What is contribution in SAP PSM-EC - Expenditure Certification?

SAP Term: contribution

• Component: PSM-EC

• Component Name: Expenditure Certification

• Description: The sponsor's share of financial aid to an organization. The sponsor pays all or part of the eligible expenditures. The contribution is entered or displayed using the corresponding currency.

Smart SAP Assistant

• Key Concepts: 
  Contribution is a term used in the SAP PSM-EC Expenditure Certification component. It is a type of payment made by an organization to another organization or individual for a specific purpose. The purpose of the contribution can vary, but it is typically used to support a project or initiative. Contributions are typically made in the form of cash, goods, or services. 
  
  How to use it: 
  In the SAP PSM-EC Expenditure Certification component, contributions are used to track payments made by an organization to another organization or individual for a specific purpose. The purpose of the contribution must be specified when it is entered into the system. The system will then track the contribution and its associated expenses. 
  
  Tips & Tricks: 
  When entering contributions into the SAP PSM-EC Expenditure Certification component, it is important to ensure that all relevant information is included. This includes the purpose of the contribution, the amount of the contribution, and any associated expenses. This will ensure that all contributions are tracked accurately and that any associated expenses can be easily identified. 
  
  Related Information: 
  The SAP PSM-EC Expenditure Certification component also allows organizations to track other types of payments, such as grants and donations. It is important to note that these payments are tracked differently than contributions and should be entered into the system accordingly. Additionally, organizations should ensure that all payments are properly documented and accounted for in order to comply with applicable laws and regulations.