What is account group in SAP PSM-FM - Funds Management?

SAP Term: account group

• Component: PSM-FM

• Component Name: Funds Management

• Description: These represent reporting for the financial balances of general government long-term assets and liabilities for an entity. Memorandum-type entries are necessary to offset these balances, since these financial transactions have been or will be reported separately for the respective funds The General Fixed Assets account group is used to account for all general government fixed assets, with offsetting entries made to an "Investment in General Fixed Assets" account. The General Long-Term Debt Account Group is used to account for all general government long-term liabilities, with offsetting entries made to "Amount Available" and "Amount to be Provided" accounts.

Smart SAP Assistant

• Key Concepts: 
  An account group is a classification of accounts in SAP Funds Management (PSM-FM). It is used to group accounts together based on their purpose or function. Account groups are used to simplify the process of creating and managing accounts in SAP. 
  
  How to use it: 
  Account groups are created in the Funds Management module of SAP. They can be used to group accounts together based on their purpose or function. For example, an account group could be created for accounts related to payroll, accounts related to taxes, or accounts related to investments. Once an account group is created, it can be used to quickly create and manage accounts in SAP. 
  
  Tips & Tricks: 
  When creating an account group, it is important to consider how the accounts will be used and what type of information will need to be tracked. This will help ensure that the account group is set up correctly and that all relevant information can be tracked. 
  
  Related Information: 
  For more information on account groups in SAP Funds Management, please refer to the SAP Help documentation.