Thinking aloud - Legal entity is typically a ‘balancing segment, in chart whereas ‘tracking code’ is anything you want and need not be complete or balance.
How do you see the distinction? What if folks want to track projects, maybe across multiple divisions or legal entities. Company 01 division A charged 100 to project X. Company 01 division B $200 and Company 02 $300. I get it but whereas you can (for now) use a tracking code to try to track divisional activity if that’s what your tracking. You can’t track a project as a division.
I’d be in favor of leaving tracking codes generic and if the demand is really there for divisions or legal entities think about a multi-segment COA. (Or consolidation for multiple businesses).
While you can use a tracking code to track a division. A division isn’t a project. I get the concept but tend to think these are two distinct dimensions. I can see the need for some for division but not as a replacement/at the loss of tracking codes.
If we are going to have divisions please let those divisions track projects and/or even share projects (tracked things) across divisions.