What is 'No Basis Established' in SAP LO-AGR-CC - Commodity Contracts, Expenses, Basic Functions?

No Basis Established - Overview

• Component: LO-AGR-CC

• Component Name: Commodity Contracts, Expenses, Basic Functions

• Description: A status indicating that the futures component of a commodity price is determined, but the basis component is not yet established.

No Basis Established - Details

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  Key Concepts: 
  No Basis Established is a term used in the LO-AGR-CC Commodity Contracts, Expenses, Basic Functions component of SAP. It is used to indicate that no basis has been established for a particular contract or expense. This means that the contract or expense has not been assigned a value or rate of exchange. 
  How to Use It: 
  When creating a new contract or expense in the LO-AGR-CC Commodity Contracts, Expenses, Basic Functions component of SAP, you will be prompted to enter a basis. If you do not have a basis to enter, you can select “No Basis Established” from the dropdown menu. This will indicate that no basis has been established for the contract or expense. 
  
  Tips & Tricks: 
  When selecting “No Basis Established” from the dropdown menu, make sure to double check that you have not entered any other values for the contract or expense. If you have entered any other values, they will be overwritten when you select “No Basis Established”. 
  
  Related Information: 
  For more information on No Basis Established and how it is used in the LO-AGR-CC Commodity Contracts, Expenses, Basic Functions component of SAP, please refer to the SAP Help documentation.