When it is time to run revenue allocations and process the monthly revenue checks, this is your place. Like Joint Interest Billing, this module collects and distributes only after allowing for plenty of preliminary review.
- Suspense tables under operator’s control and parameters provide ample reports for complete audit trails
- Suspense released by owner for selected production dates and leases
- Determine and set minimum suspense amount by processing cycle
- Cross reference between purchaser’s well number and operator’s well number which enables user to input volumes and values directly from purchaser’s statement or check
- Alerts the user to any errors (Volume and Value / Lease) before moving to the next processing step—User can easily correct the problem right away
- Automatically creates G/L entries—company’s share, check amount and netted amount
- Electronic transfer of 1099’s and 1099 Replacement reports
- Accepts net information from purchaser and converts to gross prior to processing
- All detail maintained in history file
- Calculates production taxes for all states
- Option to net check by lease, owner and program (options set by user)
- Detail prints either on check or overflow statement
- Minimum Suspense file updated and accessed by owner anytime
- Revenue can be processed multiple times during a month
- Void check routine gives user the option to void the check and add it to either the legal or minimum suspense table
- Preliminary revenue processing available
- System allocates pay meter volumes and values to property based on input field volumes
- Ability to transfer related Entity’s share of revenue and volumes to another Entity by property
- Date sensitive Division of Interest