A two dimensional transient numerical analysis and computational module for simulation of electrical and thermal characteristics during electrode melting and metal transfer involved in Gas-Metal-Arc-Welding (GMAW) processes is presented. Solution of non-linear transient heat transfer equation is carried out using a control volume finite difference technique. The computational module also includes controlling and regulation algorithms of industrial welding power sources. The simulation results are the current and voltage waveforms, mean voltage drops at different parts of circuit, total electric power, cathode, anode and arc powers and arc length. We describe application of the model for normal process (constant voltage) and for pulsed processes with U/I and I/I-modulation modes. The comparisons with experimental waveforms of current and voltage show that the model predicts current, voltage and electric power with a high accuracy. The model is used in simulation package SimWeld for calculation of heat flux into the work-piece and the weld seam formation. From the calculated heat flux and weld pool sizes, an equivalent volumetric heat source according to Goldak model, can be generated. The method was implemented and investigated with the simulation software SimWeld developed by the ISF at RWTH Aachen University.