What is prediction ledger in SAP FI-PRA - Predictive Accounting?

SAP Term: prediction ledger

• Component: FI-PRA

• Component Name: Predictive Accounting

• Description: The extension ledger used for recording predictive journal entries that are created as part of the predictive accounting process.

Smart SAP Assistant

• Key Concepts: 
  The SAP FI-PRA Predictive Accounting component includes a feature called the prediction ledger. This ledger is used to store and manage data related to the prediction of future financial events. It allows users to create and manage forecasts of future financial events, such as sales, expenses, and profits. The prediction ledger also provides a platform for users to analyze and compare different scenarios and make decisions based on the data. 
  
  How to use it: 
  The prediction ledger can be accessed through the SAP FI-PRA Predictive Accounting component. Once in the component, users can create a new prediction ledger by entering the desired parameters, such as the forecast period, currency, and forecast type. Once created, users can enter data into the prediction ledger and use it to generate forecasts of future financial events. 
  
  Tips & Tricks: 
  When creating a new prediction ledger, it is important to ensure that all parameters are entered correctly. This will ensure that the data entered into the prediction ledger is accurate and can be used to generate reliable forecasts. Additionally, users should regularly review their predictions and adjust them as needed in order to ensure that they are up-to-date with current market conditions. 
  
  Related Information: 
  The SAP FI-PRA Predictive Accounting component also includes features such as budgeting, forecasting, and reporting tools. These tools can be used in conjunction with the prediction ledger to help users make more informed decisions about their finances. Additionally, SAP offers a variety of training materials and resources that can help users learn more about using the prediction ledger and other features of the FI-PRA Predictive Accounting component.