What is economical level in SAP PY-IT - Italy?

SAP Term: economical level

• Component: PY-IT

• Component Name: Italy

• Description: In Italian Public Sector companies, it represents the contractual pay scale of the employee, that is, the position the employee was hired to occupy and the pay scale associated to it. It is opposed to the juridical level of the employee.

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• Key Concepts: 
  Economical level is a component of the PY-IT Italy module in SAP. It is used to define the different levels of economic activity that are used to classify and analyze financial data. This includes the different types of income, expenses, and other financial transactions. 
  
  How to use it: 
  The economical level component of PY-IT Italy can be used to create a hierarchical structure for financial data. This structure can be used to classify and analyze financial data in order to gain insights into the performance of a business. The economical level component also allows users to set up different levels of economic activity, such as income, expenses, and other financial transactions. 
  
  Tips & Tricks: 
  When setting up the economical level component of PY-IT Italy, it is important to ensure that all levels are properly defined and that all financial data is accurately classified. This will help ensure that the analysis of financial data is accurate and reliable. Additionally, it is important to regularly review the structure of the economical level component in order to ensure that it is up-to-date and accurate. 
  
  Related Information: 
  The economical level component of PY-IT Italy is closely related to other components such as the cost center component and the profit center component. These components are used to further classify and analyze financial data in order to gain insights into the performance of a business. Additionally, the economical level component can be used in conjunction with other SAP modules such as FI/CO and SD/MM in order to gain a more comprehensive view of a business’s financial performance.