Billing
Revenue Recognition
In Denmark ("Årsregnskabsloven") you are legally required to recognize revenue when it is delivered (or whenever the risk is transferred to the customer), no matter if you are using Årsregnskabsloven or IFRS. In fact, it may be an advantage to ue IFRS 15 even if you present your report according to Årsregnskabsloven, as IFR 15 is compatible with Årsregnskabsloven and more thorough.
We allow you to choose various revenue recognition algorithms to match your business case. We support an even recognition as well as a partial upfront/rest distributed recognition.
While this sounds simple, we handle every case including up/downgrades, credits and much more.
Not only do we calculate everything for you, we also do the accounting for you.
To save time with the yearly financial report, Fenerum gives you a detailed documentation of the deferred revenue moved to the upcoming financial year.
Advanced Reconciliation Engine
We monitor your bank account for incoming payments and match them to open invoices. For some payment gateways, we are also able to automatically book incoming transfers from your payment gateway.
For our advanced bank integrations, we support multiple invoices in one payment. In most cases we can even match incoming payments with no invoice numbers to the right invoice.
Automatic apply credit
When your customer have a balance in their favour, we automatically attach the account statement when issuing an invoice and clearly add the balance on the invoice.
This results in much less work for your accounts receivables department, because of less double payments and less conversations with customers about credit notes.