General Ledger, Accounts Payable & Receivable, Cash & Bank Management, Fixed Assets, Tax, Cost Management, and Biological Asset Accounting.
| ID | Requirement | Description | Priority |
|---|---|---|---|
| FIN-001 | Norwegian Chart of Accounts | Support Norwegian standard chart of accounts (NS 4102 basis) with full flexibility to add/modify accounts. | Mandatory |
| FIN-002 | Multi-Dimensional GL | Support at least 5 financial dimensions in addition to the main account: Cost Center, Department, Project, Fish Generation (year class), and Region. | Mandatory |
| FIN-003 | Fish Generation Dimension | Support a "Fish Generation" dimension that tracks biological production costs by year class/generation across the entire lifecycle (smolt → sea → harvest → processing). | Mandatory |
| FIN-004 | Period Management | Support 12 fiscal periods + at least 1 closing/adjustment period per fiscal year. Fiscal year follows calendar year. | Mandatory |
| FIN-005 | Journal Entry Types | Support multiple journal entry types: manual, recurring, reversing, accrual, allocation, system-generated, and imported journals. | Mandatory |
| FIN-006 | Inter-Dimensional Allocations | Support cost allocation rules to distribute costs across dimensions (e.g., HQ overhead allocated to farming regions based on harvest volume). | High |
| FIN-007 | Accrual Management | Support automated accrual and deferral schedules with automatic reversal. Needed for: prepaid insurance, license fees, maintenance contracts. | High |
| FIN-008 | Currency Revaluation | Support automated periodical revaluation of foreign currency balances (bank accounts, receivables, payables) with gains/losses posted to designated GL accounts. | Mandatory |
| FIN-009 | Consolidation Support | Support single-entity consolidation reporting with elimination of internal transactions between cost centers/regions. | High |
| FIN-010 | Audit Trail | Maintain a complete, immutable audit trail for all GL transactions including: user, timestamp, source, before/after values. | Mandatory |
| FIN-011 | Period Close Workflow | Support structured period-end close process with checklist, task assignment, status tracking, and sign-off capability. | High |
| FIN-012 | Trial Balance & GL Reports | Provide standard trial balance, detailed GL account reports, dimension analysis, and balance sheet/P&L reports with drill-down to source transactions. | Mandatory |
| FIN-013 | Intercompany Postings | Although NordHav is a single entity, support intercompany-like postings between regions/cost centers with automatic balancing entries for potential future corporate restructuring. | Desirable |
| FIN-014 | Batch Journal Import | Support import of journal entries from external systems (e.g., payroll, farming systems) via file upload (CSV, XML) or API. | Mandatory |
| FIN-015 | Document Attachment | Allow attachment of supporting documents (PDF, images) to any GL transaction for audit purposes. | High |
| ID | Requirement | Description | Priority |
|---|---|---|---|
| FIN-016 | Vendor Master Data | Comprehensive vendor master with: name, address, bank details, payment terms, currency, tax information (org.nr, MVA registration), vendor group classification. | Mandatory |
| FIN-017 | EHF Electronic Invoice | Support receiving and processing EHF (Elektronisk Handelsformat) electronic invoices per the Norwegian PEPPOL/EHF standard. | Mandatory |
| FIN-018 | OCR Invoice Processing | Support OCR or AI-based capture of PDF and paper invoices with automated data extraction (vendor, amount, date, invoice number, bank account). | High |
| FIN-019 | Three-Way Matching | Support automatic three-way matching of Purchase Order → Goods Receipt → Vendor Invoice with configurable tolerance thresholds. | Mandatory |
| FIN-020 | Invoice Approval Workflow | Configurable multi-level invoice approval workflow based on: amount, cost center, category, and approval matrix. Support mobile approval. | Mandatory |
| FIN-021 | Recurring Invoices | Support templates for recurring vendor invoices (e.g., monthly rent, license fees, service contracts). | High |
| FIN-022 | Prepayment Management | Support vendor prepayments/advances with tracking, application against future invoices, and aging reporting. | High |
| FIN-023 | Payment Proposal | Generate payment proposals based on due dates, payment terms, cash discount opportunities, and priority. Support manual adjustments before execution. | Mandatory |
| FIN-024 | Norwegian Payment Formats | Support Norwegian domestic payment formats (ISO 20022 pain.001 for Norway) and international SEPA/SWIFT payment formats. | Mandatory |
| FIN-025 | Bank File Generation | Generate payment files for upload to banking systems (DNB, Nordea). Support Norwegian AutoPay/AvtaleGiro formats where applicable. | Mandatory |
| FIN-026 | Remittance Advice | Automatically generate and send remittance advice to vendors upon payment (email or EDI). | High |
