What is 'financing preference' in SAP PSM-EC - Expenditure Certification?

financing preference - Overview

• Component: PSM-EC

• Component Name: Expenditure Certification

• Description: A priority that is specified when you assign a financing source. The financing preference dictates the order in which operations are carried out for the different financing sources when you certify expenditures.

financing preference - Details

• 
  Key Concepts: 
  Financing preference is a feature of the SAP PSM-EC Expenditure Certification component that allows users to specify the order in which they would like to use their available funds. This feature allows users to prioritize their spending and ensure that their most important projects are funded first. 
  How to Use It: 
  To use the financing preference feature, users must first create a budget plan in the SAP system. Once the budget plan is created, users can assign a financing preference to each line item in the budget plan. This preference can be set to either “first” or “last”, indicating whether the line item should be funded first or last. 
  
  Tips & Tricks: 
  When setting up a budget plan, it is important to consider the order in which you would like to use your available funds. By assigning a financing preference to each line item, you can ensure that your most important projects are funded first. 
  
  Related Information: 
  For more information on the SAP PSM-EC Expenditure Certification component and its features, please refer to the official SAP documentation.