Default Formats
Default Formats decide how money, dates, and numbers look everywhere in Bizconnekt. You set them once, and every screen, document, and report follows the same rules — so a date on a quotation reads the same as a date on a bill, and an amount is shown to the same number of decimal places throughout.
Availability depends on your plan and your role.
What are Default Formats?
They are your business's display preferences for financial data:
- Base currency — the main currency your books are kept in.
- Date format — the order in which day, month, and year appear.
- Decimal places — how many digits appear after the decimal point on rates and prices.
- Rounding — whether totals are rounded to the nearest whole unit.
- Additional currencies — turned on when you buy or sell in more than one currency.
- Financial year start — the month your accounting year begins.
Think of it as setting the house style for numbers. Nothing here changes what a document means — only how it is shown and entered.
Who sets this up?
An administrator sets Default Formats during first-time setup, before your team starts creating documents. Most values only need to be chosen once. Your base currency, in particular, is best decided at the very start.
How to open Default Formats
- Open Bizconnekt Admin from the main menu.
- Go to Settings.
- Select Accounting.
- Choose Default Formats.
How do I set each format?
Base currency
Your base currency is the one all reports are totalled in. It is usually chosen when your business is first created.
- Open Default Formats.
- Check the currency shown — it appears with its symbol (for example, ₹ or $).
Choose carefully at the start: once you have created documents, the base currency is fixed, because changing it would change the meaning of every amount already recorded.
Date format
This controls how every date appears — on documents, on reports, and in the fields your team types into.
- Open the Date format option.
- Pick the order you prefer.
- The change applies straight away, everywhere.
| Format | Example | Common in |
|---|---|---|
| Day / Month / Year | 21/09/2026 | India, UK, Europe, Australia |
| Month / Day / Year | 09/21/2026 | United States |
| Year / Month / Day | 2026/09/21 | East Asia, technical systems |
Decimal places
This controls how many digits show after the decimal point on rates and prices — for example, ₹1,234.5 versus ₹1,234.56.
- Open the Decimal places option.
- Choose a level from one to four.
- The setting applies to documents created from then on.
| Setting | Looks like | Best for |
|---|---|---|
| 1 place | ₹1,234.5 | Simple, rounded pricing |
| 2 places | ₹1,234.56 | Most businesses (recommended) |
| 3 places | ₹1,234.567 | Wholesale, bulk goods, foreign exchange |
| 4 places | ₹1,234.5678 | Precious metals, gems, high-precision trades |
Two decimals suits most businesses. More decimals means finer precision but a busier-looking screen. Money totals always settle to the standard number of places for the currency, so this setting is mainly about the precision of rates and unit prices.
Rounding
Turn rounding on if you would like document totals nudged to the nearest whole unit, with the small difference recorded for you. Leave it off to show exact totals.
Additional currencies
If you buy or sell in a currency other than your base currency, turn that currency on here. Once enabled, it becomes available to pick when you set up a customer or supplier, and Bizconnekt converts those amounts back to your base currency for your reports.
How prices and the conversion rate work on those documents is explained in Documents in another currency below.
Financial year start
Set the month your accounting year begins. This drives every "this financial year" and "last financial year" view in your reports. It varies by country, so set it to match your region rather than assuming a fixed month.
Documents in another currency
When a quotation, sales order, invoice, purchase order, bill or any other priced document is in a currency other than your base currency, Bizconnekt fills in item prices for you in that currency. To do that it needs the document's conversion rate (the Conversion Rate field beside the currency), so the rate is a required field on every foreign-currency document.
Where the prices come from
Item prices come from your price lists, converted at the document's conversion rate. The rate is entered as "1 unit of the document's currency = how many units of your base currency".
| Your base currency | Item price in your price list | Document currency | Exchange rate | Price shown on the document |
|---|---|---|---|---|
| ₹ (INR) | ₹8,375 | $ (USD) | 1 USD = 83.75 INR | $100 |
If you have set up a price rule in the document's own currency — for example a USD price for an overseas customer — that price is used as it is, with no conversion, when it is the price that applies (a price for a specific customer or item still comes first). The conversion rate is still required on the document. Price rules work the same way on the web app and the mobile app.
The conversion rate is required
- Type the rate in the Conversion Rate field and click the save icon next to it. Until you do, item prices stay empty and a message above the item table asks you to enter the rate.
- A foreign-currency document cannot be saved without its conversion rate. Enter the rate, click the save icon, and save again.
- A document in your base currency never needs a rate.
- On the mobile app, the invoice, sales order and purchase order forms have no rate field; enter the rate on the web app for those.
Changing the currency or the rate
When you change the document's currency or its conversion rate, Bizconnekt re-prices every line you have not edited. Any price you typed in yourself is kept exactly as you entered it.
Documents saved earlier without a rate
A foreign-currency document that was saved before the exchange rate became required, and has no rate, is left as it is. The next time you edit it, it asks for the conversion rate before it can be saved. A recurring template in a foreign currency with no rate cannot create its documents until you enter the conversion rate on the template; its run history tells you so.
What does this change downstream?
Once saved, Default Formats flow into everything you create:
- Every invoice shows dates and amounts in your chosen formats.
- Every manual journal and report reads the same way.
- New customers and suppliers can be assigned any currency you have enabled.
- Financial-year reports open on the correct period for your business.
Set these before your team begins entering data, so your records are consistent from day one.
Related guides
Need help? Contact support at support@bizconnekt.com