What is elementary step in SAP FS-BA-PM-AFP - Accounting for Financial Products?

SAP Term: elementary step

• Component: FS-BA-PM-AFP

• Component Name: Accounting for Financial Products

• Description: Definition of an elementary step category. You can use elementary steps to specify a parameter for an elementary step category for a funding method. For example, this can define how a set of market data is derived.

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• Key Concepts: 
  Elementary step is a term used in the Accounting for Financial Products (AFP) component of SAP’s Financial Services Business Application (FS-BA). It is a type of transaction that is used to record the movement of financial products, such as stocks, bonds, and derivatives. It is used to track the changes in the value of these products over time. 
  
  How to use it: 
  In order to use elementary steps in SAP, you must first set up the necessary accounts and transactions in the system. Once this is done, you can then enter the details of each transaction into the system. This includes the date, type of product, quantity, and price. Once all of this information is entered, you can then use elementary steps to track the changes in value over time. 
  
  Tips & Tricks: 
  When using elementary steps in SAP, it is important to ensure that all of the information entered is accurate and up-to-date. This will help ensure that your financial products are accurately tracked and that any changes in value are accurately reflected. Additionally, it is important to keep track of any changes that are made to the accounts or transactions so that they can be easily tracked over time. 
  
  Related Information: 
  For more information on elementary steps in SAP, please refer to the official SAP documentation on Accounting for Financial Products (AFP). Additionally, there are many online resources available that provide tutorials and tips on how to use elementary steps in SAP.