Missing MR report in new legal entity

Yesterday a colleague contacted me about missing all of the reports in Financial Reporting (previously Management Reporting). After looking around a bit and doing the mandatory reset of the DataMart (which did not help) I found this article mentioning the minimum steps needed in a new legal entity for it to appear in the Financial Reporting UI.

Link
https://docs.microsoft.com/dynamics365/finance/general-ledger/financial-reporting-getting-started

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