view it’s metadata in the right hand panel.
The following sections are displayed:
Data (tab)- contains all metadata related to the selected Entity (highlighted in blue)
Custom Fields (tab)- shows custom fields that are applied to all Entity objects and the Entity level value.
Accounts (tab)- lists out all accounts that are associated to the highlighted entity. Keep in mind accounts can only be applied to a single Entity.
Personnel (tab) - is an area where you can add one or more individuals who are associated with an Entity. Common use cases include: Entity Owner, VP, Director, General Contact, and Entity-level Signers.
Personnel is a unique field in that its values can only be managed from a single entity Edit.
Manage Edits to Entity metadata or Structure
Single Entity Management
Click the Entity you’d like to edit, exposing the details panel, and then click the three dots followed by “Edit”. This will expose four tabbed section: Data, Custom Fields, Accounts, and Personnel.
Data (single Entity edit tab)
The Data section allows you to change any of the Entity metadata values.
Custom Fields (single Entity edit tab)
This section displays the Custom Fields that are applied to all Entities and the single Entity level values. Since custom fields are applied to all Entities, we recommend managing Custom Fields via the Bulk Edit Flow.
To edit an existing single-entity field, select the three dots to the far right of the custom field you wish to change.
From here, you will be able to change the custom Field Name, data Type and be able to select if you’d like to allow for searching/filtering on this field.
Note: The search/filtering checkbox allows our users to leverage these custom fields in TQL, featured in Analysis/Reports and the Transactions page.
We recommend keeping this section unchecked if your users do not plan to use the field in TQL.
To create a New Custom Field, click the button in the top right corner of this section and set a Field Name, select the data Type, and make a search and filter selection.
Accounts (single Entity edit tab)
This section displays all accounts that are mapped to a specific Entity.
To add or remove accounts, click the Manage Accounts button in the top right corner.
Keep in mind accounts can only be applied to one Entity, so in order to add a new account to an Entity, it needs to first be removed from another Entity.
In the animation above, you can see that there are 0 available accounts to choose from, indicating all accounts in this instance are already mapped to an existing Entity.
We recommend leveraging the Bulk Edit Flow to remove and add accounts to multiple Entities more efficiently.
Personnel (single Entity edit tab)
This table enables our users to map the name, role, and contact information of individuals who are related to an Entity. Common use cases include: Entity Owner, VP, Director, General Contact, and Entity-level Signers.
To edit an existing Personnel record, click the three dots icon on the right side of the row.
To create a new record click the “New Personnel” record in the top right corner of this section.
Personnel records can only be managed in this Single Entity edit flow.
Bulk Entities Management
To toggle the Bulk Edit flow, click the Manage Entities button in the top right corner of the Entities page.
From here you will be able to change Entity metadata (Data tab), Accounts (tab), or the Entity Hierarchy all at once for all Entities in your instance.
Make sure to click the Save button in the top right corner after making one or more changes in each section.
Note: Personnel is the only field type that needs to be managed at a single Entity level.
Entity Data Fields - Static
* = Required
Field (Column Name) | Definition |
Entity Legal Name* | Official Legal Name of the Entity |
Entity Alias* | Internal Name of Entity used in Trovata’s UI. *If this is the same as Legal Name, it’s perfectly fine to have the same value in both fields, since it’s required. |
Functional Currency* | Reporting currency of the Entity |
Entity Code | Internal reference code for the Entity |
Region | What region is this Entity located? |
Division | What business unit or division related to the Entity? |
Entity Tax ID | Tax ID of the Entity |
Entity Description | Free text field to add context about the Entity |
Opening Date | Date the Entity opened |
Closing Date | Date the Entity closed |
Address Line 1 | Street address 1 |
Address Line 2 | Street address 2 |
City/Suburb/Town | City/Suburb/Town |
State/Province | State/Province |
Zip/Postal Code | Zip/Postal Code |
Country | Country
|
Entity Contact Phone | Entity Contact Phone |
Entity Contact Email | Entity Contact Email |
ERP | ERP System used to report Entity Financials |
ERP Entity Reference | Reference to the Entity in the ERP System (above) |
Entity Data Fields - Custom
Types |
|
Text | Free text field |
Boolean | “True” or “False” values are accepted |
Number | Number values are accepted |
Date | Date field |