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

residual budget - Overview

• Component: PSM-FM

• Component Name: Funds Management

• Description: The budget not yet used. The residual budget is calculated as part of the closing operations in the fiscal year change, using the following formula: Current budget - Consumed budget - Budget still to be carried forward from the commitment carryforward _____________________________________________ = Residual budget. In reporting, unused budget is also designated as "residual budget".

residual budget - Details

• 
  Key Concepts: 
  Residual budget is a term used in SAP Funds Management (PSM-FM) to refer to the amount of budget that remains after all planned commitments and payments have been made. It is the difference between the total budget and the total amount of commitments and payments. 
  
  How to use it: 
  In SAP Funds Management, residual budget can be used to track the remaining budget for a particular project or activity. This information can be used to make decisions about future commitments and payments. It can also be used to compare actual spending against the original budget. 
  
  Tips & Tricks: 
  When tracking residual budget, it is important to ensure that all commitments and payments are accurately recorded in SAP Funds Management. This will ensure that the residual budget is accurate and up-to-date. 
  
  Related Information: 
  For more information on residual budget in SAP Funds Management, please refer to the official SAP documentation.