Use this tab to define basic initialization values for the company.
To access this tab, choose
tab.Select the chart of accounts that is the valid legal form for your company, or define your own by selecting User Defined. Alternatively, import the chart of accounts data from your legacy system. We recommend using one of the existing standard charts of accounts and adapting it to the company’s needs as required. Defining the entire chart of accounts is a long, complex procedure. |
Select the local currency. The currencies defined in SAP Business One are available in the list. To define a new currency, select Define New. |
SAP Business One can manage all transactions in a system currency parallel to the local currency. Select the required system currency from the list. To define a new currency, select Define New. If defining a system currency that is not identical to the local (national) currency, the system currency can be used as the reporting currency. For example, the corporate group requires a different reporting currency from the national currency. Also define a daily exchange rate for the system currency. Every document, and all reports and balance sheets are posted in the database in both currencies. If you do not have a reporting requirement in another currency, set the system currency to your local currency. |
Determines the default account currency for new accounts:
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Select to display credit balances with a negative sign. According to the default settings, debit balances are displayed with a negative sign. This option cannot be changed after postings have been created in SAP Business One. This setting influences the entry of beginning balances for the G/L accounts and business partners. Depending on this setting, the opening balances must be entered as positive or negative numbers. We recommend accepting the default setting, as this reflects the local requirements. |
Select to specify if segments of information should be added to the standard account codes, such as division, region, cost center, and so on, for detailed transaction tracking and reporting. |
Note This field is not available for the Brazil and Israel localizations. End of the note. Selecting this option results in journal entries where the reversal is booked with negative amounts. If you do not select this option, the journal entry of the reversal is booked using a debit/credit switch. This setting can be changed at any time. Example A return or credit memo with a positive document total is booked with negative amounts. A cancellation document of a delivery with a positive document total is booked with negative amounts. However, a cancellation document of a return with a positive document total is also booked with positive amounts. For more information about canceling marketing documents, see Canceling Documents with Cancellation Documents. End of the example. |
Certain country regulations permit document numbering series that contain more than one document type. All of these documents are part of the same numbering series. Select this option if these regulations are relevant for the company. This setting determines the settings that are displayed in certain Document Numbering windows, and cannot be changed after it has been selected. Note This field is not available for users in Brazil. End of the note. |
Enables the Multi-Language Support function in the company. Use this function to translate field names in SAP Business One to foreign languages and print them in documents you send to foreign business partners. |
Select this option to indicate management of perpetual inventory accounting system. If selected, each transaction of inventory items is reflected also in the inventory related G/L accounts. Note After the first inventory transaction is posted, this option is disabled, and its status cannot be changed. End of the note. |
Specify the default valuation method for newly added item groups. This field is active only if the Use Perpetual Inventory option is selected. The available valuation methods are:
Note You can change the selected valuation method at any time; however, the change applies only to item groups added after the change, not retroactively. End of the note. |
This field appears only if you have selected the Use Perpetual Inventory option. Select this option for calculating inventory pricing for each individual warehouse. Deselect this option for calculating inventory pricing for all the warehouses combined. Note Users in China should select this field to group data by warehouse in the inventory audit report. Otherwise, the inventory audit report is grouped only by item, and the checkbox Group by Warehouses First is not visible for all the warehouses selected. End of the note. |
In localizations where purchase accounting is used, selecting this option enables purchase accounting. Once journal entries have been made, this setting cannot be modified. Note This field is not available for users in Brazil. End of the note. |
Permits items to be included in documents such as deliveries or A/R invoices, even when the item cost has not been determined. Select when the inventory valuation is performed according to moving average or FIFO. If you selected Standard Price, a cost has already been defined. |
This field is required for the interface with the Payment Engine add-on. |
Enter the company's default bank account and branch information. |
Select the checkbox to enable the fixed assets function. Note Once you enable the fixed assets function, you cannot disable it. End of the note. |
Note The field is available only if you have selected the Enable Fixed Assets checkbox. End of the note. Specify whether you want the system to calculate the depreciation of fixed assets by month or day. Example Asset X Acquisition and Production Costs: 6000 USD Useful Life: 60 Months Depreciation Method: Straight Line Calculation Method: Acquisition Value / Total Useful Life
With the two different quotas, the system then calculates the asset's depreciation for each period. End of the example. |
Selecting this checkbox masks credit card numbers as ************#### (that is, only the last four digits are displayed) on the user interface. Deselecting this checkbox unmasks credit card numbers on the user interface. You can change the checkbox status at any time. Authorization is required for masking credit card numbers. |
Select this checkbox to manage the inventory G/L account determination according to a flexible and centralized method. By setting a hierarchy of rules you can assign inventory G/L accounts by:
Note In certain localizations there are additional criteria that are country-specific End of the note. For additional information see the How To Setup and Work with Advanced G/L Account Determinationguide in the documentation resource center. |
Select this option at any time to work with the bank statement processing functionality. Caution If you choose Update after activating this option, the checkbox is disabled and cannot be deselected. End of the caution. |
Select to indicate that the company uses bills of exchange (BoE). If not selected, all references to BoE in SAP Business One are hidden. When a BoE transaction is added, Use Bill of Exchange cannot be disabled. This option is relevant for Italy, Portugal, Spain and France and activated by default. |
Select the checkbox to enable the multiple branches function. |
To activate folio numbering for your company, select this checkbox. For the Mexican and the Chilean localization, the folio numbering function is always activated. |
Determines whether gross or net value is used as base amount when cash discount is calculated. Note Users in Mainland China should select this option; users in Hong Kong should not. End of the note. |
Select the checkbox to initialize the Intrastat declaration function. After you have installed Intrastat, this checkbox becomes uneditable. For more information, see Initializing the Intrastat Declaration Function. |
Select to indicate that the company uses hierarchical deduction at source method for tax deduction. Once this option is selected, the Define Deduction Groups button appears. Choose this button to open the Deduction Groups – Setup window, in which you can define the relevant deduction groups for your company. |