What is time model in SAP FS-PM - Policy Management?

SAP Term: time model

• Component: FS-PM

• Component Name: Policy Management

• Description: A mechanism to control scheduled and future-dated unscheduled processing for a contract or policy. Processing is executed by the functions of the time model or Business Transaction Scheduler BTS. A differentiation is made between the contract time model and the policy time model, depending on the level of processing.

Smart SAP Assistant

• Key Concepts: 
  Time model is a feature of the FS-PM Policy Management component of SAP. It is used to define the time intervals in which a policy can be applied. It allows users to define the start and end dates for a policy, as well as the frequency of its application. This helps to ensure that policies are applied consistently and accurately. 
  
  How to use it: 
  To use the time model feature, users must first create a policy in the FS-PM Policy Management component. Once the policy has been created, users can then define the time intervals in which it should be applied. This can be done by setting the start and end dates for the policy, as well as the frequency of its application. 
  
  Tips & Tricks: 
  When setting up a time model for a policy, it is important to ensure that all of the necessary information is included. This includes setting the start and end dates for the policy, as well as its frequency of application. Additionally, it is important to ensure that all of the necessary information is accurate and up-to-date. 
  
  Related Information: 
  For more information on using the time model feature in FS-PM Policy Management, please refer to SAP’s official documentation on the topic. Additionally, there are many online resources available that provide detailed instructions on how to use this feature.