I have a Master set up, with a single sub meter on it. I received the first revenue check that includes the Master Meter and the Sub Meter production. Do I enter the production revenue under Tasks - Production Receipts OR should I enter it using the Tasks - Gas Meter Reconciliation screen?

If you only have one well (Sub Meter) attached to the meter, then you can enter the revenue on either screen. Do not enter it on both. The gas meter reconciliation screen is designed to allocate to multiple wells and account for line loss. Since you only have one well it is not necessary to use this screen but you can.

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What is the difference between using gas meter reconciliation for revenue entry versus production receipt?

Entering revenue either through the Gas Meter Reconciliation or Production Receipts screen will have no affect on the differences on the closing summary. The benefit of using the Gas Meter Reconciliation screen is that you get to account for line loss, and have the system automatically allocate the "paid on" MCF to the wells on a common meter. The benefit of the Production Receipts screen is that you can enter an entire check's worth of data at once, including oil, gas, severance taxes, and any other items that get deducted before you receive your money. The majority of our clients use the Production Receipts screen, but it just depends how you get paid as to which is more convenient for you.

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