What is historical data in SAP FS-AM - Account Management?

SAP Term: historical data

• Component: FS-AM

• Component Name: Account Management

• Description: The master data and flow data that is no longer used for the current business process. It is used for researching and tracking business-related activities and information in the system that relate to the past. Once the legally prescribed retention periods or the residence time set in the system have past, it can be deleted or archived. &EXAMPLE& Data from deleted standing orders master data Payment items flow data

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• Key Concepts: 
  Historical data in SAP FS-AM Account Management is data that has been collected over a period of time. This data can be used to analyze trends, identify patterns, and make predictions about future performance. Historical data can also be used to compare current performance to past performance. 
  
  How to use it: 
  Historical data in SAP FS-AM Account Management can be used to gain insights into customer behavior, identify areas of improvement, and make informed decisions about future investments. It can also be used to track changes in customer preferences and identify opportunities for growth. 
  
  Tips & Tricks: 
  When using historical data in SAP FS-AM Account Management, it is important to ensure that the data is accurate and up-to-date. Additionally, it is important to consider the context of the data when making decisions. 
  
  Related Information: 
  For more information on historical data in SAP FS-AM Account Management, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and best practices for using historical data in SAP FS-AM Account Management.