Accounting

Automate communication between companies of invoices using globally recognized formats such as Factur-X, Peppol or CFDI, based on local compliance requirements. Both sending and receiving are supported.

Enable a seamless generation and submission of VAT returns to the Danish SKAT tax authority directly from the ERP system. By integrating with SKAT, the process becomes streamlined and compliant with Danish tax regulations.

• Automatically calculate VAT based on configured tax rates and transactions recorded in the system.
• Includes support for complex VAT scenarios like intra-EU transactions.
• Generates a pre-filled VAT return form using data from the system's accounting and tax modules.
• Ensures all required fields are populated, including sales, purchases, input VAT, and output VAT.
• Validates the VAT return data against SKAT's requirements to prevent submission errors.
• Highlights discrepancies or missing information before submission.
• Submits VAT returns directly to SKAT via an electronic gateway.
• Ensures all VAT returns comply with the Danish Digital Bookkeeping Act and other relevant regulations.
• Maintains a detailed log of VAT returns, submissions, and acknowledgments for compliance audits.
• Offers interfaces in Danish and English to accommodate diverse users.

The rules on EU sales without VAT are described in Council Directive 2006/112/EC on the common system of value

added tax and restated in Danish legislation by way of VAT Order no. 808 of 30 June 2015.

The general rule is that trading between enterprises registered for VAT in the EU must take

place exclusive of VAT, and the information on EU sales without VAT must be reported by the

enterprises and exchanged between the member countries, which serves two principal purposes:

The enterprises have the opportunity to get customers VAT numbers confirmed, and the member countries

have the opportunity to check that the VAT is paid in the country of consumption.

The AvaTax integration automates tax calculations and compliance processes. It automatically calculates the applicable taxes on transactions based on precise location and jurisdiction rules.

- Helps manage tax exemption certificates for eligible customers and ensures they are applied correctly to transactions

- Simplifies filing tax returns by preparing and submitting the necessary documents.

- Offers tools for remitting taxes to the appropriate jurisdictions.

El modelo 111 de la Agencia Estatal de Administración Tributaria (AEAT) en España es una declaración trimestral que deben presentar empresas y autónomos para liquidar las retenciones practicadas a trabajadores, profesionales o empresarios durante ese periodo.

Este modelo sirve para informar y pagar las cantidades retenidas en las facturas emitidas por profesionales autónomos y en las nóminas de los trabajadores.

El modelo 115 de la Agencia Estatal de Administración Tributaria (AEAT) en España es una declaración trimestral que deben presentar las empresas y autónomos para liquidar las retenciones practicadas en los alquileres de inmuebles urbanos que utilizan para desarrollar su actividad económica.

El modelo 303 de Hacienda debe ser presentado por las empresas y autónomos sujetos al Impuesto sobre el Valor Añadido (IVA). Su objetivo es realizar la declaración y autoliquidación del IVA, permitiendo a la Agencia Tributaria conocer las operaciones sujetas a este impuesto durante un periodo determinado (mensual o trimestral, dependiendo del régimen del declarante).

Easily manage accounts across currencies and units for global businesses with automatic currency conversion and consolidated financial views.

Meet the requirements of the Digital Bookkeeping Act without additional verification or burden on your part.

User access management and automatic backups safeguard financial data against unauthorized access and loss.

e-invoicing and standardized accounting streamline operations, leading to significant time and cost savings.

Report data to authorities during audits or inspections with a reduced administrative burden.

Secure storage of financial records and related documents for the mandatory five-year period.

Access real-time insights with customized financial reports, including income statements and balance sheets.

One of the steps during the preparation of the annual report using Regnskab Basis is that the company has to provide the balances for the year being reported. The company can provide this information using either a SAF-T file, or a CSV file that must provide the balances in a specific format defined by the Danish Business Authority. ForgeFlow Cloud ERP allows companies to export both the compatible CSV file and the SAF-T file to ease the preparation of the annual report.

Create and fill in company information automatically based on company name or CVR from Virk's official database.

