diff --git a/frappe/core/docHandler.ts b/frappe/core/docHandler.ts
index 8896a929..bdf40063 100644
--- a/frappe/core/docHandler.ts
+++ b/frappe/core/docHandler.ts
@@ -1,5 +1,5 @@
 import Doc from 'frappe/model/doc';
-import { DocMap, ModelMap } from 'frappe/model/types';
+import { DocMap, ModelMap, SinglesMap } from 'frappe/model/types';
 import { coreModels } from 'frappe/models';
 import { getRandomString } from 'frappe/utils';
 import Observable from 'frappe/utils/observable';
@@ -8,7 +8,7 @@ import { DocValue, DocValueMap } from './types';
 
 export class DocHandler {
   frappe: Frappe;
-  singles: DocMap = {};
+  singles: SinglesMap = {};
   docs: Observable<DocMap> = new Observable();
   models: ModelMap = {};
 
diff --git a/frappe/index.ts b/frappe/index.ts
index a0ce0030..398ed0a4 100644
--- a/frappe/index.ts
+++ b/frappe/index.ts
@@ -15,7 +15,6 @@ import { format } from './utils/format';
 import { t, T } from './utils/translation';
 import { ErrorLog } from './utils/types';
 
-
 export class Frappe {
   t = t;
   T = T;
@@ -36,6 +35,9 @@ export class Frappe {
   methods?: Record<string, Function>;
   temp?: Record<string, unknown>;
 
+  currencyFormatter?: Intl.NumberFormat;
+  currencySymbols: Record<string, string | undefined> = {};
+
   constructor(DatabaseDemux?: DatabaseDemuxConstructor) {
     /**
      * `DatabaseManager` can be passed as the `DatabaseDemux` for
@@ -84,6 +86,7 @@ export class Frappe {
     await this.#initializeMoneyMaker();
 
     this.doc.registerModels(models, regionalModels);
+    await this.doc.getSingle('SystemSettings');
     this._initialized = true;
   }
 
diff --git a/frappe/model/doc.ts b/frappe/model/doc.ts
index 37b4f116..dd09ae8c 100644
--- a/frappe/model/doc.ts
+++ b/frappe/model/doc.ts
@@ -28,6 +28,7 @@ import {
 import { setName } from './naming';
 import {
   Action,
+  CurrenciesMap,
   DefaultMap,
   DependsOnMap,
   EmptyMessageMap,
@@ -705,6 +706,7 @@ export default class Doc extends Observable<DocValue | Doc[]> {
   required: RequiredMap = {};
   hidden: HiddenMap = {};
   dependsOn: DependsOnMap = {};
+  getCurrencies: CurrenciesMap = {};
 
   static lists: ListsMap = {};
   static filters: FiltersMap = {};
diff --git a/frappe/model/types.ts b/frappe/model/types.ts
index 9b0a8c78..215bf0d3 100644
--- a/frappe/model/types.ts
+++ b/frappe/model/types.ts
@@ -1,4 +1,5 @@
 import { DocValue, DocValueMap } from 'frappe/core/types';
+import SystemSettings from 'frappe/models/SystemSettings';
 import { FieldType } from 'schemas/types';
 import { QueryFilter } from 'utils/db/types';
 import { Router } from 'vue-router';
@@ -22,11 +23,13 @@ export type Default = () => DocValue;
 export type Validation = (value: DocValue) => Promise<void>;
 export type Required = () => boolean;
 export type Hidden = () => boolean;
+export type GetCurrency = () => string;
 
 export type FormulaMap = Record<string, Formula | undefined>;
 export type DefaultMap = Record<string, Default | undefined>;
 export type ValidationMap = Record<string, Validation | undefined>;
 export type RequiredMap = Record<string, Required | undefined>;
+export type CurrenciesMap = Record<string, GetCurrency>;
 export type HiddenMap = Record<string, Hidden>;
 export type DependsOnMap = Record<string, string[]>;
 
@@ -37,6 +40,11 @@ export type DependsOnMap = Record<string, string[]>;
 export type ModelMap = Record<string, typeof Doc | undefined>;
 export type DocMap = Record<string, Doc | undefined>;
 
