Glossary
Settlement
An invoice is open until it is paid. Settlement is the step where the invoice and the payment are matched, so together they add up to zero and the customer or supplier no longer owes anything on it. What is not settled is the open items. The Danish word is udligning.
Updated 21 October 2026
What is settlement?
You send invoice 1038 for 7,500 kr. Three weeks later 7,500 kr. arrives in the bank with the text "faktura 1038". Settlement ties the two vouchers together on the Debtors account: the invoice pushed the account up, the payment pushed it down, and the group nets to zero. If the customer pays in two instalments, the invoice stays open until the last one has arrived.
Settlement always covers one counterparty at a time and one control account, Debtors or Creditors. A settlement can be released if it was wrong, and the two vouchers are then open again. It is not a reconciliation of the whole account, but of the individual invoices.
Settlement in Veneti
In Veneti the payment is settled automatically against the customer invoice when it quotes the invoice number and the amounts net to zero; a part payment keeps the invoice open until the rest arrives. The Receivables and Payables reports under Reporting show each customer's and supplier's open items, and with the Settle button you match vouchers yourself, for example a supplier payment that does not quote the invoice number.
A settlement survives booking, and if you reverse a settled voucher with a reversal, its counterpart is open again. The terms behind it: Debtor and Creditor.
Related terms
- Debtor: the customer whose invoices and payments are settled.
- Creditor: the supplier whose invoices and payments are settled.
- Reconciliation: the check of the whole account.