This guide explains the differences between master data and transaction data. It is intended for general users.
There are two different kinds of data in aACE: master data and transaction data.
Master Data
Master data is required to successfully complete a transaction. Master data includes:
- Offices
- Team Members (employees)
- GL Accounts
- Line Item Codes (products / services)
- Companies
- Contacts
Transaction Data
Transaction data typically involves an exchange of money. These records usually track specific exchanges between your company and other organizations. Transaction data includes:
- Orders
- Invoices
- Receipts
- Purchase Orders
- Purchases
- Disbursements
- General Journal Entries
Transaction Header Data vs Item Data
aACE tracks transactions using two separate types of records:
- Header Data — A header record represents the exchange itself and functions as a parent record for the item data.
- Item Data — An item record represents the things exchanged. Item records are linked to the header record by the ID field (e.g. Invoice ID, Purchase ID, etc).
As an example, an invoice header record contains information about the customer, billing terms, shipment details, or any general journal details:
The corresponding invoice item data contains information about the products sold, shipped, or any GJ entry items. Item data records can usually be reviewed in the various Details folders on the Main Menu (e.g. invoice item data can be found at Invoices > Details > Invoice Items). You can also review item data on the invoice record itself.
