When you are creating a new business in hibooks, all countries in the world are available for you to choose as the country of your business. This also allows you to choose any currency available in the world as your base currency. Learn how multicurrency works in hibooks and how to manage multicurrency in banking.
How do I use Multicountry when creating a new business ?
While you set up and create your new business in hibooks, you can select the country of the business as the system is set up for all countries to be available.
And when you are completing the information of the business, you can choose the home currency which will be the base currency for your business and the one that will be selected by default when you are creating new documents in the system.
If you haven't created any accounting data in the business yet, it's possible to change the base currency by clicking on System Settings and then on Company Overview from the sidebar menu of Settings. You can then change the home currency and then click on Save.
However if you have already entered accounting data in your business, then it is not possible to change the base currency in the system.
What is the difference between VAT and the Good Sales Tax ?
If you select the United Kingdom as the country of your business, you can tick the tickbox "Registered for VAT" and enter the VAT Registration Number of the business.
However if your business is outside of the United Kingdom, then you can register for Good Sales tax by ticking the "Registered for GST" and then you can enter the GST Registration Number of the business.
