How to disable Peoplesoft Project Costing?

Hi, we are no longer wanting to use Peoplesoft Project Costing module.  My understanding is that you can simply go into Installation Options and uncheck the box for Project Costing, the way you would uncheck those you are not licensed for using.  I am also of the understanding that since Project ID is a chartfield, we can continue using that field, despite not using Project Costing.  Is there anything else I am missing?  Surely, it can't be as simple as a checkbox.  Would you run the chartfield configuration process to inactivate chartfields used by that specific product, project costing, such