What is classification in SAP FS-FPS - Financial Products Subledger?

SAP Term: classification

• Component: FS-FPS

• Component Name: Financial Products Subledger

• Description: An assignment that categorizes a financial product according to accounting principle for balance sheet reporting purposes.

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• Key Concepts: 
  Classification in the FS-FPS Financial Products Subledger is the process of assigning a specific category to a financial product. This categorization helps to organize and track financial products, as well as to provide a basis for reporting and analysis. 
  
  How to use it: 
  In the FS-FPS Financial Products Subledger, classification is done by assigning a specific category to each financial product. This can be done manually or automatically, depending on the system configuration. The categories can be based on various criteria such as product type, risk level, or maturity date. 
  
  Tips & Tricks: 
  When classifying financial products in the FS-FPS Financial Products Subledger, it is important to ensure that the categories are consistent and up-to-date. This will help ensure that the data is accurate and reliable for reporting and analysis purposes. 
  
  Related Information: 
  For more information about classification in the FS-FPS Financial Products Subledger, please refer to the SAP Help documentation.