What is product control in SAP IS-OIL-PRA-REV - Revenue?

SAP Term: product control

• Component: IS-OIL-PRA-REV

• Component Name: Revenue

• Description: The Product Control application area has two main objectives. The first objective is to generate producer nominations that are submitted either to pipelines directly or to a third-party marketing company. The second objective is to calculate adjusted gross revenue interest percentages that are later used by the Contractual Allocation application area.

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• Key Concepts: 
  Product control is a component of the SAP IS-OIL-PRA-REV Revenue Recognition module. It is used to manage the revenue recognition process for oil and gas companies. This includes tracking and managing the revenue recognition process for contracts, invoices, and other related documents. It also provides a comprehensive view of the revenue recognition process, allowing users to easily identify any discrepancies or issues. 
  
  How to use it: 
  Product control can be used to manage the revenue recognition process for oil and gas companies. It allows users to track and manage contracts, invoices, and other related documents. It also provides a comprehensive view of the revenue recognition process, allowing users to easily identify any discrepancies or issues. Additionally, it can be used to generate reports that provide an overview of the revenue recognition process. 
  
  Tips & Tricks: 
  When using product control, it is important to ensure that all contracts, invoices, and other related documents are accurately tracked and managed. Additionally, it is important to regularly review the reports generated by product control in order to identify any discrepancies or issues that may arise. 
  
  Related Information: 
  For more information on product control and how it can be used to manage the revenue recognition process for oil and gas companies, please refer to SAP’s official documentation on the topic. Additionally, there are many online resources available that provide additional tips and tricks for using product control effectively.