Accounting is available on Pro and Prime plans
Accounting Settings can be found from Settings in the main menu, all information you add will be used to automate your accounting across the platform.
- Base currency: Your company base currency is shown here. This is the currency of your books and reports. Other currency transactions will be translated to your base currency.
- Accounting method: Select your default accounting method from the drop down menu. Watch video to find out more about Cash and Accrual accounting.
- Fiscal year end: Tap on the calendar icon to select your fiscal year end date.
- Company Tax type: You can set your company tax type by default by choosing “No tax”, Single and Multiple.
- No tax: the default tax rate everywhere is “None” and the tax selector is disabled.
- Single: the tax selector contains only one tax rate.
- Multiple: the tax selector consists of one rate tax and group taxes (compound or multiple).
- You can switch between these types whenever you need.