Introduction to QAD Financials

QAD Financials consists of a set of financial modules that provide a complete solution for global manufacturing companies to:

The core financial administrative processes—General Ledger, Accounts Payable, Accounts Receivable, Budgeting, Cash Management, Consolidation, and Reporting—are integrated into one comprehensive system. This supports the financial administrator with system-wide control and immediate information on any aspect of the organization’s finances.

QAD Financials can be deployed across multinational organizations and supports multiple languages, currencies, and tax systems. Financial features manage international accounting issues, such as currency revaluation and differing tax systems, and function in both single-entity and multiple-entity environments. Extended budgeting and cost accounting features handle cost control and allocation issues.

Financials combines local legislative and business processes with cost accounting and management accounting practices specific to an organization’s needs, while providing support that enables the organization to comply with Sarbanes-Oxley and International Financial Reporting Standards (IFRS).

The term financials is used to refer to those modules, programs, and functions that deal with financial accounting and reporting. The term operational is used to refer to the other types of activities that take place in QAD applications, such as sales orders, purchasing, inventory transactions, and manufacturing activity.

Evaluated Receipts Settlement
Summarizes the Evaluated Receipts Settlement accounts payable feature.

Financial functions operate seamlessly within the .NET User Interface and provide the same basic features as other QAD application functions. However, some additional, extended features are available in the component-based functions that distinguish them from standard QAD application programs.

Workflow is a built-in automated approval process that can be applied to any record or document created in the system. It uses an Inbox feature and e-mail to notify users of actions they must take. For more information, see Introduction to QAD Enterprise Applications User Guide.

Built-in customization tools enable customization of the interface to specific organizational and user requirements. You can also use user-defined fields for capturing information. The system automatically includes these fields in browses.

When customizing Financials and integrating with Financials, you can refer to the QAD Financials API documentation for information on activities, queries, and methods for components.

The API documentation is provided in HTML format with each QAD Enterprise Financials release. It is stored in the HTMLdocumentation folder in your installation directory in a file called QADFIN_Documentation.zip.

The API documentation represents the documented class model for the application business layer, and is written by QAD developers. The API documentation is described in detail in the Best Practices for Customization training course.

For more information on customization, see QAD System Administration User Guide. You can also define user-defined business components to customize both the user interface and the application back-end.

The QAD .NET UI lets you export and import financial data to and from Microsoft Office applications, such as Microsoft Excel. You can also associate Microsoft Word documents or PDFs with any record in the system. This lets you, for example, associate an invoice document with the online record of the invoice. For details on document linking and Excel integration, see Introduction to QAD Enterprise Applications User Guide.

In component-based functions, most record description fields can be stored and viewed in multiple languages using a translation option available on the UI. These translations are available in some of the financial reports. See Introduction to QAD Enterprise Applications User Guide for details.

Go To buttons on the UI provide immediate access to other functions where related data is created so that you have single-click access to setting up new records that are needed. For example, while creating a new business relation, you can immediately create a new state code and reference it in the address. Go To navigation also lets you see related views using the current record as the basis for the related information. See Introduction to QAD Enterprise Applications User Guide for details.

Some financial functions let you create a record and save it in draft format to be completed at a later time. This lets you avoid passing all the required validation, while still establishing a record that can be corrected and finished later.