What is base year in SAP IS-U-FPC - Formula-Based Price Calculation?

SAP Term: base year

• Component: IS-U-FPC

• Component Name: Formula-Based Price Calculation

• Description: A parameter that is used to determine the starting point for price calculations. The inherited day offset defines the time at which the day starts.

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• Key Concepts: 
  Base year is a term used in SAP IS-U-FPC Formula-Based Price Calculation. It is the year in which the price calculation is based on. The base year is used to determine the price of a product or service for a given period of time. The base year can be changed at any time, allowing for more accurate pricing calculations.
  
  How to use it: 
  In order to use the base year in SAP IS-U-FPC Formula-Based Price Calculation, you must first set the base year in the system. This can be done by navigating to the “Price Calculation” tab in the system and selecting “Base Year” from the dropdown menu. Once you have selected the desired base year, you can then use it to calculate prices for products or services for a given period of time.
  
  Tips & Tricks: 
  It is important to remember that the base year should be updated regularly in order to ensure that pricing calculations are accurate. Additionally, it is important to consider any external factors that may affect pricing when selecting a base year, such as inflation or market trends.
  
  Related Information: 
  For more information on SAP IS-U-FPC Formula-Based Price Calculation and how to use the base year, please refer to SAP’s official documentation on the topic. Additionally, there are many online resources available that provide detailed tutorials and explanations of how to use this feature in SAP.