What is 'contract category' in SAP FS-AM - Account Management?

contract category - Overview

• Component: FS-AM

• Component Name: Account Management

• Description: A four-digit numeric key that the system uses to map contracts. &EXAMPLE& 0001 Account

contract category - Details

• 
  Key Concepts: 
  Contract category is a feature of the FS-AM Account Management component of SAP. It is used to classify contracts into different categories, such as customer contracts, vendor contracts, and service contracts. This allows for easier management and tracking of contracts.
  
  How to use it: 
  Contract categories can be created in the FS-AM Account Management component of SAP. Once created, contracts can be assigned to the appropriate category. This allows for better organization and tracking of contracts.
  
  Tips & Tricks: 
  When creating contract categories, it is important to consider how they will be used in the future. It is also important to ensure that the categories are easy to understand and use.
  
  Related Information: 
  The FS-AM Account Management component of SAP also includes features such as contract templates, contract lifecycle management, and contract analytics. These features can be used in conjunction with contract categories to further improve contract management and tracking.