What is global limit check in SAP FS-MCM - Master Contract Management?

SAP Term: global limit check

• Component: FS-MCM

• Component Name: Master Contract Management

• Description: A check that compares the utilization with the global limit of a master contract.The global limit check consists of two independent checks: Check of nominal utilization against a global limit Check of effective utilization against a global limit

Smart SAP Assistant

• Key Concepts: 
  Global limit check is a feature of SAP FS-MCM Master Contract Management that allows users to set limits on the total amount of money that can be spent on a contract. This helps to ensure that the contract does not exceed its budget and helps to prevent overspending. 
  
  How to use it: 
  To use the global limit check feature, users must first set up a limit for the contract. This can be done by entering the maximum amount of money that can be spent on the contract in the “Global Limit” field. Once this is done, the system will automatically check for any transactions that exceed this limit and alert the user if any are found. 
  
  Tips & Tricks: 
  It is important to remember that the global limit check feature only applies to transactions that are made within the contract. Any transactions made outside of the contract will not be checked against the limit. Additionally, it is important to keep track of any changes made to the limit as these will affect how much money can be spent on the contract. 
  
  Related Information: 
  For more information about global limit check, please refer to SAP’s documentation on FS-MCM Master Contract Management. Additionally, there are many online resources available that provide tips and tricks for using this feature effectively.