What is date-based validity in SAP FS-PM - Policy Management?

SAP Term: date-based validity

• Component: FS-PM

• Component Name: Policy Management

• Description: A policy status with date-based validity is valid from the effective date until a new policy status is created. Unlike period-related validity, no time interval is created. This means that the interval start and interval end attributes in the journal entry, which describe the time interval, are identical to the effective date for the journal entry.

Smart SAP Assistant

• Key Concepts: 
  Date-based validity is a feature of the FS-PM Policy Management component of SAP. It allows users to define the validity period of a policy by setting a start and end date. This ensures that the policy is only valid within the specified time frame. 
  
  How to use it: 
  To use date-based validity, users must first create a policy in the FS-PM Policy Management component. Once the policy is created, users can set the start and end dates for the policy's validity period. This can be done by selecting the “Validity” tab in the policy editor and entering the desired dates. 
  
  Tips & Tricks: 
  When setting the start and end dates for a policy's validity period, it is important to ensure that they are accurate. If the dates are incorrect, then the policy may not be valid when it should be or may be valid when it should not be. 
  
  Related Information: 
  For more information on date-based validity in FS-PM Policy Management, please refer to SAP's official documentation on the topic.