Configuring Workspace Preferences, Tax & Currencies
Establish a compliant commercial profile by configuring your legal trading name, tax registration number (TRN), decimal accuracy, operational currency, and default taxation rules.
[IMAGE - Settings workspace view showing business profile, tax registration number input, currency selector, and decimal precision options]
Step-by-Step Configuration
- Navigate to Settings from the main sidebar.
- Under the Business Profile section, enter your official legal name, trading name, and address.
- Input your official 15-digit Tax Registration Number (TRN) to enable compliant tax calculations on all printed invoices and digital storefronts.
- Select your primary workspace currency and set default tax rates (e.g., Standard 15% VAT or 0% Zero-Rated).
- Click Save Settings.
System Configuration Parameters & Policy Matrix
| Configuration Setting | Recommended Value | Operational Scope | System Impact |
|---|---|---|---|
| Primary Currency Code | ISO 4217 (e.g. SAR, USD, EUR) | System-Wide | Defines accounting ledger base currency and financial reporting. |
| Default Tax Rate (VAT/GST) | Standard Jurisdiction % (e.g. 15%) | POS & Invoicing | Automatically applies tax calculations across sales and bills. |
| Decimal Precision | 2 or 3 Decimal Places | Valuation & POS | Ensures sub-cent mathematical precision in currency & inventory units. |
| Fiscal Year Start Date | January 1st or Custom | General Ledger | Dictates retained earnings closing cycles and trial balance ranges. |
Note: Proper tax profile setup ensures automatic segregation of taxable supplies and tax collected on behalf of tax authorities.