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

SAP Term: maximum contribution

• Component: PSM-EC

• Component Name: Expenditure Certification

• Description: The maximum amount of a possible contribution, that is, of a sponsor's share of financial aid, which is equal to an expenditure ceiling times a percentage of the contribution rate specified.

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• Key Concepts: 
  Maximum contribution is a feature of the SAP PSM-EC Expenditure Certification module. It allows users to set a maximum amount that can be spent on a particular item or service. This helps to ensure that the budget is not exceeded and that all spending is within the approved limits. 
  
  How to use it: 
  To use the maximum contribution feature, users must first set up a budget for the item or service they wish to purchase. Once the budget has been set, users can then enter the maximum amount they are willing to spend on the item or service. This amount will be used as a reference point when approving or rejecting any expenditure requests related to the item or service. 
  
  Tips & Tricks: 
  When setting up a budget for an item or service, it is important to consider all potential costs associated with it. This will help ensure that the maximum contribution amount is set at an appropriate level and that all spending is within the approved limits. 
  
  Related Information: 
  The SAP PSM-EC Expenditure Certification module also includes features such as budget tracking, approval workflow, and reporting capabilities. These features can help users better manage their budgets and ensure that all spending is within approved limits.