What is budget consumption type in SAP PSM-FIO - Fiori UI for Public Sector Management?

SAP Term: budget consumption type

• Component: PSM-FIO

• Component Name: Fiori UI for Public Sector Management

• Description: Defines how a G/L account is classified for funds management from a budget perspective.

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• Key Concepts: 
  Budget Consumption Type is a feature of the Fiori UI for Public Sector Management (PSM-FIO) component of SAP. It allows users to define the type of budget consumption that will be used when creating budget documents. This feature helps to ensure that budget documents are created in accordance with the organization’s budgeting policies and procedures. 
  
  How to use it: 
  To use the Budget Consumption Type feature, users must first define the types of budget consumption that will be used in their organization. This can be done by navigating to the “Budget Consumption Types” tab in the PSM-FIO Fiori UI. From there, users can create new types of budget consumption or edit existing ones. Once the types have been defined, they can be selected when creating a budget document. 
  
  Tips & Tricks: 
  When defining budget consumption types, it is important to consider how they will be used in practice. For example, if an organization has multiple departments, it may be beneficial to create separate types of budget consumption for each department. This will help ensure that budget documents are created in accordance with each department’s specific policies and procedures. 
  
  Related Information: 
  For more information on the Budget Consumption Type feature of PSM-FIO Fiori UI, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/PSM_FIO/latest/en-US/f2f9a7d8b3e14c8a9f3d7c2b6d5f9e4a.html