In this task your accounting users will transfer AP vouchers to your financial accounting system.
Education:
Financial Transfer Guide - AP Voucher Transfer
Screen Help - AP Voucher Transfer
Training Task:
•Output open vouchers to a spreadsheet and flag as transferred.
AP Voucher Guidelines
Transfer AR and AP vouchers in real time
Transfer AR and AP vouchers in real time immediately after each set of invoices is generated or entered so that AR and AP account balances and aging profiles are always current in your financial accounting system for financial planning purposes.
Never skip PO invoice entry and AP voucher transfer
Never skip the entry and matching of supplier POs in the PO Invoices screen and the AP Voucher Transfer process. Skipping these functions ruins the PO processing workflow because PO matching is required for closing PO lines, supplier invoice entry is required to offset the Received Not Invoiced balance, and the voucher transfer properly updates accounts payable.
Do not skip using the financial transfer
Do not skip using the financial transfer because it is a mandatory process without which your company will have no accounting integrity. Even though you will be operating with two self-contained accounting systems, each system depends on the other for vital information. The WIP accounting in DBA, for example, relies on labor and overhead costing information from the financial accounting system to calculate shop rates. The financial accounting system will not have validity or useful value without AR and AP voucher invoices and manufacturing account totals.
Common Questions
Can I use DBA without the financial transfer?
DBA cannot function properly without proper accounting. If you do not post to the general ledger or transfer vouchers and account totals to your financial accounting system, the manufacturing system cannot function with any success. General ledger transactions are essential for establishing shop rates, tracking inventory and WIP balances, accounting for absorbed costs, and tracking sales and cost of goods sold accounts. Without the financial transfer, it is not possible to have valid and useful financial reporting for business management or tax compliance.
How can I use the financial transfer without a data import capability?
All three financial transfers – AR Voucher Transfer, AP Voucher Transfer, and GL Summary Transfer – involve one-line totals without any line item or transaction detail. If your accounting system does not have an import utility for customer and supplier invoices or journal entries, these financial transfers can easily be made by manual entry as follows:
•To transfer an AR voucher invoice you simply enter the customer, invoice number, invoice date, terms code, and a single non-inventory line item for the invoice total amount.
•To transfer an AP voucher invoice you simply enter the supplier, invoice number, invoice date, terms code, account number, and a single amount for the invoice total.
•To transfer period end account totals, you simply enter a batch journal entry with a single debit and credit amount per active account.
The two voucher transfers are each reconciled against a transfer account as a safeguard against data entry errors. The period end batch journal entry must be in balance as a safeguard against data entry errors. Whether transfers are made through data import or manual entry, they only take a few minutes per day.
