The Danish government has initiated a fundamental shift in corporate accounting with the New Danish Bookkeeping Act (Bogføringsloven), backed by Executive Order 97 and reinforced by Executive Order 205. This is more than just new rules; it is a mandatory move towards complete digital bookkeeping, aimed at strengthening transparency and combating financial fraud. For companies, implemented well, this shift can bring more efficiency, better data visibility, and reduce the risk of non-compliance.
For Danish businesses using Iptor solutions, this means immediate action is required. Compliance is mandatory by January 1, 2026, or you could face serious financial and regulatory risks.
New Requirements You Must Know
The new Act introduces significant requirements that go far beyond traditional ERP functionality. The focus is on standardization, digital storage, and auditable data exchange.
Key requirements and the corresponding Iptor IUP Solution components are:
- Mandatory Digital Storage: All accounting records (transactions, receipts, vouchers, etc.) must be stored in digital form, on a third-party server. This is fulfilled by implementing NextWay (Next Software A/S), which archives records on a third-party server.
- E-Invoicing Capability: Systems must be capable of receiving, issuing, and archiving e-invoices. This is provided by InterForm, our integrated Output Solution partner.
- SAF-T Standard Support: The system must support the SAF-T (Standard Audit File for Tax) file format for standardized data exchange during audits. This is provided by NetLang, our Integration Solution product.
- Stricter Bank Reconciliation: The system must clearly show and track all transactions reconciled to the bank account versus those that are unreconciled. This requires the mandatory adoption of the Cashbook module.
Your Compliance Deadline
The deadline for full mandatory compliance for many smaller companies exceeding the turnover threshold is January 1, 2026. Companies running non-approved solutions can face fines up to DKK 1.5 million for violations of the digital bookkeeping requirements.
Key Deadlines include:
- By December 31, 2023: The Danish Business Authority (DBA) checks and registers accounting systems that meet the requirements and publishes them on their website.
- January 1, 2024: All compliant systems are listed publicly.
- July 1, 2024: Digital bookkeeping becomes mandatory for companies in certain accounting classes (B, C, D) using standard systems.
- January 1, 2026: Full mandatory compliance for many smaller companies and full incorporation of non-standard systems.
The Iptor solution: Iptor Unified Platform (IUP)
Iptor has made a clear strategic decision to focus all compliance development exclusively on our current Generally Available (G.A.) Release: Iptor Unified Platform (IUP).
Compliance is ONLY available in IUP. Previous DC1 versions and older Iptor.com versions will not be updated to meet these new requirements.
To achieve full compliance with the Danish Bookkeeping Act, customers must upgrade to IUP and adopt a mandatory suite of integrated components:
- Iptor Unified Platform (IUP): The core ERP and Standard Bookkeeping Software.
- Cashbook Module: Required for rigorous, compliant Bank Reconciliation.
- InterForm: Our Output Solution partner for e-invoicing and archiving outputs.
- NetLang: Our Integration Solution for e-invoicing and mandatory SAF-T data support.
- NextWay (Next Software A/S): Our Archiving Solution partner, ensuring all records are digitally stored on a third-party server.
IUP Platforming Options
Customers upgrading to IUP have two compliant platform configurations:
- IUP – MSaaS (Managed Software As a Service): Iptor manages the system backups, upgrades, and security of the core application, ensuring the latest builds are applied promptly.
- IUP – Customer Hosted (via an approved 3rd Party Provider ONLY): The customer is required to host via an approved 3rd party provider (a legal requirement). The customer retains responsibility for local backup, security, and the timely application of Iptor’s required IUP build updates.
Next Steps to Compliance
The process of upgrading to IUP, licensing the mandatory components, and migrating data takes time. Starting immediately gives your organization the best opportunity to ensure compliance and avoid financial and regulatory risks.
Our strong recommendation is to upgrade your Iptor ERP solution to the Iptor Unified Platform (IUP) as soon as possible.
Contact your local Iptor Account Manager today to formulate a Discovery Plan and execute your upgrade
On-premise or cloud: which solution is the right one?
An important question when implementing a new ERP system is the choice of operating model – local (on-premise) or cloud-based. Both approaches offer advantages and disadvantages that should be evaluated individually. Find out more in our article on this topic.
