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

SAP Term: period-based validity

• Component: FS-PM

• Component Name: Policy Management

• Description: Just like a policy status with event-related validity, a policy status with period-related validity is valid from the effective date until a new policy status is generated. Unlike the policy status with event- related validity, this creates a time interval for the effective date, and the interval start or interval end must correspond to the effective date for the policy status. If unscheduled processing takes place in this time interval, the time interval must be split. The interval start and interval end are documents in the journal entry for the policy status, as for the effective date.

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• Key Concepts: 
  Period-based validity is a feature of the FS-PM Policy Management component of SAP. It allows users to define a period of validity for a policy, such as a start and end date. This ensures that the policy is only valid during the specified period and cannot be used outside of it. 
  
  How to use it: 
  To use period-based validity, users must first create a policy in the FS-PM Policy Management component. Once the policy is created, users can set the period of validity by entering a start and end date. The policy will then only be valid during this period and will not be available outside of it. 
  
  Tips & Tricks: 
  It is important to remember that policies with period-based validity will not be available outside of the specified period. Therefore, it is important to ensure that the start and end dates are set correctly in order to ensure that the policy is available when needed. 
  
  Related Information: 
  For more information on period-based validity in FS-PM Policy Management, please refer to the SAP Help documentation.