Taxes & Currency

Tax rates, payment terms and currency settings apply across every sales and purchase document in YSUITE.

Requires the MoneyPro module.

Tax rates and groups

1. Go to Settings → Accounting → Taxes.
2. Create individual tax rates (e.g. a single VAT or GST rate).
3. Combine rates into a tax group where a line item needs more than one tax applied at once.

Tax rates and groups appear as options wherever a document line needs tax, and drive the tax reports (consolidated and separated variants) in the reports library.

Payment terms

Define standard payment terms — e.g. Net 30, Due on Receipt — under Settings → Accounting → Payment Terms. Assign a default term per customer or vendor, or override it on an individual document. Terms can be toggled active/inactive without affecting documents already raised under them.

Multi-currency

If your business transacts in more than one currency:

1. Enable multi-currency for your organisation under Settings → Accounting → Currency.
2. Add the currencies you need, alongside your base currency.
3. Set a currency per customer or vendor — documents for that contact default to it automatically.
4. Exchange rates are applied automatically, rounded to six decimal places.

Reports and the accounting engine convert everything back to your base currency, so multi-currency trading still reconciles into a single set of books.

Tips

• Set a currency on the contact record rather than choosing it per document — it keeps every document for that customer or vendor consistent by default.
• Review your tax groups whenever tax legislation changes — updating the group's component rates propagates to every document that uses it going forward.