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

SAP Term: processing date

• Component: FS-PM

• Component Name: Policy Management

• Description: Date on which processing took place. This date is determined by the system.

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• Key Concepts: 
  Processing date is a term used in SAP FS-PM Policy Management. It is the date on which a policy is processed and the associated transactions are posted. The processing date is used to determine the accounting period in which the transactions are posted. 
  
  How to use it: 
  The processing date can be set manually or automatically. If it is set manually, the user must enter the desired date in the policy document. If it is set automatically, the system will use the current date as the processing date. 
  
  Tips & Tricks: 
  When setting the processing date manually, it is important to ensure that it is within the current accounting period. This will ensure that all transactions associated with the policy are posted correctly. 
  
  Related Information: 
  The processing date is closely related to other terms such as posting date and due date. The posting date is the date on which a transaction is posted to an account, while the due date is the date on which a payment must be made.