What is effective date in SAP FS-PM - Policy Management?

SAP Term: effective date

• Component: FS-PM

• Component Name: Policy Management

• Description: Date on which a new business or change become valid.

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• Key Concepts: 
  Effective date is a term used in SAP FS-PM Policy Management. It is the date on which a policy or rule becomes effective and can be used to determine the validity of a policy or rule. It is also used to determine when a policy or rule should be applied. 
  
  How to use it: 
  In SAP FS-PM Policy Management, the effective date is set when creating a policy or rule. This date can be changed at any time, but it must be set before the policy or rule can be used. The effective date is used to determine when a policy or rule should be applied and when it should no longer be applied. 
  
  Tips & Tricks: 
  When setting the effective date for a policy or rule, it is important to consider the timing of when the policy or rule should be applied. For example, if a policy or rule needs to be applied immediately, then the effective date should be set to today’s date. If the policy or rule needs to be applied at a later date, then the effective date should be set accordingly. 
  
  Related Information: 
  The effective date is an important concept in SAP FS-PM Policy Management and is used to determine when a policy or rule should be applied. It is also important to consider other factors such as expiration dates and conditions when creating policies and rules in SAP FS-PM Policy Management.