What is 'period budget' in SAP PSM-FM - Funds Management?

period budget - Overview

• Component: PSM-FM

• Component Name: Funds Management

• Description: A budget breakdown during the fiscal year where the time units are smaller than the annual budget. The total of the periods always equals the annual value for an individual fiscal year.

period budget - Details

• 
  Key Concepts: 
  Period budget is a feature of SAP Funds Management (PSM-FM) that allows users to create and manage budgets for specific periods of time. It enables users to plan and control their financial resources in a more efficient manner. The period budget feature allows users to define budget amounts for each period, as well as to monitor and compare actual costs against the budgeted amounts.
  
  How to use it: 
  To use the period budget feature, users must first create a budget plan in the Funds Management module. This plan will define the budget amounts for each period. Once the plan is created, users can enter actual costs against the budgeted amounts. The system will then compare the actual costs against the budgeted amounts and provide a report of any discrepancies.
  
  Tips & Tricks: 
  When creating a period budget, it is important to consider the length of each period. For example, if you are creating a budget for a year, you may want to divide it into monthly or quarterly periods. This will make it easier to track and compare actual costs against the budgeted amounts. Additionally, it is important to consider any changes in costs that may occur during the period, such as inflation or currency fluctuations.
  
  Related Information: 
  For more information on using the period budget feature in SAP Funds Management, please refer to the official