Organisations that now claim costs in FP7 Projects as direct costs must ensure that their books of account and financial reports can support this. In FP6, for a cost to be classed as a potential eligible direct cost, the cost had to have been incurred. This means that the cost had to have been recorded in some way in the books of account. In FP7, the same applies as for FP6. The big difference is that in FP7, the costs have to be shown as direct costs within the organisation’s books of account and financial reports. The Finance Helpdesk has produced a leaflet which explains this.
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