Quite right. In fact, money enters the stage as soon as wages are paid out to workers by firms for their product. The very instant a worker is credited with a sum of money, the firm is debited with the exact same sum of money. The worker's credit and the firm's debit are merely two aspects of the same phenomenon. This is why money is essentially an asset-liability. Physical output is the object of the transaction which leads to the creation of the debit (on the asset side of the bank's balance sheet) and of the credit (on the liabilities side of the bank's balance sheet). By owning positive bank deposit, the worker now commands over the purchasing power of the output he himself produced. This is how money and output are linked: they are objects of each other.