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

SAP Term: funds plan type

• Component: CRM-FM

• Component Name: Funds Management

• Description: A categorization of sets of funds, which are called funds plans.

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• Key Concepts: 
  Funds plan type is a component of SAP CRM-FM Funds Management. It is used to define the characteristics of a funds plan, such as the currency, the fiscal year, and the planning period. It also defines the budgeting and forecasting methods used for the funds plan. 
  
  How to use it: 
  To use funds plan type, you must first create a funds plan in SAP CRM-FM Funds Management. Once you have created the funds plan, you can assign a funds plan type to it. This will define the characteristics of the funds plan, such as the currency, fiscal year, and planning period. You can also define the budgeting and forecasting methods used for the funds plan. 
  
  Tips & Tricks: 
  When creating a funds plan type, make sure to select the appropriate currency and fiscal year for your organization. This will ensure that all of your financial data is accurately represented in SAP CRM-FM Funds Management. Additionally, make sure to select an appropriate planning period for your organization’s budgeting and forecasting needs. 
  
  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