What is business record time in SAP FS-LRM - Liquidity and Risk Management?

SAP Term: business record time

• Component: FS-LRM

• Component Name: Liquidity and Risk Management

• Description: The time on which it has been agreed or announced that the master data will be changed. Supplements the business record date.

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• Key Concepts: 
  Business Record Time (BRT) is a feature of the FS-LRM Liquidity and Risk Management component of SAP. It is used to record the time at which a business transaction is initiated, and to track the progress of the transaction over time. This allows for better management of liquidity and risk, as well as improved accuracy in reporting. 
  
  How to use it: 
  Business Record Time can be used to track the progress of a business transaction from initiation to completion. It can be used to monitor liquidity and risk, as well as to provide more accurate reporting. To use BRT, users must first set up a business record time field in their system. This field will then be populated with the time at which the transaction was initiated. As the transaction progresses, the field will be updated with the current time. 
  
  Tips & Tricks: 
  When setting up a business record time field, it is important to ensure that it is properly configured. This includes setting up the correct data type and format for the field, as well as ensuring that it is properly linked to other fields in the system. Additionally, it is important to ensure that all users are aware of how to use BRT correctly, so that they can accurately track transactions over time. 
  
  Related Information: 
  For more information on Business Record Time and how to use it in SAP FS-LRM Liquidity and Risk Management, please refer to SAP's official documentation on the topic. Additionally, there are many online resources available that provide tutorials and tips on using BRT effectively.