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

SAP Term: fund group

• Component: PSM-FM

• Component Name: Funds Management

• Description: User-definable set of funds used to meet internal and external accounting and reporting requirements. Funds can be grouped in various ways in order to enable the budgeting, cost allocation, internal financial management, and external financial reporting of funds.

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• Key Concepts: 
  Fund groups are used in Funds Management (FM) to group funds together for reporting and controlling purposes. A fund group is a logical grouping of funds that can be used to define the scope of a report or to limit the funds available for selection in a transaction. 
  
  How to use it: 
  Fund groups are created in the Funds Management component of SAP. They can be used to limit the funds available for selection in a transaction, or to define the scope of a report. For example, if you want to run a report on all funds in a particular fund group, you can select that fund group as the scope of the report. 
  
  Tips & Tricks: 
  When creating fund groups, it is important to consider how they will be used. For example, if you want to limit the funds available for selection in a transaction, you should create a fund group that contains only those funds that are relevant to the transaction. 
  
  Related Information: 
  Funds Management is an important component of SAP and is used to manage and control financial resources. It is closely related to other components such as Controlling (CO) and Financial Accounting (FI).