What is cover group in SAP PSM-FM-BCS - Budget Control System?

SAP Term: cover group

• Component: PSM-FM-BCS

• Component Name: Budget Control System

• Description: A grouping of a number of budgeting account assignment elements budget addresses which share a common budget and budget consumption values. Cover groups enable the sharing of budget among different areas of a public sector organization and are defined according to the category of cover group manual or automatic specified and the role sender and/or receiver assigned to each member of the cover group.

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• Key Concepts: 
  A cover group is a type of budget control in the Budget Control System (BCS) component of SAP. It is used to group together different budget items and to control the total amount of money that can be spent on those items. The cover group also allows for the budget to be divided into different categories, such as personnel, materials, and services. 
  
  How to use it: 
  To use a cover group, first create a budget plan in the BCS component. Then, create a cover group and assign it to the budget plan. Finally, assign budget items to the cover group and set the total amount of money that can be spent on those items. 
  
  Tips & Tricks: 
  When creating a cover group, it is important to consider how much money should be allocated to each item. This will help ensure that the budget is not overspent. Additionally, it is important to keep track of the budget items that are assigned to each cover group so that they can be monitored and adjusted as needed. 
  
  Related Information: 
  For more information about using cover groups in SAP, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips for using cover groups in SAP.