What is time slice in SAP PSM-GM - Grants Management?

SAP Term: time slice

• Component: PSM-GM

• Component Name: Grants Management

• Description: Device in by which the fiscal year of an organization receiving funds is matched with the different fiscal year of the organization donating the funds. Example: The XYZ company, whose fiscal year runs from January 1 to December 31, donates funds to ABC University, which has a fiscal year running from April 1 to March 31. In this case, the sponsor would create two time slices - one running from April 1 to December 31 and a second running from January 1 to March 31. The split is based on a splitting rule, entered in the sponsor master data.

Smart SAP Assistant

• Key Concepts: 
  Time slice is a feature of the SAP PSM-GM Grants Management component that allows users to divide their grant budget into multiple time periods. This allows users to better manage their grant budget and ensure that funds are allocated appropriately. 
  
  How to use it: 
  To use the time slice feature, users must first create a budget plan for their grant. This plan should include the total amount of funds available, as well as the time periods in which those funds should be allocated. Once the budget plan is created, users can then divide the total amount of funds into multiple time slices. Each time slice will represent a portion of the total budget and can be used to track and manage spending for that particular period. 
  
  Tips & Tricks: 
  When creating a budget plan, it is important to consider the specific needs of the grant and allocate funds accordingly. Additionally, it is important to ensure that each time slice is properly allocated so that funds are not overspent or underutilized. 
  
  Related Information: 
  For more information on how to use the time slice feature in SAP PSM-GM Grants Management, please refer to the official SAP documentation. Additionally, there are many online resources available that provide helpful tips and tricks for managing grant budgets with SAP PSM-GM Grants Management.