Topics:

  • Understanding the Expense Tax Codes Report

    What is the connection between the Expense Tax Codes (Maintain Menu), and the Well Expenses by Tax Code Report (Reports > Well Reports)? I have Tax Codes identified in the Expense Tax Codes list, but they don't match the headers on the report, and nothing comes into the specific categories on the report (for example, all the costs are lumped under Miscellaneous; there are none under Tangible or Intangible).

    The tax codes allow you to group expense codes by tax types. You define the tax codes in the tax codes file and then in the Expense Codes, you tab each category with the given tax code. The Expenses by tax code report only groups by the major tax code categories. It won't report on your defined codes that differ from Intangible, Tangible, etc.

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    My accountant needs a breakdown of Tangible Vs. Intangible drilling cost for a specific well. I have posted these respectively in SherWare and now I need a report. Where do I go?

    There's not a report that splits out intangible drilling from other intangible costs, but the Well Reports > Well Expenses by Tax Code report shows amounts for all Intangible costs, Tangible Costs, Leasehold Costs, LOE Costs, along with revenue and taxes.

    If you're just interested in a couple of specific expense categories that you've used for a well, you can consider using the Well Reports > Well Expenses by Category report.

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