Generates Intrastat declaration for shipments and arrivals. We provide generation and export of Intrastat reports in the right format to submit them in IDEP.

Use the country-specific standard account plan or use your own.

The FIK number contains information about an invoice and the bank.

When you create customer invoices, a FIK number is generated. The customer should include this code when making a bank transfer and this will help you facilitate the automatic reconciliation of the payment with the invoice when the bank statements are imported.

At the same time, when receiving invoices from creditors, The FIK number is included in the bill and will be used during the automated bank reconciliation.

Reconcile transactions automatically by syncing with your bank accounts to maintain up-to-date records.

Support for multiple payment methods, providers and gateways to streamline transactions and payment reconciliation.

Group several cheques before depositing them in a single batch to the bank. The total amount deposited will then appear as a single transaction on your bank statement.

In the manufacturing industry, people often receive the vendor bills before receiving their purchase, but they don't want to pay the bill until the goods have been delivered. A "release to pay" mechanism allows you to mark, for each vendor bill, whether it can be paid or not. As soon as all the quantities have been delivered, the bill can be paid. If there's a quantity between the received and the billed quantities, the bill cannot be paid, unless the accounting department explicitly releases the bill to pay.

Upload your scanned PDF or image format files and let Odoo encode them automatically, thanks to the AI-powered digitizing feature.

A single source of truth for all asset-related data, including location, condition and ownership.

Real-time tracking and status updates, reducing the risk of misplaced or lost assets.

Track assets from acquisition to disposal to optimize their useful life.

ForgeFlow Cloud categorizes accounts into five types:

• Assets: Company resources (cash, inventory, fixed assets).
• Liabilities: Financial obligations (loans, accounts payable).
• Equity: Net worth (investments, retained earnings).
• Income: Revenue from sales or services.
• Expenses: Operational costs (salaries, depreciation, cost of sales).

The Chart of Accounts can be created in three ways:

• From scratch: Custom-built to fit the organization’s structure.
• Importing: Transferred from a previous system for continuity.
• Localization packages: Predefined to meet national regulations.

To align your accounts with standard codes, use account tags. These tags help in generating reports and legal documents. You can update the “Tags” field in each account and either select an existing tag or create a new one.

By structuring and maintaining your Chart of Accounts properly, you ensure accurate financial reporting and compliance with regulations.

Define the contract value and expected revenues at the moment a sales order is confirmed. Planned revenues can be adjusted if the project scope changes, ensuring that contractual modifications are reflected in financial forecasts. On the cost side, build a complete plan of expected project resources — materials, labor, subcontractors, and overheads — with scheduled dates and budgeted amounts. This initial definition sets the baseline for measuring progress.

Record actual costs directly against the project as soon as they occur. Supplier invoices, employee timesheets, subcontractor expenses, and material consumption are automatically allocated to the project. Costs feed into the analytical ledger in real time, ensuring that the system always reflects the most up-to-date financial status of the project.

Generate WIP reports that calculate the project’s progress by comparing incurred costs against the total estimated costs (cost-to-cost method). The statement determines how much revenue should be recognized in the period, compares it against what has already been recognized, and highlights the accumulated profit or loss. This gives finance teams and project managers full visibility into both accounting compliance and project performance.

Avoid distortions in financial statements by separating client billing from revenue recognition. When invoices exceed recognized revenue, the system records the difference as a liability (excess billing / deferred income). When recognized revenue exceeds invoicing, it records an asset (work performed not yet billed). These automatic postings ensure compliance and keep balance sheets accurate throughout the project.

At every closing period, the ERP recalculates project progress and adjusts recognized revenue accordingly. This progressive recognition aligns revenues with the actual advancement of the project, preventing artificial profit spikes and ensuring that financial results reflect reality. Profitability can be analyzed period by period, supporting better decision-making.

Once the project reaches completion, the system finalizes revenue and cost recognition, and automatically clears all bridge accounts such as Work Not Billed, Excess Billing, and Project Billing. The project’s true margin is revealed, and no temporary balances remain. This guarantees a clean and accurate financial close.