Welcome to Younium!
When you have been given access to your Younium tenant you are going to need to set up your environment function properly. This guide will take you through these steps.
We strongly recommend you to set up a project group with the following roles and competences:
- Younium Sponsor - We recommend this role to be part of the company's management team, typically this is a CFO or CEO.
- Younium implementation project manager - A project manager from the customer's side that can lead you through the implementation.
- Business controller - Setting up Younium will need deep insight into your financial operations. Meaning knowledge about your invoicing routines, bookkeeping, incoming payments, and revenue recognition.
- Financial assistant - Once onboarded into Younium, you will need a resource to manage the daily operations. This is typical, creating subscriptions, creating invoices, importing and settling payments.
These roles do not necessarily need to be separate resources and can be the same individual.
Once your Younium Implementation manager has given you access to your tenant we will automatically configure Younium to match your country of operations and the following settings will be set:
- Value-added tax configurations (VAT) - Younium will activate the standard countries based on our experience. This means that VAT will automatically be calculated based on your country of operations. E.g. If you create an invoice from Sweden 25% VAT will be calculated (if not other).
- Currencies - Based on your country the standard currencies will be added to your financial settings.
- Base currency - Younium will configure your based currency depending on your country of operations. EG in Germany will be Euro. Your base currency will be used as standard in all your basic operations such as the value of the order, insights, and more.
- Number sequences - All objects in Younium will have unique transactional numbers e.g. invoice number, account number, and more. We will automatically set up all your number sequences from Zero. For example, your first account will be numbered A-000001.
- Payment terms - Younium will set up standard payment terms in net days: 0, 14, 30, 45, and 60, 90. This is editable under settings if your standard is different.
- Tax Categories - Younium is configured with three different categories: Domestic, Export, and EU.
- Templates - Younium uses a document generation service for all generated documents in the service (invoices, order confirmation, reports, quotes, and more). Upon creating your tenant we will set a standard template for all in-service documents. These templates needs updating with your companies logos.
- Unit of measure - On the order, there is a term called unit of measure. Meaning, when creating an order with users, the unit of measure is users. We will create a standard set of units of measure for you. Users, hours, units, pieces. More can be customized depending on your operations.
- Payment method - If using accounts receivables in Younium, a payment method is needed. The payment method is what financial account to book your payment against.
- Chart of accounts - Younium will generate a set of journals (invoice, payment, and revenue journals), to create those properly your chart of accounts will be set with default values. This needs to be customized at a later stage to match your financial bookkeeping.
Customer specific settings
Once you get access to your tenant, the settings above will already be set. Below follows steps that are customer-specific and must be customized before you start using Younium.
Once access to your Younium tenant has been granted, open the Settings tab and start from the top. The settings below are the mandatory ones that need to be configured before implementation starts. There will also be other settings that you can review at a later stage depending on customer-specific needs.
- Profile - This is user-specific settings, configure your user. Please make sure you have selected the right date and number format depending on your country.
- Legal entities - This is your general company information. It will be used to create invoices and other system-generated functionalities. Fill out the mandatory information below:
- Organization number
- Tax registration number
- Create your Younium users and configure roles. Roles are what permission sets your users will have. We recommend all users in the Younium implementation team be Admin users, all other users should have limited access depending on their internal position.
2. General settings
- Number sequences
Here you can define if you would like a different number sequence than the Younium default one
If you use the OCR number on your invoices (ex, KID, FIK, Finnish reference number) you need to delete the value in the prefix- column and also align the number of digits if your bank has a requirement.
- Auto renewal - Schedule job
Younium can automatically renew your subscriptions. In practice, that means the end date of the order will be pushed with the number of months set in your renewal term.
For that to happen, a job to renew your orders must be set.
- Scheduled Jobs - Press Schedule job, select Order auto-renewal job.
- Set start to your next day of business and we recommend you to set the time during the night to have your orders renewed in the morning.
- Toggle “is recurring” to YES
- Repeat every: 1
- Repeat interval: Day.
This setting will renew all your orders with the setting auto-renewal enabled on the day when the cancelation period is reached.
- Upon creating your tenant, a standard set of currencies will be added. Please review that these currencies are the ones that you use for your sales operations. If you need other currencies than the ones set as standard, add them in this section.
- Exchange rates - Before creating your first order (subscription) you need to add an exchange rate to the currency that is used. Please see step below under integrations.
Chart of accounts
- Upon creating your tenant Younium will add a standard chart of accounts. Please consider if you at a later stage want to change this chart of accounts for better financial control.
Younium will typically be used in combination with a set of other systems such as a CRM and a Accounting software. Integrations is also used to fetch data outside of Younium that is needed to correctly run your Younium entity such as; Exchange rates from European central bank, Payments from your bank and other customer specific data. Please see more under the Integrations section.
- European Central bank - If selling services to other countries please synchronize exchanges rates by pressing the synchronize now button.
- Consider setting up a schedule job to fetch exchange rates on recurring basis.
- Also please consider what system is master for your exchange rates. Younium defines best practice to use the exchange rates from your accounting software. We support fetching exchange rates from the accounting systems that are connected to Younium.
Review your default settings when creating a new customer in Younium.
- Please make sure that there is default invoice template selected. Otherwise the pdf copy of the invoice will not be generated. See invoice template step above.
Unit of measure
Upon creating your Tenant Younium will ad a standard set of units of measure. Please review that the existing units of measure match your sales operations.
As default your invoice settings should be left as is, but it is worth taking notes that if you are going to run Accounts Receivables in Younium with OCR reference (KID, FIK, Finnish reference number, Swedish OCR) you need to set it up.
Younium uses your email server for sending out documents from Younium
- Email settings - Here you add the configuration for the email account you want to use together with Younium.
With the steps above have been completed you should be able to run Younium in a standard setup. Next phase of implementation would be business mapping of your processes.
9. Document Templates
Upon creating your tenant we will have included templates for your in service documents. We recommend that you style some of these with your companies logo and styling. The documents to take a look at are:
- Invoice reminder
- Account statement report
You reach the templates by going to Templates> Document templates> download, edit and upload them again.
Please contact your Implementation manager for instructions on next steps to go live!
// Younium team