What is summarization item in SAP PSM-FM - Funds Management?

SAP Term: summarization item

• Component: PSM-FM

• Component Name: Funds Management

• Description: The component of a commitment item hierarchy. To create a commitment item hierarchy, you group account assignment items at different user-defined summarization levels. A summarization item can have account assignment items or other summarization items as its successors. Summarization items are budgeted in . They cannot, however, be posted to in other components for example, Financial Accounting or Materials Management.

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• Key Concepts: 
  Summarization items are used in Funds Management (FM) to group and summarize financial data. They are used to create a hierarchy of data, allowing users to view the data in different levels of detail. Summarization items can be used to group data by cost center, fund, or other criteria. 
  
  How to use it: 
  Summarization items are created in the Funds Management module of SAP. They can be used to group and summarize financial data, such as budget amounts, commitments, and actuals. Summarization items can be used to create a hierarchy of data, allowing users to view the data in different levels of detail. 
  
  Tips & Tricks: 
  When creating summarization items, it is important to consider how the data will be used. For example, if the data will be used for reporting purposes, it may be beneficial to create summarization items that group data by cost center or fund. 
  
  Related Information: 
  For more information on summarization items in Funds Management, please refer to the SAP Help documentation.