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  • Correcting Reports

    The production for a new well was entered as oil instead of as gas, so our reports for this first month shows BBL volume when it should be MCF volume. The run has already been closed and posted to QuickBooks. Is there a way to manually change the volume from BBL to MCF so that our reports are accurate?

    There's not a way to change the Owner Distribution Statements for that run closing, however, you can enter an adjustment in the New Run for that well using the Well Revenue by Well (8/8ths) screen. For that well, you'll enter two detail lines. One line will use positive units and dollars, and will have an MCF revenue type. The second detail line will use negative units and dollars, and will be the BBL revenue type. Both detail lines will use the original purchaser, date, and production period. This will essentially correct the production reporting for that well, and will allow you to convey the information correction to the owners during the next distribution.
    recalculates all past years/periods.

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