Financial Accounting System (FAS) Process

The purpose of the Financial Accounting System (FAS) process is to teach you the process of maintaining financial accounts in Financial Accounting System (FAS). Accounting is the bookkeeping method involved in making a financial record of business transactions and preparing statements concerning the assets, liabilities, and operating results of a business. The system that maintains these financial records is known as Accounting System.

In Billing & CRM solution, the financial data of the external organization is maintained in different accounts. For example: Receivables (for all the transactions of a customer), Sales (for any kind of sale done in the system), and Purchase (for all kinds of purchase in the system). In similar way, the FAS also maintains various accounts for different purposes. The accounts in the FAS should be mapped with respective accounts in MQ. To achieve this, we should define a FAS in Billing & CRM solution and then map the accounts. After the accounts are mapped, you should run the required jobs to update the accounts at FAS with the latest data available at MQ. The data is maintained on a periodic basis.

Follow the process to maintain accounts at FAS.

Define Financial Accounting System

FAS is an accounting system where the financial data of the organization is maintained. Financial data contains any transaction which debits or credits the account balance. The Financial Accounting System must be defined in Billing & CRM solution application. This is done through Financial Accounting System Lookup Code.

Navigation: System Administration Accounts Accounting System

Fig.1

  1. In Lookup Code Type drop-down, select Financial Accounting System.

  2. In Accounting System and Description box, type the name and description of the accounting system.

  3. In Status drop-down, select the value as Active.

  4. Click Save to define the Financial Accounting System.

Fig.1 cites an example where QUICKBOOKS is the FAS. Billing & CRM solution should be connected with FAS to update the accounts. The connection key and gateway URL helps you to establish a connection with FAS.

Now that the FAS is defined, you have to map the accounts in Billing & CRM solution with the accounts in FAS.

Map the Accounts

Mapping of account types is done through FAS Account Mapping screen. All the account types available in the system are displayed on the screen. Billing System represents the accounting system available in Billing & CRM solution where as Financial Accounting System represents the accounting system of the organization.

Navigation: Accounts Setup FAS Account Mapping

  1. In FAS Account box, type the account name of the Financial Accounting System for the corresponding account in Billing & CRM solution.

  2. In FAS Account Reference box, type the reference code. The FAS Account Reference is applicable only for receivables account. The reference is the name of the customer, operational entity, or organization to which the amount is posted.

  3. Click Save to map the accounts.

Run Generate GL Entries for FAS job

After the accounts are mapped, the financial transactions data present in Billing & CRM solution should be placed in the intermittent tables. This is done by scheduling Generate GL Entries for FAS job.

Navigation: Jobs Schedule Job

  1. In Name box, type the name for the job.

  2. In Category drop-down, select Other Jobs.

  3. In Program drop-down, select Generate GL Entries for FAS.

  4. In Application Server drop-down, select the application server.

  5. Click Schedule Now to schedule the job.

After the job is scheduled, the financial transactions are inserted into the intermittent tables ; FAS_GL_TRANSACTION and FAS_GL_TRANSACTION_DTL .

File Based Exporting

The data in the intermittent tables should be exported to a file. Schedule Export Data to File job to export the data to a file.

Navigation: Jobs Schedule Job

  1. In Name box, type the name for the job.

  2. In Category drop-down, select Batch Jobs.

  3. In Program drop-down, select Export Data to File.

  4. In Application Server drop-down, select the application server.

  5. In External Party drop-down, select Accounting System.

  6. Click Schedule Now to schedule the job.

After you run the job, the financial data available in the tables is exported to a file. Provide the file to the client. The client will do the required to update in FAS.

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The data in the intermittent tables should be updated in the FAS. Schedule Export to FAS to update the accounts of FAS.

Navigation: Jobs Schedule Job

  1. In Name box, type the name for the job.

  2. In Category drop-down, select Other Jobs.

  3. In Program drop-down, select Export to FAS.

  4. In Application Server drop-down, select the application server.

  5. In Accounting System drop-down, select the accounting system in which you want to update the data.

  6. Click Schedule Now to schedule the job.

After the job is scheduled, the accounts in the FAS are automatically updated with the data available in the intermittent tables.