What is funds plan in SAP CRM-FM - Funds Management?

SAP Term: funds plan

• Component: CRM-FM

• Component Name: Funds Management

• Description: A collective set of funds. You use funds plans to group funds by purpose and organization.

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• Key Concepts: 
  Funds plan is a component of SAP CRM-FM Funds Management. It is used to manage the budgeting and forecasting of funds for an organization. It allows users to create and manage budgets, forecast future expenses, and track actual spending. Funds plan also provides a comprehensive view of the financial situation of an organization. 
  
  How to use it: 
  Funds plan can be used to create and manage budgets, forecast future expenses, and track actual spending. It allows users to set up budget plans, assign budget amounts to different departments or projects, and monitor the progress of budget plans. Funds plan also provides reports that can be used to analyze the financial situation of an organization. 
  
  Tips & Tricks: 
  When setting up a budget plan in Funds Plan, it is important to consider the long-term goals of the organization. This will help ensure that the budget plan is aligned with the organization’s objectives. Additionally, it is important to regularly review and update the budget plan in order to ensure that it remains accurate and up-to-date. 
  
  Related Information: 
  For more information on SAP CRM-FM Funds Management, please refer to the official SAP documentation at https://help.sap.com/viewer/product/CRM_FM/7.0/en-US.