The most important requirement for a business is to be able to manage and record its interaction with customers, clients, partners and staff. The basis of this is a record or an Account. An Account is set up for each transaction and is the main way to track and monitor activity.  A new account should be set up to match the correct legal ownership of each transaction for example:

Mr Smith buying a property in his own name would have an account “Mr Smith”.

Mr Smith buying a property with his wife would have another account “Mr & Mrs Smith”.

Mr Smith buying a property with his friend Mr Jones would have another account “Mr Smith & Mr Jones”.

Mr Smith buys a property in the name of a company that he owns, that would have its own account “Smith Company Pty Ltd”.

Each of the above reflects the correct ownership recorded on the transaction.

The Accounts view is the most powerful tool within CompleteEmpire enabling you to quickly and in one place, review your businesses current., past and future activities and relationship with your clients and associates.

Entities are the actual legal status of the person or organisation, used to track the specific personal records and information (such as date of birth for an individual or date of incorporation of a company).

Whereas a person can have many different accounts such as above, an entity is unique to one person or structure.

The email address is used to monitor this uniqueness and therefore once an email address is used for an entity it cannot be assigned to another entity.

Entities are also used in CompleteEmpire to manage log in access and security clearances throughout the site.

It is recommended but not essential that you establish an entity when you are setting up the account as the additional data is valuable.

In the example of Mr Smith’s accounts above, when you create the “Entity” Mr Smith, it can be linked to each of his accounts being his personal account and the joint ones with Mrs Smith & Mr Jones.

In doing this, if Mr Smith has login access, he would have visibility of all three accounts as may be permitted. If the Entity is not linked to the account, then that account would not be visible.

If an entity is associated with an account that has several entities associated, then they can be linked but the system will require a dummy email address to set.  Once linked the single login will suffice.  Most typically an example would a SMSF where the entity will not necessarily have a unique email address.

For all staff that you wish to have access to the system, you will need to establish an account and entity so that you can assign the appropriate activities that they will be allocated.