What is planned costs in SAP (CO - Controlling)?

SAP Term: planned costs

• Component: CO

• Component Name: Controlling

• Description: The costs anticipated for a particular undertaking such as an order.

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• Key Concepts: 
  Planned costs are the estimated costs of a project or activity that are used to create a budget. In SAP Controlling (CO), planned costs are used to compare actual costs against the budgeted amount. This comparison helps to identify any discrepancies between the two and can be used to make adjustments to the budget. 
  
  How to use it: 
  In SAP Controlling, planned costs can be entered into the system by creating a cost center or cost element. The cost center is used to group together related activities and the cost element is used to track individual costs. Once the planned costs have been entered, they can be compared against actual costs by running a report in SAP Controlling. 
  
  Tips & Tricks: 
  When entering planned costs into SAP Controlling, it is important to ensure that all relevant information is included. This includes the cost center, cost element, and any other relevant data such as start and end dates for the project or activity. 
  
  Related Information: 
  For more information on planned costs in SAP Controlling, please refer to the official SAP documentation at https://help.sap.com/viewer/product/SAP_CONTROLLING/731/en-US.