What is 'validity period' in SAP PA-PM - Budget Management?

validity period - Overview

• Component: PA-PM

• Component Name: Budget Management

• Description: The validity period of budget structure elements and budget rules that does not depend on the financial year.

validity period - Details

• 
  Key Concepts: 
  Validity period is a feature of the SAP PA-PM Budget Management component that allows users to set a specific time frame for budget plans and budget allocations. This time frame can be used to limit the validity of budget plans and allocations to a certain period of time, such as a fiscal year or a quarter. 
  
  How to use it: 
  To use the validity period feature, users must first create a budget plan and allocate it to the desired cost centers. Once the budget plan is created, users can set the validity period by selecting the “Validity Period” option in the budget plan settings. From there, users can specify the start and end dates for the validity period. 
  
  Tips & Tricks: 
  When setting up a validity period, it is important to ensure that the start and end dates are accurate. If the start date is too early or the end date is too late, it could result in incorrect budget allocations or incorrect reporting. 
  
  Related Information: 
  For more information on using the validity period feature in SAP PA-PM Budget Management, please refer to SAP Help documentation.