As part of the expansion of its current businesses, basic setup has been completed by the staff of the parent company, QMI. This ensures that all accounting and financial reporting functions are set up in accordance with corporate procedures.

All of the system-wide data is already available to QMI. Images of the domain and entity setup are shown here. Note that QMI has several shared sets that are common with other QMI divisions and two—customers and suppliers—that are unique to QMI.

This course uses a domain already set up with a base currency of US dollars (USD), a general ledger chart of accounts, and a GL calendar with periods that correspond to the standard 12-month calendar.