Some teams run more than one LLC — one per market, one per entity type, or one per property — and keep their books per entity. Legal Entities is how TED tracks which entity a deal belongs to.
This is entirely optional. A team that runs one LLC (or none at all) never needs to visit this page, and no picker for it appears anywhere in the product until at least one entity exists.
Setting up your entities
Admins manage the list from Settings → Legal Entities. Select Add Entity and fill in:
- Name — required, e.g. "Acme Holdings LLC".
- State — optional, e.g. "TX".
- Notes — optional, for anything else worth remembering about it.
Select the pencil icon on an entity to edit these fields later.
Setting a default
Select Set default on an entity to make it the one new deals are assigned to automatically — useful if your team is mostly one LLC with the odd exception. Only one entity can be default at a time; setting a new one clears the previous default. Select Default again to clear it, so new deals go back to having no entity assigned.
Archiving an entity
Entities can't be deleted, only archived, from the same menu. Archiving stops the entity being offered on new deals, but it never changes what's already assigned — a deal already pointed at an archived entity keeps showing it (labelled "(archived)"), so nothing gets silently reassigned. Restore from the same menu puts it back in normal use.
Assigning a deal to an entity
Once your team has at least one entity, a Legal Entity field appears on the deal's Deal Info tab, in the Deal Facts section. Pick one from the dropdown, or leave it unset — same as any other field, this saves with the tab's Save Changes button.
Where entities show up elsewhere
- Reports — on any report, select Add filter, pick Entity and type the entity's name to see profit by lead source, by rep, or by period for one entity at a time. QuickBooks Export has its own Entity filter once your team has entities set up.
- A deal's financial breakdown — the P&L Statement shows the deal's assigned entity next to the Projected/Actual badge, and on the printed version.