What Should I Consider Before Setting Up a Company?

The company is the highest organizational element in the General Ledger application. It can represent any business or legal entity of an organization, such as a corporation, holding company, division, or region.

Structure your company to match your business needs. You must decide whether you will need a single company or multiple companies. For more information on company structure, see the General Ledger User Guide.

The details used by Accounts Receivable once the GL company has been set up include:

• company number and address

• assigned chart of accounts

• GL calendar

• currency options