Defense Accounting Finance 

The Defense finance and Accounting Services manages defense accounting finance of the USA. It is a sub-sect of the USA Department of Defense and has been operating based in Indianapolis since 1991. If any one wants to know the largest finance and accounting body in the World, DFAS is the answer. It handles all the financial matters of DoD that include payments for military personnel, payments for civilians who are attached to defense entities, its customers, services providers etc. It also manages financial matters of government agencies such as the presidential executive office, environmental protection agency, veteran’s affairs department, department of energy, health and human services department and governors' broadcasting board.

Mostly the governmental customers supply the working capital of the defense accounting finance in return for its operating costs in these entities. This relationship with the government departments through its service enhances the quality of continuous services of the DFAS. Since its inception with the initiatives of Defense Secretary, Dick Cheney at that time, Defense finance and accounting service have been reducing its overall expenditure effectively, which was one of the primary considerations for its implementation. For example, now it is operating only in 13 sites from the 300 offices, which were in the initial stages and having succeeded to reduce its workforce to just 12,000 personnel from its earlier workforce of 27,000 personnel.

The DFAS became one of the providers of payroll service to the USA government in 2003. Its e-Portal was named one of the best government intranet services by Nielsen Norman Group in 2004. Now it has been restructured integrating with other major centers and has become a joint service grantor for all the army services in the USA. The changes made in 2005 ensured it’s further development and turned that to be one of the most exceptional financial services in the whole World.

For the fiscal year, 2009, it has processed more than 181 million transactions of payments to more than six million people and has made 7.8 m payments for traveling. It has made 12.8 m commercial invoices and maintained 178.8 m general accounts as well as managed retirement and health funds worth over $426.7 billion. The disbursements made by DFAC were worth $553 billion during the said period and have completed $37.7 billion worth foreign military related sales as well. It has also activated 956 DoD appropriations. The DFAS has branches in many USA states and foreign countries including Arlington, VA; Bratenhl, Ohio; Cleveland, Ohio, Columbus, Ohio; Indianapolis, Indiana; Texarkana, Texas; Limestone, Marine; Rome, New York; Japan; and Europe.