Finance master data in MDM

[Former Member]

My understanding is that you cannot use MDM for Finance master data like GL accounts or Cost Centers. Why ? And is there a best practice for centrally maintaining these kinds of master data if MDM cannot be used ?

[Former Member · Accepted solution]

SAP MDM gives you the ability to create a custom central repository even for financial objects like Chart of Accounts etc.

The important things to remember are:

1) Process

Map your business processes for creating, updating and deleting a certain object. This is the critical and most important step.

2) People (Can be construed as Security)

Map out who has access to create and maintain these objects. Also who is the intended audience for this information and how this information can be used by this audience.

3) Technology

Plan on how you are going to expose this information to the internal or external world. ex: Portal, GUI Client, AI forms etc

[Former Member · Accepted solution]

In EHP 4 SAP has introduced the MDM for Finance with it'ss own data model

[Former Member]

Hi Joe,

there is no rule to cut down the use of finance master data.We have been doing this in our projects.Only additional thing would be extending of standard IDOC to accumulate the addtional fields.We have accomodated finance master data in a customised qualified tables by adding fields similar to ECC.in all our object has genral,purchase,finance and tax data and all is maintained in MDM with field for GL and others.This finance data is having company code as non qualifier and rest as qualifiers

Thanks

Vinay

[Former Member]

Has there been any thought towards reproducing the functionality provided by Master Data Governance for Finance within the MDM for NetWeaver 7.1 product? It would go a long way towards proving that MDM for NetWeaver 7.1 can handle financial master data.

Also, are there any plans for creating templates in MDM for NetWeaver 7.1 for other functional areas? The perception in the marketplace is that the product is geared towards managing product master data.

[Mark63]

As already stated above, SAP NetWeaver MDM can generally be applied for several master data entities, and you can even create user-defined data models. So if scenario requirements do not match the specified scope of SAP Master Data Governance, financial data, SAP NetWeaver MDM can come into play. But there are no plans to replicate the scope of SAP Master Data Governance, financial data in SAP NetWeaver MDM.

As far as MDM Business Content is concerned, up-to-date info is provided at the [MDM Business Content site|].

[Mark63]

According to our strategy we have extended the SAP MDM solution with SAP Master Data Governance, financial data. This is a packaged application with predefined data models, UIs and processes that are optimized for SAP Business Suite applications. Customers are recommended to use this to centrally govern their creation and maintenance of Chart of Accounts for predominant use in an SAP-centric landscape.

SAP NetWeaver MDM, being an application-agnostic multi-domain infrastructure component that is used to manage master data in (heterogeneous) multi-system landscapes can generally be applied for several master data entities, and you can even create user-defined data models. So if scenario requirements go beyond the specified scope of SAP Master Data Governance, financial data, SAP NetWeaver MDM can come into play.

Best regards,

Markus

[former_member198313]

Hi Joe,

Please suggest that what are the challenges you are getting to implement MDM for finance data.

I am sure that MDM can be very well used for finance master data as well.

+ An