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Interface financial system

  • July 8, 2022
  • 1 reply
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Hi all,

For a client I’ve been asked to investigate on what level (in general terms) interfaces from the TW ERP system with financial systems are working and especially when the financial systems are ERP systems themselves like EXACT Globe or Business Central (Microsoft) or other.

From my experience the interface is done on ledger level. So only financial bookings are created to reflect the financial output of the ERP process in the financial system.
However there may be reasons to interface sales orders and/or purchase orders as well.
Has anyone from a Business management perspective some best practice examples what choses are made (and why have those choses have being made) when talking about interfacing with financial systems. Basically it comes to the questions: Where do organizations lay down their cut between the TW ERP and the financial system? What data is generally interfaced?

It would help a lot to get some more perspective from your experience about this subject.
 

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1 reply

Frank Wijnhout
Thinkwise blogger

Hi Edwin,

At Thinkwise we usually this: We create journal entries in the financial system from the ERP system. The ERP system usually also contains a journal entry table so that only one link is needed. Sales invoices are created in the ERP system.

Payments are registered in the financial system. We often retrieve information about payments from the financial system to the ERP system, so that sellers can view this data.

Frank


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