Topics:

  • Separating Runs by Owner Type
  • Processing Runs by Year
  • Closing Multiple Groups
  • Reports to Run Before Closing a Run

    Is it possible to run revenue runs separately for Royalty and Working Interest owners?

    No, all owners are processed at the same time during a revenue run closing. There is not a way to separate the closing for types of owners.

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    If I recall correctly, I think I can process a revenue run for the whole year, not just month by month. Is this correct?

    Yes, that is correct. You can process all of 2007 activity in one run closing.

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    When I Close a Revenue Run it asks which well group to close. I want to close all but one group. Should I close the groups I want to individually? I wasn't sure if I closed group #1 that I would be able to close group #2 with the same date.

    You'll need to close the groups individually. You're not able to close multiple groups at the same time. You can use the same dates to close multiple groups.

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    I was wondering if you could tell me which reports I could run PRIOR to closing a revenue distribution or a JIB Run to make sure that all of the expenses are allocated properly.

    For the JIB Run, right now, I'm running the Well JIB Operating Summary, Well JIB Expense Detail, Well JIB Expense Summary, and the JIB Statements.

    For the revenue distribution, I'm running the Well Revenue/Expense Detail to make sure that all expenses and revenues were picked up and then the Well Revenue Operating Summary and the Owner Disbursement Summary after the run is closed (in addition to the reports that generate automatically with the close).

    Can you tell me any other reports I might be able to run?

    You're already on the right track for checking the amounts allocated to owners prior to the run closings. As long as they're viewed for the New Run, using an accounting date that corresponds to the date you use for the run closing, then those are the correct reports to check figures prior to run closing.

    In addition to the reports viewed prior to closing a revenue run, I would add the Owner Distribution Statement to look at. This is a report showing the detail of what will be allocated to each owner during the run closing.

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