Master data management
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Master data management refers to the processes, governance structures, systems and content in place to ensure consistent and accurate source data for transaction processes.
Master data in Sage Intacct might contain parameters that control all the transactions that use that master data. For example, a supplier master record might hold information about the control account used for all postings to that supplier, which is a key control over accuracy. They might also hold information that links to access or permission. For example, only users with specific permissions can post transactions that involve the master record), which is a control over existence. They can also ensure that transactions are posted with valid values, which can also be a control over existence/occurrence.
To learn more about examples of master data management options, see:
Considerations for master data management controls
When you develop rules for master data, make sure that migrated master data is set up in according to those rules. Otherwise, controls and even process functionality might not work.
Also, make sure to provide user procedures and training to ensure that users who are responsible for updating master data are aware of the control implications. Otherwise, the controls that are supported by master data can become ineffective. One way to do this is to make sure that all data that supports controls is made mandatory when creating master records and that values in these fields are subject to review (for example, by developing custom reports to monitor values in those fields).
Many organizations that use Sage Intacct leverage the Customization and Platform Services for the tailored management of master data that's appropriate for their business needs.
To learn more, see:
More detailed guidance with master data management is in the Workflow Controls sections in the following help topics:
