What is settlement diversity in SAP IS-OIL-PRA-REV - Revenue?

SAP Term: settlement diversity

• Component: IS-OIL-PRA-REV

• Component Name: Revenue

• Description: When a royalty owner has negotiated a formula calculation that is different than the calculation for other owners.

Smart SAP Assistant

• Key Concepts: 
  Settlement diversity is a feature of the IS-OIL-PRA-REV Revenue Recognition component of SAP. It allows for the recognition of revenue from different sources, such as sales, services, and other activities. This feature helps to ensure that revenue is accurately recognized and reported. 
  
  How to use it: 
  To use settlement diversity, you must first set up the relevant accounts in the system. This includes setting up accounts for each type of revenue source, such as sales, services, and other activities. Once these accounts are set up, you can then enter the relevant data into the system. This data will be used to calculate the total revenue for each source. 
  
  Tips & Tricks: 
  When setting up accounts for settlement diversity, it is important to ensure that all relevant information is entered accurately. This includes the type of revenue source, the amount of revenue generated from each source, and any other relevant details. Additionally, it is important to regularly review the data entered into the system to ensure accuracy. 
  
  Related Information: 
  Settlement diversity is just one of many features available in SAP’s IS-OIL-PRA-REV Revenue Recognition component. Other features include revenue recognition rules, deferred revenue recognition, and more. Additionally, there are many resources available online that provide more information about this component and how to use it effectively.