What is account assignment item in SAP PSM-FM - Funds Management?

SAP Term: account assignment item

• Component: PSM-FM

• Component Name: Funds Management

• Description: The lowest level in a commitment item hierarchy. To define a commitment item hierarchy, account assignment items are grouped under various summarization items. Budgeting takes place in the account assignment items and postings are made in the feeder systems Financial Accounting, Materials Management.

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• Key Concepts: 
  Account assignment item is a component of the Funds Management module in SAP. It is used to assign a specific account to a particular item in an order or contract. This allows for more accurate tracking of costs and revenues associated with the item. 
  
  How to use it: 
  Account assignment items are created in the Funds Management module. They are linked to a specific account and can be used to track costs and revenues associated with the item. The account assignment item can be used to assign a specific account to an item in an order or contract. This allows for more accurate tracking of costs and revenues associated with the item. 
  
  Tips & Tricks: 
  When creating an account assignment item, it is important to ensure that the correct account is assigned to the item. This will ensure that all costs and revenues associated with the item are accurately tracked. Additionally, it is important to ensure that all relevant information is included when creating an account assignment item, such as the cost center, order number, and other relevant information. 
  
  Related Information: 
  For more information on how to use account assignment items in SAP, please refer to the SAP Help documentation. Additionally, there are many online resources available that provide detailed instructions on how to use this feature in SAP.