---
title: "Creating and Configuring Reporting Entities"
description: "Reporting entities are elements to which postings can be made. Reporting entities are used as organization units when setting up group structures."
source_url: https://support.lucanet.cloud/en/documentation/consolidation-financial-planning/platform-dimensions/reporting-entities/manage-reporting-entities
language: en
last_updated: 2023-08-16
---
# Creating and Configuring Reporting Entities

## Overview

[Reporting entities](https://support.lucanet.cloud/en/documentation/glossary.md#reporting-entities) are elements to which postings can be made. Reporting entities are used as organization units when setting up group structures.

## Creating Reporting Entities

To create a reporting entity:

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Right-click a folder and choose **Create | Reporting entity** from the context menu **.** The **Create Reporting Entity** dialog is displayed:

Creating a reporting entity

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Specify the **name** of the element.
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Select the **start of the fiscal year** and the **default currency** in which the transactions of the reporting entity are to be executed.
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Click **Save**.

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## Configuring Reporting Entities

Edit a reporting entity

To configure a reporting entity:

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Click a reporting entity in the tree view.
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Click **Edit** at the top right to open the editing mode.

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When configuring a reporting entity, the following options are available:

#### Start of the fiscal year

Allows selection of the first month of the fiscal year

#### Default currency

Allows selection of the currency in which transactions of the reporting entity will be executed

#### Partner

Partners can be assigned to reporting entities in the detail view of the respective partner (see [Creating and Configuring Partners](https://support.lucanet.cloud/en/documentation/consolidation-financial-planning/platform-dimensions/partners/manage-partners.md)).

#### Cost centers tab

- **Create default cost center:** Creates a default cost center if none exists
- **Balance sheet planning per cost center:** Accumulates planning values at the individual cost center level instead of using the default cost center

#### Currency translation tab

Allows selection of exchange rates created in the **Currency Translation** workspace (see [Creating and Configuring Exchange Rate Tables](https://support.lucanet.cloud/en/documentation/consolidation-financial-planning/platform-dimensions/currency-translation/create-configure-exchangerate-table.md))

{% info-box %}
The message **The changes shown in red will take effect only after exporting and importing the database** is displayed when adding or deleting exchange rate tables. This indicates that the changes will not take effect until the current database is re-exported and re-imported. If needed, contact your Lucanet administrator.
{% /info-box %}

#### Carry forward account tab

- Allows selection of an **account** and **transaction type** for the cancellation of the carry forward when importing cumulative balances
- **Activate historical exchange rate translation:** Allows automatic translation of historical exchange rates for the next balance import\
\
**Note**: This option is only available if at least one active exchange rate table is assigned to the reporting entity.