What is cover pool in SAP PSM-FM-BU - Budgeting and Availability Control?

SAP Term: cover pool

• Component: PSM-FM-BU

• Component Name: Budgeting and Availability Control

• Description: Grouping of budget structure elements for joint availability control.

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• Key Concepts: 
  Cover Pool is a feature of the Budgeting and Availability Control component of SAP. It is used to manage the availability of funds for budgeting purposes. It allows users to set up a pool of funds that can be used to cover budget overruns or other unexpected expenses. The cover pool can be used to cover any type of expense, including personnel costs, materials, and services. 
  
  How to use it: 
  The cover pool is set up in the Budgeting and Availability Control component of SAP. It is configured by setting up a pool of funds that can be used to cover budget overruns or other unexpected expenses. The cover pool can be used to cover any type of expense, including personnel costs, materials, and services. The cover pool can also be used to transfer funds between different budget categories. 
  
  Tips & Tricks: 
  When setting up the cover pool, it is important to ensure that the funds are sufficient to cover any potential budget overruns or other unexpected expenses. It is also important to ensure that the funds are allocated in a way that will not cause any disruption to the budgeting process. 
  
  Related Information: 
  The Budgeting and Availability Control component of SAP also includes features such as budget planning, budget monitoring, and budget control. These features can be used in conjunction with the cover pool feature to ensure that budgets are managed effectively and efficiently.