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commitment item

Explain Commitment item,funds center,fund?what are its applications?

Please can anyone explain in detailed way...in the legacy system.

Who is going to configure this...it it by an Funds Management consultnat or fico consultant.

Regards,

Ramesh

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  • author's profile photo Former Member
    Former Member
    Posted on Mar 31, 2009 at 05:52 AM

    Hi

    Commitemt item means

    for example in FICO u create GL account suppose 123456

    but when u using Fund management ( public sector management) u have to this in Company code global data

    means OBY6

    Fund managemnt basically used for Budget reporting , how the company use atual and plan budget this fiscal year

    so in this case u create commitment item , fund center, fund

    suppsoe u create GL in FI 12345 same GL u create Commitment item 123456 through T.code FMBBC

    suppsoe in cost center accounting u create Cost center ands same in fund accounting u create fund center and fund

    suppsoe in controlling u create cost center 1234 same u create in fund center 1234 through t.code FMSA

    then u define in fund managemnt dervication rule

    FMderiver t.code where u assign

    GL account to Commitment item fund center

    Asset no assign to fund center

    note: when u implemt fund management u assign PO Account assignment field fund center commitmenr item

    if any query revert back

    Regards

    Roobal

    note : when u implement Fund managemt

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  • author's profile photo Former Member
    Former Member
    Posted on Mar 31, 2009 at 05:21 AM

    Ramesh,

    Commitment Item :

    commitment item (FIN-FSCM-CLM-CM)

    An element that represents the functional grouping of expenditures and revenues within a financial management (FM) area.

    commitment item (PSM-FM)

    Funds Management (PSM-FM)

    A budget item that represents individual revenue and expenditure line items within a financial management area.

    Fund

    fund (CRM-FM)

    Funds Management (CRM-FM)

    A container for a budget.

    A fund can have a combination of the following attributes that define its purpose:

    Account

    Account hierarchy node

    Product category

    Product group

    Product

    Territory

    fund (FIN-FSCM-TRM-TM)

    Transaction Manager (FIN-FSCM-TRM-TM)

    A capital investment made collectively by individuals or organizations in order to allow a wider range of investment access than normally feasible for the separate investors, and in order to share the costs of the investment.

    Rgds

    Rajendra

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