What is state code in SAP IS-OIL-PRA - Production and Revenue Accounting?

SAP Term: state code

• Component: IS-OIL-PRA

• Component Name: Production and Revenue Accounting

• Description: The first two digits of the American Petroleum Institute API number that represents the surface location of the state in which the well is located.

Smart SAP Assistant

• Key Concepts: 
  State Code is a field in the Production and Revenue Accounting (PRA) component of SAP IS-OIL. It is used to store the state or province of a particular location. This information is used to determine the applicable taxes and other regulations for that location. 
  
  How to use it: 
  The State Code field can be found in the PRA component of SAP IS-OIL. It is typically used when entering information about a particular location, such as an oil well or refinery. The State Code should be entered in order to ensure that the correct taxes and regulations are applied to that location. 
  
  Tips & Tricks: 
  When entering a State Code, make sure to double-check that it is correct. Incorrectly entered State Codes can lead to incorrect taxes and regulations being applied, which can have serious financial implications. 
  
  Related Information: 
  The State Code field is part of the PRA component of SAP IS-OIL, which is used for managing production and revenue accounting for oil and gas companies. Other related fields include Country Code, Region Code, and City Code.