What are the two essential steps to create a custom entity 'Report' with text fields and a calculated datetime field?

To create a custom entity named 'Report' with text fields and a calculated datetime field, the crucial step involves extending the existing entity framework provided by Guidewire. Creating an entity Report_Ext.eti serves as the foundation for defining the structure and attributes of the custom entity. This process allows for the customization of the entity while maintaining a link to the core functionality of Guidewire, thereby leveraging its existing features and capabilities.

By creating an extension file, developers can specify the properties, including text fields and the configuration for the calculated datetime field. This method ensures that the custom entity adheres to the Guidewire conventions, making it easier to manage and integrate with the existing system.

Utilizing direct updates in the database or creating entities without following the extension framework would lead to complications in maintenance, support, and upgrades, as these actions typically break the designed framework intended for ease of use and organization within Guidewire. Thus, extending entities through dedicated definition files is the best practice, providing both clarity and functionality in development efforts.