What is update profile in SAP PSM-FM - Funds Management?

SAP Term: update profile

• Component: PSM-FM

• Component Name: Funds Management

• Description: A summary of parameters that control the update of commitment data and actual data in . Update profiles support system configuration as a result of the business and executable features they contain for the controlling if updates. Via the update profile, for example, you can define whether a purchase requisition consumes budget or not statistical postings.

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• Key Concepts: 
  Update profile is a feature in SAP Funds Management (PSM-FM) that allows users to make changes to existing profiles. It enables users to modify the settings of existing profiles, such as the budget, the period of validity, and the type of profile. This feature is useful for making quick changes to existing profiles without having to create a new one. 
  
  How to use it: 
  To use the update profile feature in SAP Funds Management, first select the profile you want to modify. Then, select the “Update Profile” option from the menu. This will open a window where you can make changes to the profile settings. Once you have made your changes, click “Save” to save them. 
  
  Tips & Tricks: 
  When using the update profile feature, it is important to remember that any changes you make will be applied immediately. Therefore, it is important to double-check your changes before saving them. Additionally, if you need to make multiple changes at once, it may be more efficient to create a new profile instead of using the update profile feature. 
  
  Related Information: 
  For more information on how to use the update profile feature in SAP Funds Management, please refer to the official SAP documentation. Additionally, there are many online tutorials and videos available that provide step-by-step instructions on how to use this feature.