xBoox

Set up the Business Profile

Configure the Workspace's business type, bookkeeping setup, sales tax, industry, and additional bookkeeping features.

Use the Business Profile to control the Workspace's bookkeeping model, reporting period, sales-tax defaults, industry accounts, and specialized activity groups.

Before you begin

  • You must be the Workspace Owner.
  • Complete this setup before recording transactions whenever possible. Business Type becomes locked after the Workspace has bookkeeping activity.

Set up a newly paid Workspace

After verified payment creates a Workspace, xBoox first confirms its name, then opens a six-step Business Profile Wizard before showing bookkeeping tools. The Wizard saves progress after each step. You can close the browser, choose another Workspace, and return later without paying again.

  1. Workspace name: keep the sequential temporary name, such as **Untitled

Workspace 1**, or replace it. The name is limited to 120 characters and does not change the legal business name.

  1. Business type: choose Self-Employed or Corporation. A Corporation also

selects its fiscal year end.

  1. Tracking method: Self-Employed Workspaces choose Simple Tracking or

Bank Account-Based Tracking. A Corporation uses Bank Account-Based Tracking automatically and continues to tax registration.

  1. Tax registration: choose whether the business is already registered for

GST/HST. If registered, choose the primary Province or Territory. xBoox does not register the business with a tax authority.

  1. Industry: choose the Industry profile that supplies applicable account

and category groups.

  1. Business activities: choose optional Home Office, Vehicle Expenses, or

Residential Long-term Rental activity groups.

  1. Review: confirm the profile and the account/category groups, then select

Finish Workspace Setup.

A Self-Employed Workspace explicitly chooses:

  • Simple Tracking when income and expenses are entered manually or personal

and business payment methods are regularly mixed; or

  • Bank Account-Based Tracking when dedicated business bank or credit-card

accounts are used and statement matching and reconciliation are needed.

A Corporation Workspace uses Bank Account-Based Tracking.

The first Wizard does not collect a GST/HST registration number or effective date. Enabling tax tracking affects new bookkeeping defaults and managed tax accounts; it does not recalculate earlier transactions.

The Review step uses the same account matrix as final setup. If final application fails, the Workspace remains in setup and the Owner can correct or retry it without purchasing another Workspace.

Update an active Workspace

  1. Open Settings > Business Profile.
  2. Choose Self-Employed or Corporation under Business Type.
  3. Choose the available Bookkeeping Setup. Corporation Workspaces use Bank Account-Based Tracking.
  4. Configure GST/HST tracking and, when enabled, choose the Primary Province or Territory.
  5. Choose the Industry that supplies the relevant managed accounts, or choose Custom to begin without built-in Basic or industry Category templates.
  6. Enable the Additional Bookkeeping Features that apply to this Workspace.
  7. Review Setup Impact, then save the profile.

What happens next

xBoox updates the available managed Categories and feature navigation. A province change can reset the tax codes available for new bookkeeping; it does not change historical transaction tax amounts.

Saving the profile also checks the managed account groups required by the saved setup. Bank Account-Based Tracking restores missing banking accounts, Corporation restores missing corporation accounts, and registered GST/HST tracking restores its managed control accounts. xBoox does not overwrite a custom account that already uses a required account number or system identity; the Owner must resolve that conflict before the profile can save.

For a Self-Employed Workspace using Bank Account-Based Tracking, xBoox also creates and manages 3300 Owner's Equity. This is a Balance Sheet account for prior-period accumulated profit; it is not available as an ordinary transaction Category. It is not created for Simple Tracking or Corporation Workspaces.

If the profile later no longer meets those conditions, xBoox makes this managed account inactive instead of deleting it. Returning to Self-Employed Bank Account-Based Tracking reuses the same managed account. If a custom account already uses number 3300, xBoox blocks the profile update and asks the Owner to change that custom account number first; it never overwrites user-created data.

If a confirmation or blocking dialog appears, read the listed reason and next step before closing it. Every Business Profile dialog includes a Help Center button that opens the relevant recovery instructions without closing the dialog.

Important rules

  • Business Type cannot be changed after bookkeeping activity exists. Create a new Workspace for a different bookkeeping entity.
  • Tracking Method cannot be changed after active financial activity or an

accounting artifact exists. The blocking dialog explains Simple Tracking and Bank Account-Based Tracking and links to the Help Center. Keep the existing Workspace for history and create another Workspace for the other method.

  • Simple Tracking does not expose formal Balance Sheet, Trial Balance, General

Ledger, Banking, Reconcile, Journal Entry, Year End, Home Office, Vehicle, or Rental Property workflows. Simplified specialist workflows are planned separately.

  • An Industry cannot be changed after its industry-specific accounts have bookkeeping activity. xBoox directs you to create a separate Workspace.
  • Custom does not add built-in Categories. Accounts required by the selected Bookkeeping Setup, Business Type, or Sales Tax settings remain managed by xBoox, and reserved account-number ranges still cannot be used for custom accounts.
  • Disabling an Additional Bookkeeping Feature hides its managed Categories from normal selection and blocks new postings to that group. Existing records are retained. Home Office and Vehicle remain in navigation and link back here when disabled.
  • Vehicle is still a partial feature and should not be treated as equivalent to the completed Home Office workflow yet.

Vehicle expense groups (dev)

When Vehicle is enabled, choose one, two, or three expense groups. You can add another group later. xBoox creates the group's expense accounts and a separate Lease Expense account. Reducing the count hides later groups for new posting; it does not delete their transactions or working papers. Re-enabling reuses the existing accounts and preserves custom names and manually inactive accounts.

These are reusable expense groups, not a register of physical vehicles. Replacement or mixed use within one group needs notes and manual review.