What is proprietary fund in SAP PSM - Public Sector Management?

SAP Term: proprietary fund

• Component: PSM

• Component Name: Public Sector Management

• Description: Proprietary funds are used to account for all continuing business-type organizations, activities, and related financial resources. These funds are accounted for on a full accrual basis of accounting.

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• Key Concepts: 
  A proprietary fund is a type of fund in SAP Public Sector Management (PSM) that is used to manage the financial resources of a public sector organization. It is a special type of fund that is owned by the organization and is used to track and manage the organization's financial resources. 
  
  How to use it: 
  In SAP PSM, proprietary funds are used to track and manage the financial resources of an organization. They are used to record transactions, such as budget allocations, expenditures, and revenue. They can also be used to track the performance of an organization's investments. 
  
  Tips & Tricks: 
  When setting up a proprietary fund in SAP PSM, it is important to ensure that all relevant information is included in the setup. This includes the fund's purpose, budget, and any restrictions or limitations that may apply. Additionally, it is important to ensure that all transactions are properly recorded and tracked in the fund. 
  
  Related Information: 
  In addition to proprietary funds, SAP PSM also offers other types of funds, such as grant funds and trust funds. These funds can be used to manage different types of financial resources for an organization. Additionally, SAP PSM offers a variety of reporting tools that can be used to analyze and track the performance of an organization's financial resources.