What is generation in SAP FS-PM - Policy Management?

SAP Term: generation

• Component: FS-PM

• Component Name: Policy Management

• Description: Component of a time-dependent product module. The generation for a product module is determined by the contract start date. It must contain at least one adjustment level. However, most generations contain multiple adjustment levels. The valid adjustment level is defined by the processing date within a generation. Concrete product data is always defined for an adjustment level.

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• Key Concepts: 
  Generation in FS-PM Policy Management is a term used to describe the version of a policy that is currently active. It is the most up-to-date version of the policy and is used to ensure that all users are working with the same set of rules and regulations. 
  
  How to use it: 
  Generation in FS-PM Policy Management can be used to ensure that all users are working with the same set of rules and regulations. To use it, administrators must create a new generation of a policy whenever changes are made. This will ensure that all users are working with the most up-to-date version of the policy. 
  
  Tips & Tricks: 
  When creating a new generation of a policy, it is important to make sure that all users are aware of the changes. This can be done by sending out notifications or emails to all users informing them of the changes. Additionally, administrators should also make sure to keep track of all generations so that they can easily refer back to them if needed. 
  
  Related Information: 
  For more information on generation in FS-PM Policy Management, please refer to SAP’s official documentation on the topic. Additionally, there are many online resources available that provide further information and tips on how to use this feature effectively.