What is tolerance schedule in SAP LO-AGR-CC - Commodity Contracts, Expenses, Basic Functions?

SAP Term: tolerance schedule

• Component: LO-AGR-CC

• Component Name: Commodity Contracts, Expenses, Basic Functions

• Description: A schedule that defines the quantity above and below the contracted or delivery quantity depending on the Tolerance Type that may be applied towards fulfillment of the contract. It enables the counterparties to define the terms for managing overfill and underfill delivery quantities.

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• Key Concepts: 
  Tolerance schedule is a feature of the LO-AGR-CC Commodity Contracts, Expenses, Basic Functions component of SAP. It allows users to define a range of acceptable values for a given field or parameter. This range is known as the tolerance schedule and can be used to ensure that data entered into the system is within the acceptable range. 
  
  How to use it: 
  To use the tolerance schedule, users must first define the acceptable range for a given field or parameter. This can be done by entering the minimum and maximum values for the field or parameter. Once this is done, any data entered into the system that falls outside of this range will be flagged as an error. 
  
  Tips & Tricks: 
  When setting up a tolerance schedule, it is important to consider what type of data will be entered into the system. For example, if you are setting up a tolerance schedule for a numerical field, you may want to set a wider range than if you were setting up a tolerance schedule for a text field. Additionally, it is important to consider how often the data will be updated and whether or not it needs to be monitored on an ongoing basis. 
  
  Related Information: 
  The tolerance schedule feature is part of SAP's LO-AGR-CC Commodity Contracts, Expenses, Basic Functions component. This component also includes features such as contract management, expense management, and basic functions such as currency conversion and tax calculation. Additionally, SAP provides comprehensive documentation on how to use this component and its features.