School System – Financial Settings
There are only a few settings that affect the financial transactions, however, it’s very important to set them correctly right from the start. In fact, you need to set them even before creating the first sale transaction.
Here is the list the available settings:
| Currency | This is your reporting currency – i.e. whatever the currency used in your country (SGD, AUD, USD, EUR, etc.). All the prices and transactions will default to this currency. For countries that use multiple currencies (e.g. Vietnam) you can still maintain price lists and do transactions in other currencies. |
| Tax (GST) Settings | The GST (also called VAT in some countries), is a fairly complex topic and you should definitely consult your accountant to understand which option is right for you. Click here to see the options and differences between them" |