Add/Edit a Legal Entity
The Legal Entity tab of the Settings section in the Finance module is where the details needed for our Gift Aid claims are set up and also, the bank account details for Card and Direct Debit payments.
There will be a Legal Entity already added which will have the name of our primary location when our iKnow account was set up. We are able to edit the existing Legal Entity and add additional Legal Entities, if we need to. Each Legal Entity can have its own bank details attached to it.
To edit the existing details, we will need to click the orange Unlock and Edit button at the top right of the page. When the button is clicked we will need to enter our iKnow password to verify we are authorised to access these details. Once we have entered our password, we need to click the Verify button. As long as the correct password is entered, we will be able to make changes to the details.
To add a new Legal Entity we will need to click the Add Legal Entity button.
Choose Locations
We can choose which locations are attached to this Legal Entity, by clicking the Campuses button, and switching the toggle next to the location, or locations, we require. Each location can only be attached to one Legal Entity.
The details that we add, will need to match the details held by HMRC, if we wish to submit Gift Aid claims through iKnow. If the details are incorrect, HMRC will reject any Gift Aid claims we submit, until they are corrected.
The person added as the Finance Officer, will need to have a profile in the People module, and will need to have access to the Finance module.
Payment Processing
For Payment Processing, we will need to set up an account with the payment processor, which we can do by clicking the Set Up Details button. We have a separate video, that goes through setting up Payment Processing.
Once we have saved the details for our Legal Entity, we will be able to set up the Payment Processing.
Delete a Legal Entity
We are able to delete a Legal Entity, by clicking the red dustbin icon, at the top right of the Legal Entity. To delete a Legal Entity, we will need to unlink any Campuses, Payment Providers, Giving Page Embeds, Donors, Gift Aid Claims, and Campaigns.
Once we have made all our changes to the Legal Entities, we will need to click the Save and Lock button, at the top of the page.