+export interface SinglesMap {
+  SystemSettings?: SystemSettings
+  [key: string]: Doc | undefined
+}
+
 // Static Config properties
 
 export type FilterFunction = (doc: Doc) => QueryFilter;
diff --git a/frappe/utils/consts.ts b/frappe/utils/consts.ts
index 5c9a1aac..c9ccba20 100644
--- a/frappe/utils/consts.ts
+++ b/frappe/utils/consts.ts
@@ -1,8 +1,9 @@
 export const DEFAULT_INTERNAL_PRECISION = 11;
 export const DEFAULT_DISPLAY_PRECISION = 2;
+export const DEFAULT_DATE_FORMAT = 'yyyy-MM-dd';
 export const DEFAULT_LOCALE = 'en-IN';
 export const DEFAULT_COUNTRY_CODE = 'in';
-export const DEFAULT_CURRENCY = 'XXX';
+export const DEFAULT_CURRENCY = 'INR';
 export const DEFAULT_LANGUAGE = 'English';
 export const DEFAULT_NUMBER_SERIES = {
   SalesInvoice: 'SINV-',
diff --git a/frappe/utils/format.js b/frappe/utils/format.js
deleted file mode 100644
index 53c63ebf..00000000
--- a/frappe/utils/format.js
+++ /dev/null
@@ -1,113 +0,0 @@
-import frappe from 'frappe';
-import { DateTime } from 'luxon';
-import { DEFAULT_DISPLAY_PRECISION, DEFAULT_LOCALE } from './consts';
-
-export function format(value, df, doc) {
-  if (!df) {
-    return value;
-  }
-
-  if (typeof df === 'string') {
-    df = { fieldtype: df };
-  }
-
-  if (df.fieldtype === 'Currency') {
-    const currency = getCurrency(df, doc);
-    value = formatCurrency(value, currency);
-  } else if (df.fieldtype === 'Date') {
-    let dateFormat;
-    if (!frappe.SystemSettings) {
-      dateFormat = 'yyyy-MM-dd';
-    } else {
-      dateFormat = frappe.SystemSettings.dateFormat;
-    }
-
-    if (typeof value === 'string') {
-      // ISO String
-      value = DateTime.fromISO(value);
-    } else if (Object.prototype.toString.call(value) === '[object Date]') {
-      // JS Date
-      value = DateTime.fromJSDate(value);
-    }
-
-    value = value.toFormat(dateFormat);
-    if (value === 'Invalid DateTime') {
-      value = '';
-    }
-  } else if (df.fieldtype === 'Check') {
-    typeof parseInt(value) === 'number'
-      ? (value = parseInt(value))
-      : (value = Boolean(value));
-  } else {
-    if (value === null || value === undefined) {
-      value = '';
-    } else {
-      value = value + '';
-    }
-  }
-  return value;
-}
-
-function formatCurrency(value, currency) {
-  let valueString;
-  try {
-    valueString = formatNumber(value);
-  } catch (err) {
-    err.message += ` value: '${value}', type: ${typeof value}`;
-    throw err;
-  }
-
-  const currencySymbol = frappe.currencySymbols[currency];
-  if (currencySymbol) {
-    return currencySymbol + ' ' + valueString;
-  }
-
-  return valueString;
-}
-
-function formatNumber(value) {
-  const numberFormatter = getNumberFormatter();
-  if (typeof value === 'number') {
-    return numberFormatter.format(value);
-  }
-
-  if (value.round) {
-    return numberFormatter.format(value.round());
-  }
-
-  const formattedNumber = numberFormatter.format(value);
-  if (formattedNumber === 'NaN') {
-    throw Error(
-      `invalid value passed to formatNumber: '${value}' of type ${typeof value}`
-    );
-  }
-
-  return formattedNumber;
-}
-
-function getNumberFormatter() {
-  if (frappe.currencyFormatter) {
-    return frappe.currencyFormatter;
-  }
-
-  const locale = frappe.SystemSettings.locale ?? DEFAULT_LOCALE;
-  const display =
-    frappe.SystemSettings.displayPrecision ?? DEFAULT_DISPLAY_PRECISION;
-
-  return (frappe.currencyFormatter = Intl.NumberFormat(locale, {
-    style: 'decimal',
-    minimumFractionDigits: display,
-  }));
-}
-
-function getCurrency(df, doc) {
-  if (!(doc && df.getCurrency)) {
-    return df.currency || frappe.AccountingSettings.currency || '';
-  }
-
-  if (doc.meta && doc.meta.isChild) {
-    return df.getCurrency(doc, doc.parentdoc);
-  }
-
-  return df.getCurrency(doc);
-}
diff --git a/frappe/utils/format.ts b/frappe/utils/format.ts
