What is funding category in SAP PSM-EC - Expenditure Certification?

SAP Term: funding category

• Component: PSM-EC

• Component Name: Expenditure Certification

• Description: Attribute of the financing source, used to classify the origin of funding and aggregate the funding data, for example, for private funding, bank funding, public funding.

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• Key Concepts: 
  Funding Category is a term used in the SAP PSM-EC Expenditure Certification component. It is a way of categorizing and organizing expenses for a particular project or activity. It is used to track and monitor the budget of a project or activity, and to ensure that all expenses are accounted for. 
  
  How to use it: 
  Funding Categories are created in the SAP system by an administrator. They are assigned to a project or activity, and all expenses related to that project or activity must be assigned to the appropriate Funding Category. This allows for easy tracking and monitoring of expenses, as well as ensuring that all expenses are accounted for. 
  
  Tips & Tricks: 
  When creating Funding Categories, it is important to ensure that they are descriptive and easy to understand. This will make it easier for users to assign expenses to the correct category. Additionally, it is important to ensure that all Funding Categories are properly maintained and updated as needed. 
  
  Related Information: 
  For more information on Funding Categories in SAP PSM-EC Expenditure Certification, please refer to the SAP Help documentation.