What is budget chapter in SAP PSM-FM - Funds Management?

SAP Term: budget chapter

• Component: PSM-FM

• Component Name: Funds Management

• Description: A group of commitment items in the federal budget that relate to a particular type of expense or revenue for example, salaries and wages, current expenses, and operating expenses. Budget chapters are used for budget preparation and reporting in United Arab Emirates, Saudi Arabia, Qatar, and Kuwait. For example, in United Arab Emirates, when you allocate planned budget to a program during the budget preparation process, you must also assign the planned budget to the relevant budget chapter.

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• Key Concepts: 
  A budget chapter is a component of the Funds Management module in SAP. It is used to define the budget structure for an organization and to control the budgeting process. It is a hierarchical structure that consists of budget items, budget categories, and budget chapters. Each budget chapter is assigned a unique number and can be used to group related budget items together. 
  
  How to use it: 
  Budget chapters are used to define the budget structure for an organization. They are created in the Funds Management module and can be assigned a unique number. Once created, they can be used to group related budget items together. This allows for easier tracking and reporting of budget information. 
  
  Tips & Tricks: 
  When creating a budget chapter, it is important to ensure that the number assigned is unique and does not conflict with any other existing numbers. This will help ensure that the budget structure remains organized and easy to manage. Additionally, it is important to ensure that all related budget items are grouped together in the same chapter. This will make it easier to track and report on the budget information. 
  
  Related Information: 
  For more information on how to use the Funds Management module in SAP, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed tutorials on how to use this module.