What is general costs activity in SAP PS - Project System?

SAP Term: general costs activity

• Component: PS

• Component Name: Project System

• Description: An activity in the network in which costs incurred during the life of the network are planned. Examples of costs include travel expenses, insurance premiums, consultancy fees, and royalties.

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• Key Concepts: 
  General costs activity is a type of cost element in the SAP Project System (PS) component. It is used to record costs that are not directly related to a specific project, such as overhead costs, administrative costs, and other general expenses. It is also used to record costs that are not associated with any particular cost object, such as personnel costs or travel expenses. 
  
  How to use it: 
  General costs activity can be used in the PS component to record and track general expenses. It can be used to track overhead costs, administrative costs, personnel costs, and other general expenses. The cost element can be assigned to a project or cost object in order to track the expenses associated with it. 
  
  Tips & Tricks: 
  When using the general costs activity cost element, it is important to ensure that all expenses are accurately recorded and tracked. This will help ensure that all expenses are accounted for and that the project or cost object is accurately represented in the system. 
  
  Related Information: 
  The general costs activity cost element is part of the SAP Project System (PS) component. Other cost elements in the PS component include material costs, external services, and personnel costs. The PS component also includes features such as budgeting, resource planning, and project tracking.