What is 'eligible costs' in SAP PSM-GM - Grants Management?

eligible costs - Overview

• Component: PSM-GM

• Component Name: Grants Management

• Description: Amounts expended for sponsored program activities that can be funded from sponsored funds. Eligibility is determined according to rules defined by the grantor.

eligible costs - Details

• 
  Key Concepts: 
  Eligible costs are the costs that are allowed to be charged to a grant or contract. These costs must be reasonable, allocable, and allowable in accordance with the terms and conditions of the grant or contract. In SAP Grants Management (PSM-GM), eligible costs are defined in the cost categories and cost elements. 
  
  How to use it: 
  In SAP Grants Management, eligible costs are defined in the cost categories and cost elements. Cost categories are used to group similar costs together, while cost elements are used to define specific types of costs. When creating a budget for a grant or contract, users must select the appropriate cost categories and cost elements that are eligible for the grant or contract. 
  
  Tips & Tricks: 
  When creating a budget for a grant or contract, it is important to ensure that all eligible costs are included in the budget. This will help ensure that all costs associated with the grant or contract are accounted for and that no ineligible costs are charged to the grant or contract. 
  
  Related Information: 
  For more information on eligible costs in SAP Grants Management, please refer to the SAP Help Portal at https://help.sap.com/viewer/product/SAP_GRANTS_MANAGEMENT/latest/en-US.