What is 'time reference' in SAP FS-PM - Policy Management?

time reference - Overview

• Component: FS-PM

• Component Name: Policy Management

• Description: The time-related aspect of a reported value that is relevant for data entry or settlement purposes. It is either related to the insurance year or the settlement period.

time reference - Details

• 
  Key Concepts: 
  Time reference is a feature of the FS-PM Policy Management component of SAP. It allows users to define a time period for a policy, such as a fiscal year or a specific date range. This allows users to easily track and manage policies over time. 
  
  How to use it: 
  To use the time reference feature, users must first define the policy they wish to track. This can be done by creating a new policy or editing an existing one. Once the policy is defined, users can then set the time reference for the policy. This can be done by selecting a fiscal year or entering a specific date range. 
  
  Tips & Tricks: 
  When setting the time reference for a policy, it is important to ensure that the dates are accurate and up-to-date. This will ensure that the policy is tracked correctly over time. Additionally, it is important to note that policies can be set to expire after a certain period of time, so it is important to keep track of when policies are set to expire. 
  
  Related Information: 
  For more information on using the time reference feature in FS-PM Policy Management, please refer to the SAP Help documentation. Additionally, there are many online resources available that provide detailed instructions on how to use this feature.