The relationship between FI and MM was described from top to bottom by previous post.

I will talk about Master data, a little bit deeper.

In any ERP, master data is the key. The failure of this setting will cause vast bad effect on to all area.

I struggled when the settings of master data for account assignment and product hierarchy do not align with expected standard.

Accounting team is always nervous about these two because they have huge impacts on both Financial accounting and Control accounting.Financail accounting, however, must follow GAAP.So we can stand on the same page about account assignment, On the other hand, Co trol accounitng is for internal management reporting. The interest of this kind of report always somehow conflicts among stakeholders.