What is master data in SAP EC-CS - Consolidation?

SAP Term: master data

• Component: EC-CS

• Component Name: Consolidation

• Description: The data that represents the organizational units of consolidation in the SAP system. This essentially involves data for the following units: Dimensions units groups group hierarchies Financial statement items Subitems

Smart SAP Assistant

• Key Concepts: 
  Master data in the EC-CS Consolidation component of SAP is a set of data that is used to define the structure of a company’s financial statements. This includes information such as the company’s legal entities, currencies, and accounts. Master data also includes the rules and settings that are used to generate financial statements. 
  
  How to use it: 
  In order to use master data in the EC-CS Consolidation component of SAP, users must first create a master data template. This template will contain all of the necessary information for generating financial statements, such as legal entities, currencies, and accounts. Once the template is created, users can then enter the necessary data into the template and save it. 
  
  Tips & Tricks: 
  When creating a master data template in the EC-CS Consolidation component of SAP, it is important to ensure that all of the necessary information is included. This includes not only legal entities, currencies, and accounts but also any other relevant information such as exchange rates or consolidation rules. Additionally, it is important to ensure that all of the data entered into the template is accurate and up-to-date. 
  
  Related Information: 
  For more information on master data in the EC-CS Consolidation component of SAP, please refer to the official SAP documentation or contact your local SAP support team. Additionally, there are many online resources available that provide detailed tutorials on how to use master data in SAP.