new file mode 100644
index 00000000..2a324647
--- /dev/null
+++ b/frappe/utils/format.ts
@@ -0,0 +1,150 @@
+import frappe from 'frappe';
+import { DocValue } from 'frappe/core/types';
+import Doc from 'frappe/model/doc';
+import { DateTime } from 'luxon';
+import Money from 'pesa/dist/types/src/money';
+import { Field, FieldType, FieldTypeEnum } from 'schemas/types';
+import { getIsNullOrUndef } from 'utils';
+import {
+  DEFAULT_CURRENCY,
+  DEFAULT_DATE_FORMAT,
+  DEFAULT_DISPLAY_PRECISION,
+  DEFAULT_LOCALE,
+} from './consts';
+
+export function format(
+  value: DocValue,
+  df?: string | Field,
+  doc?: Doc
+): string {
+  if (!df) {
+    return String(value);
+  }
+
+  const field: Field = getField(df);
+
+  if (field.fieldtype === FieldTypeEnum.Currency) {
+    return formatCurrency(value, field, doc);
+  }
+
+  if (field.fieldtype === FieldTypeEnum.Date) {
+    return formatDate(value);
+  }
+
+  if (field.fieldtype === FieldTypeEnum.Check) {
+    return Boolean(value).toString();
+  }
+
+  if (getIsNullOrUndef(value)) {
+    return '';
+  }
+
+  return String(value);
+}
+
+function formatDate(value: DocValue): string {
+  const dateFormat =
+    (frappe.singles.SystemSettings?.dateFormat as string) ??
+    DEFAULT_DATE_FORMAT;
+
+  let dateValue: DateTime;
+  if (typeof value === 'string') {
+    dateValue = DateTime.fromISO(value);
+  } else if (value instanceof Date) {
+    dateValue = DateTime.fromJSDate(value);
+  } else {
+    dateValue = DateTime.fromSeconds(value as number);
+  }
+
+  const formattedDate = dateValue.toFormat(dateFormat);
+  if (value === 'Invalid DateTime') {
+    return '';
+  }
+
+  return formattedDate;
+}
+
+function formatCurrency(value: DocValue, field: Field, doc?: Doc): string {
+  const currency = getCurrency(field, doc);
+
+  let valueString;
+  try {
+    valueString = formatNumber(value);
+  } catch (err) {
+    (err as Error).message += ` value: '${value}', type: ${typeof value}`;
+    throw err;
+  }
+
+  const currencySymbol = frappe.currencySymbols[currency];
+  if (currencySymbol !== undefined) {
+    return currencySymbol + ' ' + valueString;
+  }
+
+  return valueString;
+}
+
+function formatNumber(value: DocValue): string {
+  const numberFormatter = getNumberFormatter();
+  if (typeof value === 'number') {
+    return numberFormatter.format(value);
+  }
+
+  if ((value as Money).round) {
+    const floatValue = parseFloat((value as Money).round());
+    return numberFormatter.format(floatValue);
+  }
+
+  const floatValue = parseFloat(value as string);
+  const formattedNumber = numberFormatter.format(floatValue);
+
+  if (formattedNumber === 'NaN') {
+    throw Error(
+      `invalid value passed to formatNumber: '${value}' of type ${typeof value}`
+    );
+  }
+
+  return formattedNumber;
+}
+
+function getNumberFormatter() {
+  if (frappe.currencyFormatter) {
+    return frappe.currencyFormatter;
+  }
+
+  const locale =
+    (frappe.singles.SystemSettings?.locale as string) ?? DEFAULT_LOCALE;
+  const display =
+    (frappe.singles.SystemSettings?.displayPrecision as number) ??
+    DEFAULT_DISPLAY_PRECISION;
+
+  return (frappe.currencyFormatter = Intl.NumberFormat(locale, {
+    style: 'decimal',
+    minimumFractionDigits: display,
+  }));
+}
+
+function getCurrency(field: Field, doc?: Doc): string {
+  if (doc && doc.getCurrencies[field.fieldname]) {
+    return doc.getCurrencies[field.fieldname]();
+  }
+
+  if (doc && doc.parentdoc?.getCurrencies[field.fieldname]) {
+    return doc.parentdoc.getCurrencies[field.fieldname]();
+  }
+
+  return (
+    (frappe.singles.SystemSettings?.currency as string) ?? DEFAULT_CURRENCY
+  );
+}
+
+function getField(df: string | Field): Field {
+  if (typeof df === 'string') {
+    return {
+      label: '',
+      fieldname: '',
+      fieldtype: df as FieldType,
+    };
+  }
+
+  return df;
+}