The Chart of Accounts is used to organize these accounts. The chart of accounts area consists of specifications that are necessary for functions across company codes. The company code-specific area contains data that may be defined differently in each company. The concept of master data is an important one in data management. Although it may seem complex at first glance it is the best method to eliminate duplication of data and to ensure compatibility of data among transactions.
Every customer has master data associated with it.
It is defined only once and in only one location, although there is a hierarchy of where that data is stored. Since numbers are assigned to accounts at this level, a customer receives the same account number in all company codes. Individual company codes store their own information on customers at the company code level. Before you create a new customer master record, you should check whether the customer already exists in the system. You must assign an account group to every master record.