E-conomic

E-conomic is a financial application (ERP) today owned by Visma. E-conomic manages all debit and credit including financial transactions.

The integration works in the following way:

• Upodi will automatically create booked invoices directly in E-conomic and set payment terms as in Upodi.
• Upodi will automatically create non-existing customers in E-conomic.
• Upodi will automatically create non-existing contacts in E-conomic.

In addition, Upodi supports advanced options such as accrual, and departmental booking.

Test account of E-conomic

You can sign up for a demo account of E-conomic here .

Requirements and Setup

To use E-conomic with Upodi, you need an account. Once the account is setup, follow these steps to integrate your Upodi account with your E-conomic account.

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Requirements

• For each Product Plan Charge created in Upodi you will need a matching Product created in economic with the Product's SKU (Stock keeping unit) as the Varenummer in economic.
• The Customer Group Number defined in your settings has to exist in e-conomic; this is where Upodi will create non-existing customers, if the setting to create customers has been enabled.
• Customer Account Number in Upodi must be a numeric value for e-conomic to accept it.

Connecting E-conomic to Upodi

1. If you do not have a subscription for e-conomic go to www.e-conomic.com and sign up.
2. Setup E-Conomic. Go to Sales, Customers and create a Customer Group with the name of your choice and the group number you've chosen in your economic settings. You will need to specify an account for revenues, typically 5600.
3. Setup each of your products created in Upodi in e-conomic with the proper SKU from Upodi in the Varenummer field in e-conomic.
4. Sign into Upodi, then select Apps in the Upodi section, and then select E-conomic.
5. Click on the button Install now.

Automatic booking of invoices

There are two options for how Upodi should handle booking of invoices in e-conomic. These options are as follows.

Creating customers in e-conomic

Upodi can automatically create customers and contacts which do not exist in e-conomic. By setting the "Customers will be created if not found" flag on the configuration page of e-conomic in Upodi upon creating a new invoice in Upodi, we check to see if the contact Account number exists in e-conomic. If the customer Account number does not exist, Upodi creates the customer with all available information.

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Customer account number

Please note that e-conomic requires the 'account number' to be a numeric value of a maximum of 8 characters in order to create the customer successfully.

The 'Customer group' specified in your Upodi settings must exist in e-conomic.

Accrual accounting

If you want to do accrual accounting in your e-conomic system you can choose the setting "Set accrual on invoice lines". This setting makes all invoice lines sent to e-conomic follow an accrual basis, where earnings are reported immediately based on invoice lines, as opposed to a cash basis, where earnings are calculated upon actually receiving the payment.

Please read this article from e-conomic on how it works and how it is configured correctly in e-conomic.

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Accrual

Be aware that accrual accounting needs to be turned on in e-conomic for this to work. It's an app called Anlæg og periodiseringer.

Whenever invoices are posted and booked in e-conomic you can also find them in Regnskab under Periodiseringer as Salgsperiodiseringer.

Payment Settlement

As a standard the e-conomic integration does not automatically settle payments, this has to be turned on with the section called Auto-settle payments.

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Auto-matching must be completed in economic

Please ensure that auto-matching is completed in economic to allow the payment settlement feature to complete. The auto-match will settle the invoice record in economic correctly for us to settle in Upodi.

Read more here.

There are four different options for auto-settling payments:

Not sure how to create a kassekladde in e-conomic?

1. Sign in to E-conomic here https://secure.e-conomic.com
2. Click All Options within the top menu (the wheel)
3. Find Cash books in the navigation menu. (Kassekladder in Danish)
4. Click New Cash book and name the cash book Upodi. Remaining options are optional

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Limitation

Be aware that Upodi will only auto-settle payments that are up to three months old between the two systems.