e-conomic is the cloud accounting program sold in Denmark by Visma e-conomic A/S. Its subscription terms say that the application is “a business to business service” provided by Visma e-conomic A/S, CVR number 29403473, and that the terms are accepted when an agreement or demo agreement is created, when the application is used, or by other indication of acceptance.[1] The application is delivered as software as a service; the customer gets “en ikke-eksklusiv adgang” (non-exclusive access) and never acquires the application or a copy.[1] See e-conomic grants access, not a copy and e-conomic is a business-to-business service.
The terms use several defined roles. The bookkeeping company (Den Bogføringspligtige) is the business whose accounts are processed. An administrator is a company, for example an external accountant, that manages one or more agreements for bookkeeping companies through an administrator module. A user is any person created by the bookkeeping company or the administrator who uses the application with login credentials, and a superuser has more rights, including changing basic settings and exporting data.[1]
Editions
The price page sells four packages. Each is priced per month excluding VAT, with no set-up fee, for at least 1,000 postings a year.[2]
| Package | Monthly price from (DKK, excl. VAT) | What the page says it adds |
|---|---|---|
| Basis | 249 | Core accounting functions: ledger, VAT, reporting, year-end, customer management, multi-currency, accountant access, mobile app, e-invoicing, document approval |
| Plus | 299 | Described as good for integrations and selling services |
| Smart | 399 | Bank workflows and automatic suggestions in bank reconciliation; Firmakort (company card) for paying users on Smart or Komplet |
| Komplet | 649 | Adds up to three accounting dimensions, one extra user in the subscription and a dedicated team of advisers; also includes the Smart bank workflow features |
The base prices above are for the lowest posting tier. Each package is quoted for a chosen number of postings a year, from 1,000 up to 800,000, and above that the customer is asked to contact e-conomic.[2] A holding company can take an extra subscription that includes all functions from the Komplet package and 250 postings.[2] See e-conomic packages and starting prices and A holding company agreement includes Komplet and 250 postings.
Add-on modules and separately priced items on the price page include extra users, expense users, time registrants, payroll at DKK 25 per payslip, Academy at DKK 179 a month and a budget tool at DKK 329 a month with a 14-day trial.[2] The terms add that some functions, services and modules may have separate conditions that must be accepted in addition to the subscription terms before they are used.[1] See Add-on services can carry separate terms.
Metrics
Posting level. A posting is a registration in the accounts. The price page says a posting is made every time an account is credited or debited, and that posting a document usually creates several postings: a fuel receipt can give three, and rent or payroll eight to ten.[2] Section 3.3 of the terms states that the agreement’s current posting level is calculated from the number of postings in both the current and other accounting years, and is upgraded automatically when the limit is exceeded. The payer is told about the upgrade and the new price, which takes effect from the moment the posting limit is exceeded.[1] The price page repeats the rule and adds that one year counts as one accounting year.[2] See Posting level upgrades automatically when exceeded, Upgraded posting price applies from the moment of excess and Exceeding the selected postings upgrades to the next limit.
User. Extra ordinary users cost DKK 149 a month, expense users DKK 39, time registrants DKK 79 and mobile time registrants DKK 39, all excluding VAT; the Komplet package includes one extra user.[2] Login credentials are unique and may be used by one individual user only, and a breach is treated as a material breach.[1] The bookkeeping company must always be a superuser on the agreement when it has access.[1] See Login credentials are unique to one user, Bookkeeping company must be Superuser, Extra ordinary users cost DKK 149 per month and Time registrants are priced separately.
Agreement. An agreement is defined as any agreement created in e-conomic, including administrator modules.[1] Changes to the agreement, including package upgrades, added add-on modules, and higher numbers of postings or users, may be invoiced on an ongoing basis. See Plan changes may be invoiced continuously.
Counting / floors
Invoicing. The first billing period runs from the order date to the end of a quarter and billing is then quarterly in advance unless otherwise agreed.[1] The price page says payment is collected quarterly, by invoice sent to the invoice email address, with optional automatic payment.[2] Payment terms are 8 days net. A first reminder without fee is sent 7 days after the due date, a second reminder 10 days later carries a fee of DKK 150, and access is blocked if payment is still missing 7 days after the second reminder; access reopens on payment unless e-conomic has already cancelled the agreement.[1] See Billing is quarterly in advance and Payment is 8 days net with reminders and closure.
Prices and packages. Current prices are on the website and can be changed with one month’s notice to the end of a quarter. All prices exclude VAT.[1] The composition and content of packages and add-on modules can be changed on the same notice.[1] See Prices change on one month’s notice to quarter end and Package contents may change with one month’s notice.
Termination. The customer ends an agreement, downgrades a package or drops an add-on module in the application, with effect from the end of a quarter unless the service says otherwise. e-conomic can terminate on six months’ notice to the end of a quarter, or without notice for material breach or insolvency.[1] There is no right of withdrawal when ordering an agreement.[1] See Customer termination takes effect at quarter end and e-conomic may terminate on six months’ notice.
Inactivity. An agreement that has had no login for more than 18 months can be cancelled on one month’s notice, except archive licences.[1] See Inactive agreements can be cancelled after 18 months.
Virtualization & partitioning
Not applicable. The terms contain no installation or partitioning rules. They prohibit automated extraction from the application, “including scraping”, and allow access to be closed if activity burdens the application enough to cause disruption.[1] See Automated extraction and scraping are not permitted.
Cloud / BYOL
Not applicable. The agreement cannot be transferred to a third party except by an administrator taking over the payment obligation under section 4.5, and a transfer of payment needs the previous payer’s acceptance.[1] Third-party integrations are outside e-conomic’s responsibility, and e-conomic may share application data with other Visma group companies on the same terms and under the data processing agreement.[1] See Agreement cannot be assigned to a third party and Data may be shared within the Visma group.
Programs
Administrator module. An administrator linked through the module can take over the payment obligation, and then also changes the package, buys add-ons, creates and removes users and ends the agreement; the bookkeeping company loses those rights but remains data controller while it has access. Access to the administrator module may at no time be shared with the bookkeeping company, and breach is a material breach.[1] See e-conomic administrator module, Administrator may take over payment and Administrator module access is not shared with the bookkeeping company.
Demo agreement. A free demo agreement gives 14 days of access and expires automatically unless upgraded to a paid package.[1] See e-conomic demo agreement.
Archive licence. A licence type that lets the bookkeeping company keep its accounting material for 5 years from the end of an agreement, to satisfy its retention duty under Danish bookkeeping law. It must be ordered before the agreement ends and takes effect from the next quarter.[1] Exported data should be taken before termination, and e-conomic aims, where reasonable, to allow a 10-day export period afterwards.[1] See Archive licence keeps data for five years and Export window is about 10 days after termination.
Terms, liability and law
e-conomic may change the terms in any respect and aims to give one month’s notice by email; continued use counts as acceptance.[1] Its total liability is capped at the payments for the agreement in the 12 months before the event and in all cases at DKK 10,000, and it is not liable for actions by users or administrators or for unauthorised access resulting from, for example, not using two-factor authentication.[1] Danish law applies and disputes go to the Copenhagen City Court.[1] See e-conomic liability is capped at 12 months of fees or DKK 10,000, Danish law and the Copenhagen City Court apply and Terms change with one month’s notice by email.
Out of scope
This article does not cover e-conomic’s data processing agreement, the privacy policy, app partner or certified reseller programmes, third-party apps in its integrations marketplace, or the payroll and company card services beyond the prices on the price page. Fees charged by the card scheme or payment partners for Firmakort transfers and credit agreements are set on the price page and not summarised here. There is no audit clause in the subscription terms.