What is cost category in SAP PS - Project System?

SAP Term: cost category

• Component: PS

• Component Name: Project System

• Description: -

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• Key Concepts: 
  Cost category is a term used in the SAP Project System (PS) component. It is a way of classifying costs associated with a project. Cost categories are used to group costs into categories such as labor, materials, and overhead. This allows for better tracking and analysis of project costs. 
  
  How to use it: 
  In SAP PS, cost categories are used to assign costs to a project. When creating a project, the user can assign cost categories to each cost element. This allows for better tracking and analysis of project costs. The user can also create custom cost categories to better suit their needs. 
  
  Tips & Tricks: 
  When creating cost categories, it is important to consider how they will be used in the future. It is also important to ensure that the cost categories are consistent across all projects. This will make it easier to compare and analyze project costs. 
  
  Related Information: 
  For more information on cost categories in SAP PS, please refer to the SAP Help Portal or contact your local SAP consultant.