| FIN-027 | Vendor Aging Report | Provide detailed vendor aging reports by due date buckets, with drill-down to individual invoices. | Mandatory |
| FIN-028 | Vendor Statement Reconciliation | Support systematic reconciliation of vendor statements with AP ledger. | High |
| FIN-029 | Withholding Tax | Support withholding tax (kildeskatt) calculations and reporting for applicable foreign vendor payments. | Desirable |
| FIN-030 | Vendor Self-Service Portal | Provide a vendor self-service portal where vendors can view PO status, submit invoices, check payment status, and update bank details. | Desirable |
| ID | Requirement | Description | Priority |
|---|---|---|---|
| FIN-031 | Customer Master Data | Comprehensive customer master with: name, delivery addresses, invoicing address, contact persons, payment terms, credit limit, currency, customer group, sales region, Incoterms default. | Mandatory |
| FIN-032 | Multi-Currency Invoicing | Support invoicing in multiple currencies (NOK, EUR, USD, GBP, JPY, SEK, DKK) with automated exchange rate lookup. | Mandatory |
| FIN-033 | EDI Invoicing | Support EDI invoice transmission to major retail customers (EDIFACT INVOIC or PEPPOL BIS Billing). | High |
| FIN-034 | Credit Note Management | Support credit notes with: reason code, link to original invoice, automatic reversal of revenue and COGS, approval workflow. | Mandatory |
| FIN-035 | Weight-Based Invoicing | Support invoicing based on actual delivered weight (common for fresh fish where exact weight varies from order). System must handle catch-weight/variable-weight billing. | Mandatory |
| FIN-036 | Customer Credit Management | Automated credit limit checking at sales order entry. Block orders when credit limit exceeded, with override capability for authorized users. | Mandatory |
| FIN-037 | Customer Aging & Dunning | Provide aging reports by customer and support automated dunning processes (dunning letters, frequency, escalation). | Mandatory |
| FIN-038 | Factoring Integration | Support integration with non-recourse factoring (receivables sale) including: assignment of receivables, tracking of factored invoices, recording of factoring fees. | High |
| FIN-039 | Rebates & Volume Discounts | Support customer rebate schemes based on: volume (kg), revenue, product mix. Calculate accruals and settle rebates periodically. | High |
| FIN-040 | Claims Management | Track customer quality and delivery claims: claim registration, investigation, resolution, credit note issuance, and reporting/trending by claim type. | High |
| FIN-041 | Revenue Per Kg Analysis | Report revenue per kg by: product, customer, market, species, quality grade, sales channel (contract vs spot). | Mandatory |
| ID | Requirement | Description | Priority |
|---|---|---|---|
| FIN-042 | Asset Register | Comprehensive fixed asset register supporting: acquisition, transfer, split, merge, revaluation, impairment, write-off, and disposal. | Mandatory |
| FIN-043 | Norwegian Tax Depreciation | Support Norwegian declining-balance depreciation groups (saldogrupper a–j) per the Norwegian Tax Act (Skatteloven §14-41 to §14-48). | Mandatory |
| FIN-044 | Accounting Depreciation | Support multiple depreciation methods for accounting purposes: straight-line, declining balance, units of production. Allow different accounting and tax depreciation books running in parallel. | Mandatory |
| FIN-045 | Asset Classification | Classify assets by: type, location, department, cost center, operational area (farming, processing, VAP, admin). | Mandatory |
| FIN-046 | Insurance Valuation | Maintain insurance replacement values alongside book values. Support annual insurance value updates. | High |
| FIN-047 | Capital Project Management | Track capital projects (CAPEX) from budgeting through commitment, procurement, construction/installation, and capitalization (transfer to fixed asset). | High |
| FIN-048 | Asset Maintenance Link | Link fixed assets to the maintenance management module for maintenance history, costs, and remaining useful life assessment. | High |
| FIN-049 | Lease Accounting | Support lease accounting per IFRS 16 (right-of-use assets, lease liabilities, interest expense, depreciation) for office leases, vehicle leases, and equipment leases. If Norwegian GAAP, support NRS 14. | High |
| FIN-050 | Barcode/Tag Tracking | Support asset tagging with barcodes or QR codes for physical verification/inventory. | Desirable |
| ID | Requirement | Description | Priority |
|---|---|---|---|
| FIN-051 | Bank Account Management | Manage multiple bank accounts across currencies (NOK, EUR, USD, GBP, JPY) with real-time balance visibility. | Mandatory |
| FIN-052 | Bank Reconciliation | Automated bank statement import (ISO 20022 camt.053/054 or Norwegian formats) with automated matching of bank transactions to GL entries. | Mandatory |
