The financial transfer is used to transfer daily AR and AP vouchers to your financial accounting system for receivables and payables processing. At period end, account totals are transferred to update your main general ledger to reflect the activities of the manufacturing system.
Financial Transfer Guide »
What does the financial transfer do for you?
The financial transfer is used to update your financial accounting system to reflect the activities of the manufacturing system. The financial transfer provides the following features and benefits:
- It enables you to continue using your existing accounting system for financial applications - receivables, payables, banking, payroll, and general ledger - which greatly simplifies system implementation.
- If you wish to change your accounting system, you are free to use any accounting system that best suits your needs.
- If you operate a manufacturing facility within a larger enterprise, the financial transfer can be used to update your corporate ERP system.
- Only three financial transfers are required - AR Voucher Transfer, AP Voucher Transfer, and GL Summary Transfer - to fully update your accounting system to reflect the activities of the manufacturing system.
- Financial transfers are made through CSV file import or manual entry, depending on what import utilities are available with your accounting system.
- Customer invoices are generated in DBA and are transferred to your accounting system in a one-line voucher format for receivables processing.
- Supplier invoices are entered and matched with POs in DBA and are transferred to your accounting system in a one-line voucher format for payables processing.
- DBA has its own general ledger and transaction detail so that only account totals are transferred to your accounting system at period end.
- Inventory resides solely in DBA and therefore there is no need to synchronize part numbers, supporting tables, and inventory transactions in two systems.
Our design is optimized for small business
We've designed the financial transfer so that it can be successfully used by companies of any size, especially small businesses, for these reasons:
- One-way data transfer -- from DBA to your accounting system - enables DBA to be a fully self-contained system that works with any accounting system without data synchronization and connectivity issues or duplicate processes.
- Our standard chart of accounts is already setup and optimized for a manufacturing business.
- All GL posting is determined by settings in the Account Assignments screen so that sales and manufacturing personnel are never exposed to accounting setup or posting decisions.
- DBA has its own WIP accounting system, which tracks the value of work in process at the overall shop and individual job level and provides the means by which manufactured items are costed for inventory value and cost of goods sold. See the Product Costing Guide for details.