People
People are a form of Entity in the system that can be legal entities receiving Allocation Rule allocations.
People Features
People are part of the basic set of Entities within the LemonEdge platform. There are 3 different types all that relate to the Transactions within financial services. These are Entity Sets, Entities and Instruments - see here for more information.
Core Entity Functionality
People inherit the core Object Entity type in the system. Any custom entity created using our auto-code designers, or classes created through our API, that inherit the Object Entity type also acquire the core Object Entity functionality.
This core functionality allows those classes (in this case People) to be legal entities within an Entity Structure of an Entity Set, can be allocated to in Allocation Rules, and can be the legal entity Transactions are booked against.
Caution
Although People inherit all these capabilities of Object Entities, they are not active by default. A person is hardcoded to have the "Has GL" property set to false sp it doesn't act as legal entities within an Entity Structure, and thus can not have Transactions booked against it. This can be overridden should you require to do so.
The 4 core properties, that all Object Entities have, that help them interact with Transactions are as follows:
- Currency
If Transactions are booked against this legal Entity then this is the Functional Currency the Transaction will be recorded in - the currency of this Entity. - Has GL
This indicates this entity can act as a legal entity that Transactions can be booked against. As such Transactions and GL Postings are allowed to be created against this Entity. It also means this Entity can have Period Closings. - Allow Rule Allocations
This indicates that this is a legal entity that want to be allowed to be part of allocations within an Allocation Rule. - Name/Code
The unique name and short code for this Entity
If an Entity is a legal Entity that can have Transactions booked against it then that means this entity also can close periods to force Transactions to always be booked into the next open period. See here for more information.
All classes inheriting Entity Object have these abilities, People is one of the system default implementation of this. This allows you to start configuring the platform without a line of code, or without using a designer, and creating Transactions immediately that allocate to ultimate owning Entities such as People or Companies.
Views
People have the following views:
