What is formula master record in SAP IS-OIL-DS-MAP - Marketing, Accounting and Pricing?

SAP Term: formula master record

• Component: IS-OIL-DS-MAP

• Component Name: Marketing, Accounting and Pricing

• Description: A formula master record is used to store formulas. Each formula has a formula ID. The formula master contains the following predefined search fields: customer, material, plant, material group and vendor.

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• Key Concepts: 
  A Formula Master Record is a component of the IS-OIL-DS-MAP Marketing, Accounting and Pricing module in SAP. It is used to define the pricing formula for a particular product or service. The formula master record contains information such as the pricing formula, the pricing conditions, and the pricing elements that are used to calculate the price of a product or service. 
  
  How to use it: 
  To use a Formula Master Record, you must first create one in SAP. This can be done by navigating to the IS-OIL-DS-MAP Marketing, Accounting and Pricing module and selecting “Create Formula Master Record” from the menu. Once you have created the record, you can enter the pricing formula, pricing conditions, and pricing elements that will be used to calculate the price of a product or service. 
  
  Tips & Tricks: 
  When creating a Formula Master Record, it is important to ensure that all of the information is accurate and up-to-date. This will ensure that the pricing formula is accurate and that customers are not overcharged for products or services. Additionally, it is important to review the Formula Master Record periodically to ensure that it is still accurate and up-to-date. 
  
  Related Information: 
  For more information on Formula Master Records in SAP, please refer to the SAP Help documentation at https://help.sap.com/doc/saphelp_erp60_sp/6.0/en-US/f3/f3f9a8d7e411d189700000e8322d00/content.htm?no_cache=true