Hi,
In SAP commitment Budget is defined as "A standardized framework within a particular area of responsibility for entering commitments that will lead to expenditures or costs in the current year or in subsequent years."
and Payment Budget is defined as "A standardized framework for the forecasted expenditures and revenues or the costs, revenues and investments, that can be expected within a fiscal year and area of responsibility
.From this what i have understood is that if we have different commitment and payment budget system will check commitments from commitment budget for example Commitment budget will be checked at the time of raising Purchase Requisition. While payment budget will be checked by system at the time of actual budget consumption (GR/IR). am i approaching this right? Or does payment budget actually means budget of payments/Receipts of vendors/Customers in FI?