How do we setup programs in your software?

Programs are set up in the Well Program/Partnership screen under the Maintain menu. Once you have defined the Program, you can then set up your Division of Interest for the wells, and assign the Program code to the owner's interest in the well. You'll see a Program field in the Division of Interest screen. This will mark that owner's interest in that well as being part of the program that you've set up. The system will naturally list all wells within the same program together on the Owner Distribution Statement.

Top

When you set up a well program/partnership does the box need to be checked off about members receiving 1099's or has that already been established when setting up owner decks?

You will need to mark that option if you want them to receive a 1099. If you do not then mark it for the program but you do mark it for the owner, he will receive a 1099 but it will not include the information from the program.

Top

Return to SherWare's Knowledge Base