What is 'actual volume' in SAP IS-OIL-PRA-REV - Revenue?

actual volume - Overview

• Component: IS-OIL-PRA-REV

• Component Name: Revenue

• Description: Volume that the system retrieves from the Production or Contractual Allocation application components by well or measurement point and contract. It is the volume actually sold as opposed to the entitled volume, which is the amount to which a producer is due.

actual volume - Details

• 
  Key Concepts: 
  Actual volume is a term used in the IS-OIL-PRA-REV Revenue Recognition component of SAP. It is the actual amount of product that has been sold or delivered to a customer. This amount is used to calculate the revenue that is recognized for a particular period. 
  
  How to use it: 
  Actual volume is used to calculate the revenue that is recognized for a particular period. This amount is compared to the forecasted volume and any differences are taken into account when calculating the revenue. The actual volume can be entered manually or imported from an external system. 
  
  Tips & Tricks: 
  When entering the actual volume, make sure to double check the accuracy of the data. Any discrepancies between the actual and forecasted volumes can have an impact on the revenue recognition calculation. 
  
  Related Information: 
  The IS-OIL-PRA-REV Revenue Recognition component of SAP also includes other terms such as forecasted volume, estimated volume, and planned volume. These terms are all related to calculating revenue recognition and should be taken into account when entering data into SAP.