Master data :- It refers to the information that is present in the system for its lifetime. It is where a reference and other derivations that a transactional data get its characteristics. Master data are the top level data cause systems requires it in order to run.
The Master Data is one time job.
examples : Vendor , customer, GL account creation is master data
Transactional data :- refers to the facts or encoded information during the transaction process.
Transaction data is day to day job.
examples : Using Vendor, customer or GL account in document is called Transaction data.
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