What is fund recovery in SAP PSM-GM - Grants Management?

SAP Term: fund recovery

• Component: PSM-GM

• Component Name: Grants Management

• Description: The process of getting reimbursed for indirect costs from the sponsor.

Smart SAP Assistant

• Key Concepts: 
  Fund recovery is a process in SAP Grants Management (PSM-GM) that allows organizations to recover funds from grant recipients. This process is used when a grant recipient has not met the terms of the grant agreement or has not fulfilled their obligations. The organization can then reclaim the funds from the recipient and use them for other purposes. 
  
  How to use it: 
  In order to use fund recovery in SAP Grants Management, the organization must first create a fund recovery request. This request should include details about the grant recipient, the amount of funds to be recovered, and any other relevant information. Once the request is created, it must be approved by an authorized user before it can be processed. Once approved, the organization can then initiate the fund recovery process and reclaim the funds from the recipient. 
  
  Tips & Tricks: 
  When creating a fund recovery request, it is important to provide as much detail as possible. This will help ensure that the process runs smoothly and that all necessary information is included in the request. Additionally, it is important to ensure that all relevant documents are included in the request, such as proof of non-compliance or other evidence of wrongdoing. 
  
  Related Information: 
  For more information on fund recovery in SAP Grants Management, please refer to the official SAP documentation. Additionally, there are several online resources available that provide detailed instructions on how to use this feature in SAP Grants Management.