What is defining characteristic in SAP FS-BA-PM-AFP - Accounting for Financial Products?

SAP Term: defining characteristic

• Component: FS-BA-PM-AFP

• Component Name: Accounting for Financial Products

• Description: Key field for all financial positions in a financial position class. The system differentiates the following defining characteristics: defining characteristics at the master data level defining characteristics at the valuation level

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• Key Concepts: 
  Defining characteristics are used in the FS-BA-PM-AFP Accounting for Financial Products component of SAP to define the characteristics of a financial product. These characteristics include the type of product, its maturity date, and other relevant information. This information is used to determine how the product should be accounted for in the system. 
  
  How to use it: 
  In order to use defining characteristics in SAP, users must first create a financial product in the system. Once the product is created, users can then enter the defining characteristics for that product. This information can be entered manually or imported from an external source. Once the defining characteristics are entered, they can be used to determine how the product should be accounted for in SAP. 
  
  Tips & Tricks: 
  When entering defining characteristics for a financial product in SAP, it is important to ensure that all of the information is accurate and up-to-date. This will help ensure that the product is accounted for correctly in the system. Additionally, it is important to keep track of any changes that are made to the defining characteristics over time, as this can affect how the product is accounted for. 
  
  Related Information: 
  For more information on defining characteristics and how they are used in SAP, please refer to the official SAP documentation on FS-BA-PM-AFP Accounting for Financial Products. Additionally, there are many online resources available that provide detailed tutorials and examples of how to use defining characteristics in SAP.