What is master policy in SAP FS-PM - Policy Management?

SAP Term: master policy

• Component: FS-PM

• Component Name: Policy Management

• Description: Policy that packages or groups individual policies. The properties and values for a master policy are copied to the assigned policies, dependent on the master policy type.

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• Key Concepts: 
  A master policy is a template used in SAP FS-PM Policy Management that defines the rules and parameters for a policy. It is used to create multiple policies with the same structure and parameters. The master policy can be used to define the policy type, the policy period, the policy conditions, and the policy benefits. 
  
  How to use it: 
  To create a master policy, go to the FS-PM Policy Management module in SAP. Select “Create Master Policy” from the menu. Enter the details of the policy such as the type, period, conditions, and benefits. Once you have saved the master policy, you can use it to create multiple policies with the same structure and parameters. 
  
  Tips & Tricks: 
  When creating a master policy, make sure to include all of the necessary details such as the type, period, conditions, and benefits. This will ensure that all of your policies have consistent structure and parameters. 
  
  Related Information: 
  For more information on creating master policies in SAP FS-PM Policy Management, please refer to SAP’s official documentation here: https://help.sap.com/viewer/product/FS-PM/latest/en-US/f9f8d7a2b3e14c8a9f3d7c6b2f5e4d1a.html