What is primary geographical location in SAP IS-OIL-PRA - Production and Revenue Accounting?

SAP Term: primary geographical location

• Component: IS-OIL-PRA

• Component Name: Production and Revenue Accounting

• Description: A two-digit code that identifies a geographical area such as state, region, province, offshore area. It is linked to a primary geographical description, which describes the location number, and is used in various tables and processes well completion, measurement points, networks, as well as various tax processes.

Smart SAP Assistant

• Key Concepts: 
  Primary geographical location is a component of the IS-OIL-PRA Production and Revenue Accounting module in SAP. It is used to define the geographical area in which a company operates, such as a country or region. This information is used to determine the applicable taxes and regulations for the company. 
  
  How to use it: 
  The primary geographical location can be set up in the SAP system by going to the IMG (Implementation Guide) and navigating to the IS-OIL-PRA Production and Revenue Accounting module. Once there, select the “Define Primary Geographical Location” option and enter the relevant information. 
  
  Tips & Tricks: 
  It is important to ensure that the primary geographical location is set up correctly, as this will affect how taxes and regulations are applied to the company’s operations. It is also important to keep this information up-to-date, as changes in regulations may require changes to the primary geographical location. 
  
  Related Information: 
  For more information on setting up the primary geographical location in SAP, please refer to the official SAP documentation on IS-OIL-PRA Production and Revenue Accounting.