What is price key date in SAP IS-U-FPC - Formula-Based Price Calculation?

SAP Term: price key date

• Component: IS-U-FPC

• Component Name: Formula-Based Price Calculation

• Description: The date on which a price is defined for a certain delivery period.

Smart SAP Assistant

• Key Concepts: 
  Price key date is a component of the IS-U-FPC Formula-Based Price Calculation in SAP. It is used to determine the price of a product or service based on the date of the transaction. The price key date is used to determine which pricing formula should be applied to the transaction. 
  
  How to use it: 
  The price key date is set up in the pricing formula and can be used to determine the applicable pricing formula for a given transaction. The price key date can be set up as either a fixed date or a relative date. A fixed date is a specific date that will always be used for pricing, while a relative date is based on the current system date. 
  
  Tips & Tricks: 
  When setting up the price key date, it is important to consider how often prices may change and how often transactions occur. This will help ensure that the correct pricing formula is applied to each transaction. Additionally, it is important to ensure that all pricing formulas are up-to-date and accurate. 
  
  Related Information: 
  For more information on setting up and using the price key date in SAP, please refer to the SAP Help documentation. Additionally, there are many online resources available that provide detailed instructions on how to use this feature in SAP.