What is 'canceled' in SAP PSM-GM - Grants Management?

canceled - Overview

• Component: PSM-GM

• Component Name: Grants Management

• Description: A grant is considered "canceled" when the potential grantee decides not to proceed with the grant application. Since there is no facility for deleting grant applications from the system, such applications are simply given this status instead.

canceled - Details

• 
  Key Concepts: 
  Canceled is a status in the Grants Management component of SAP PSM-GM. It indicates that a grant has been terminated and is no longer active. This status is used to indicate that the grant has been closed and no further action is required. 
  
  How to use it: 
  In order to cancel a grant, the user must first select the grant in the Grants Management component of SAP PSM-GM. Then, they must select the “Cancel” option from the menu. This will change the status of the grant to “Canceled” and it will no longer be active. 
  
  Tips & Tricks: 
  When canceling a grant, it is important to ensure that all associated documents and records are updated accordingly. This includes any financial records, contracts, or other documents related to the grant. 
  
  Related Information: 
  For more information on using the Grants Management component of SAP PSM-GM, please refer to the official SAP documentation.