Setting up your accounting defaults

Currency, tax, deposits and targets. Set these once and every new document inherits them.

Settings → Accounting holds the defaults every new offer and invoice starts from. Setting them up front saves you correcting the same fields on every document.

These are defaults for new documents. Changing them later never rewrites an offer or invoice you already created.

Financial defaults

Default Currency is preselected on new invoices, offers, and projects, and it’s the currency your dashboard totals are converted into. Billow supports over 100 of them.

Default VAT Percentage (%) pre-fills the tax rate on new documents. Leave the field empty if you don’t charge tax.

Default Deposit Percentage decides how much of a project you bill up front, and it’s what drives Billow’s automatic invoice drafting. Pick from 0%, 25%, 33%, 50%, or 100%. New workspaces start at 50%. See Deposits and automatic invoices for what each choice produces.

Hide taxes in offers and pitches shows offers with only a subtotal, no tax line. Invoices always include tax regardless.

If your tax setup isn’t a single rate

Tick Advanced tax mode and you get an editable tax label plus an optional second tax line, for places like Quebec that charge two taxes on the same document. Both can be overridden on any individual invoice or offer.

Tax registration numbers aren’t here. They live on Settings → General, with your address.

Taxes on your documents covers all of it.

Business targets

Yearly Revenue Target and Monthly Costs are optional and feed your dashboard. The target powers the “yearly revenue target” card; the costs power the “break-even” line and “costs covered” stats.

Skip both if you don’t want them. Nothing else depends on them.