---
title: "Accounting Settings"
description: "Descriptions for fields for in accounting settings"
url: https://www.fenerum.com/en-DK/docs/organization/settings/accounting/
updated_at: "2023-03-15T13:38:00"
---
## ERP line booking settings

This section can also contain some settings that are not described below.
If you see some more settings in this section please refer to the accounting section specific for
your [ERP system](https://www.fenerum.com/en-DK/docs/organization/settings/integrations/erp.md)

### Disable settlement transactions sync

Fenerum tracks balance on the invoice level. Enabling this option will stop generation and sync of ERP lines for
settlement transactions.
Check this option if you don't need those entries in your ERP system.

### ERP line text

#### ERP lines language

This option determines the language for the ERP lines Fenerum is sending to your ERP system. The default is English.

#### Customer Payments

Bank Transfer/Credit Card/Settlement Payment/Refund - Invoice/Credit Note {invoice} - Transaction {transaction\_uuid}

#### Customer Invoices

Invoice/Credit Note {invoice\_number}

#### Supplier Invoices

Supplier Invoice: {supplier\_name} {invoice\_number}

#### Supplier Payments

Supplier Payment: {supplier\_name} {invoice\_number}

#### Deferred Revenue

##### When using a single revenue group:

Deferred Revenue: Invoice/Credit Note {invoice\_number}

Revenue Recognition: Invoice/Credit Note {invoice} ({current}/{total})

##### When using multiple revenue groups:

Revenue Recognition ({revenue\_group}): Invoice/Credit Note {invoice} ({current}/{total})
Deferred Revenue ({revenue\_group}): Invoice/Credit Note {invoice}

#### Revenue Split

Split {revenue\_group}: Invoice/Credit Note

## Accounting month closing day

In accounting settings under 'Accounting Periods' you can define a day of month from which previous accounting month is
considered closed.

When set all ERP lines that would be booked in closed months will be booked at the first day of current month. Clearing
it turns off this behaviour (all months will be considered open). Number should be between 1 and 31. If current month
has fewer days then chosen day it will be treated as last day of month.

**OBS: if you don't see this setting in your organization and want to use it, please contact Fenerum support.**

## Underpayments

You can manually or automatically settle underpaid invoices in Fenerum. This is done using the two
accounting-settings "Underpayment loss account" and "Underpayment tolerance". Both of these are described below.

Both of the settings must be configured for the automatic and manual underpayment settlement to work.

### Underpayment loss account

This is the financial account that is to be used for booking the remaining balance of the underpaid invoice.

### Underpayment tolerance

The invoice's balance must be **less than** the defined tolerance before it can be settled as an underpaid invoice. By
default, this setting is set to "0,00", which means that **no** underpayments can be settled.

Note that the tolerance is defined in the organization's accounting currency.

### Automatic settlement

If you have configured the two settings mentioned above, then Fenerum will automatically attempt to settle underpaid
invoices whenever an invoice is **matched automatically with a bank account line**.

This means that whenever a bank payment is matched automatically with an invoice, Fenerum will check if the remaining
balance is below the tolerance, and if so, the remaining balance will be booked to the "Underpayment loss account". The
invoice will then be marked as paid.

### Manual settlement

You can also manually settle an underpaid invoice. This is only possible for invoices that have a balance less than the
defined tolerance. You can do this by clicking the "_Settle remaining balance_"-button on the invoice-page in the
"Action"-dropdown menu.

This button is only shown if the invoice has a balane less than the defined tolerance, and you have the
"Billing full access"-permission.

## Business Entities

**Note: Optional feature**

Business Entities is an optional feature and is not active by default. Please contact us at [support@fenerum.com](mailto:support@fenerum.com) if you would like to use this feature.

In accounting settings under 'Business Entities' you can define the business entities that are used in your organization.

Business Entities enables you to invoice from multiple company names and VAT registration numbers from different countries and display this on all invoice sent to customers within this country.

### Create a new business entity

To create a new business entity, go to settings and click on 'Business Entities' under accounting and then click on the 'New Entity' button.

Fill the relevant fields and click on the 'Save' button. Now every invoice sent to a customer in this country will be displayed this legal information instead of the default legal information for the organization.

**OBS: You can only create one business entity per country and you must have a default business entity.**

---

## Navigation

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