| FIN-053 | Cash Flow Forecasting | Provide cash flow forecasting based on: AP payment schedule, AR expected receipts, recurring transactions, payroll schedule, planned CAPEX. Support 13-week rolling cash flow. | High |
| FIN-054 | Currency Exposure | Report outstanding currency exposure from receivables, payables, and bank balances. | High |
| FIN-055 | FX Hedge Management | Record and manage FX hedging instruments (forward contracts). Optionally support hedge accounting entries per IAS 39/IFRS 9 or Norwegian GAAP equivalent. | High |
| FIN-056 | Salmon Price Hedge | Track Fish Pool financial contracts (salmon futures/forwards) used for price hedging. Record fair value changes and settlement. | Desirable |
| ID | Requirement | Description | Priority |
|---|---|---|---|
| FIN-057 | Biological Asset Register | Maintain a register of biological assets (live fish) classified by: location (site/pen), generation, species, and life stage (smolt, post-smolt, sea grow-out). | Mandatory |
| FIN-058 | Cost Accumulation | Accumulate production costs to biological assets per generation: smolt cost, feed, labor, well-boat, treatments, mortality write-off, site overhead. | Mandatory |
| FIN-059 | NRS 8 Cost Valuation | Value biological assets at accumulated cost per NRS 8 (Norwegian GAAP), with net realizable value ceiling test. | Mandatory |
| FIN-060 | IAS 41 Fair Value | Optionally support fair value less costs-to-sell valuation per IAS 41 (IFRS) using: biomass estimates, forward price curves, estimated remaining costs, and quality assumptions. | High |
| FIN-061 | Biomass Integration | Integrate biomass data from farming operations (live weight by pen/site) to automatically update the biological asset register. | Mandatory |
| FIN-062 | Mortality Write-Off | Automatically calculate and post the accounting cost of mortality (dead fish write-off from biological asset value). | Mandatory |
| FIN-063 | Harvest Cost Transfer | Upon harvest, transfer the accumulated cost of harvested biomass from biological assets to work-in-progress/inventory (COGS). | Mandatory |
| FIN-064 | Generation P&L | Produce a full P&L statement per fish generation (year class), spanning from egg input through final product sale. | High |
| FIN-065 | Biomass Valuation Report | Monthly biomass valuation report showing: standing biomass (tonnes) by site, accumulated cost, fair value estimate, and unrealized gain/loss per IFRS. | Mandatory |
| ID | Requirement | Description | Priority |
|---|---|---|---|
| FIN-066 | Cost Per Kg Tracking | Calculate and report production cost per kg at each stage: smolt (per fish), sea farming (per kg live/HOG), primary processing (per kg by product), VAP (per kg/unit by SKU). | Mandatory |
| FIN-067 | Standard Costing | Support standard cost methodology with variance analysis (price variance, usage variance, yield variance) for processing and VAP operations. | High |
| FIN-068 | By-Product Costing | Allocate joint costs between primary products and by-products using configurable allocation methods (net realizable value, physical quantity, or fixed percentages). | Mandatory |
| FIN-069 | Yield Analysis | Report processing yields (kg output / kg input) by product, line, shift, and period. Link yield changes to financial impact. | High |
| FIN-070 | Feed Cost Per Kg | Calculate feed cost per kg of biomass produced, integrating feed consumption data from farming operations with feed purchase prices. | Mandatory |
| ID | Requirement | Description | Priority |
|---|---|---|---|
| FIN-071 | Norwegian VAT (MVA) | Support Norwegian VAT rates (25% standard, 15% food, 12% transport/hospitality, 0% export) with automated MVA return calculation and filing capability. | Mandatory |
| FIN-072 | SAF-T Compliance | Generate SAF-T (Standard Audit File for Tax) in the Norwegian standard format (version 1.10 or current) for submission to Skatteetaten. | Mandatory |
| FIN-073 | Resource Rent Tax Support | Support calculation and tracking of the Norwegian aquaculture resource rent tax (grunnrenteskatt), including: norm price determination, taxable income calculation, investment allowance deductions, and separate reporting schedules. | Mandatory |
| FIN-074 | A-melding Integration | Support or integrate with A-melding (monthly payroll/tax/social security reporting to Skatteetaten/NAV/SSB). | Mandatory |
| FIN-075 | Tax Depreciation Reporting | Generate tax depreciation schedules per Norwegian declining balance (saldo) rules for all asset groups. Calculate difference between accounting and tax depreciation. | Mandatory |
| FIN-076 | Annual Tax Return Support | Provide data and reports to support preparation of the annual corporate tax return (Skattemelding for aksjeselskap). | High |
| FIN-077 | Transfer Pricing Documentation | Support documentation of internal pricing (e.g., fish transferred from farming to processing at arm's-length price) for resource rent tax and internal margin analysis. | High |