SAP FM ONLINE TRAINING IN AUSTRALIA
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FM Area:
The Funds Management Area is the organizational unit within an organization, used to represent a closed system for funds management, budgeting, and budget execution. The Funds Management Area also contains attributes or settings that impact master data and/or transactions within the FM Area. FM Area is linked to Company Code and Controlling area, which will enable integration with all other organizational units within an enterprise. Funds Management within an Enterprise is controlled through Master Data called (a) Funds Centers and (b) Commitment Items.
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Fund Center:
Funds Center represents the organizational areas of responsibility for budgetary monitoring and reporting. It is linked to Cost Center. Funds Center identifies where in the organization revenue, expense, and budget are managed, reported, and controlled. Budget is assigned to Funds Centers and postings can be controlled against this budget based on the linking of other organizational objects. Funds Center usually represents the lowest levels of the organization where management responsibility exists.
The Fund Centers are prepared on the basis of Cost Centers / Materials. The User Name (SAP User ID) and Name of the person responsible shall be mentioned on the Fund Center master data. The Superior Fund Center is to be mentioned properly for the proper maintenance of the hierarchy of the Fund Centers.
In Fund Management the Fund Center can be derived from the Cost Center / Material. Hierarchies are maintained in the preparation of Fund Center based on the hierarchy of Cost Center / Material.
Commitment Item:
Commitment Item represents budget and fund accounting classification. It is used to reflect the type of revenue and expenditure being budgeted and also to detail b
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