This activity is used to enable Cost Types which can be used to group Cost Elements based on user preference. Only limited number of cost types are available, you are allowed to give a preferred name to the Cost Type.
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Enabled Cost Types can be connected to Cost Elements available in your Company using Cost Element - Cost Type Mapping page.
Total Cost distribution for each enabled Cost Type will be visualized in Schedule of Work Summary pages based on your Cost Element - Cost Type Mapping.