What is functional area group in SAP PSM-FM - Funds Management?

SAP Term: functional area group

• Component: PSM-FM

• Component Name: Funds Management

• Description: A functional area group is a user-definable set of functional areas used to meet internal and external accounting and reporting requirements. Functional areas can be grouped in various ways to make budgeting, cost allocation, internal financial management, and external financial reporting easier.

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• Key Concepts: 
  Functional area group is a component of the Funds Management module in SAP. It is used to group together related functional areas, such as budgeting, accounting, and reporting. This allows users to easily access and manage related information in one place. 
  
  How to use it: 
  Functional area groups are created in the Funds Management module of SAP. To create a functional area group, users must first define the functional areas that will be included in the group. Once the functional areas have been defined, users can then assign them to the functional area group. This will allow users to easily access and manage related information in one place. 
  
  Tips & Tricks: 
  When creating a functional area group, it is important to ensure that all related functional areas are included in the group. This will ensure that all relevant information is easily accessible and manageable. Additionally, it is important to ensure that all functional areas are properly assigned to the group so that users can quickly access the information they need. 
  
  Related Information: 
  For more information on how to use functional area groups in SAP Funds Management, 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 Funds Management.