Standing order - Functional Location

Hi guys,
I have very simple question. What is a standing order for a functional location?
I currently have a requirement to automatically perform a goods issue movement 261(GI for order) and we are doing it by creating a characteristic field in the functional location.
We have a development that when a fuel consumption is done, the posting goes to the order it has saved as a characteristic.
However I went into the IH01 transaction and saw this Standing order field, and well if this field can work as an open order associated with a functional location then we wouldn't have any need for this development.
What is a standing order? Can we assign a standing order to a functional location so that it always posts material costs related to that functional location to it?
Thanks and best regards!
Fernando

Fernando,
Its basically a Order to continuously collect costs for on-going work, instead of creating a  separate work order for each activity.Its often used in Fleet process to collect fuel consumption costs, when there is a need to know , at any point of time the total fuel consumption cost by vehicle/location.
The standing order field in the FL or Equipment is generally used when you want to default the settlement rule for the order with this value(Auto generate), when this object is associated to the order.
You could use this field for identification of fuel consumption costs for the vehicle , just be sure that for other maintenance orders for this object the standing order is not provided as default  value in settlement rule by accident.
Regards
Narasimhan

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