I have a negative disbursement from Exxon and don't know how to fix it. It is a negative entry and then a positive one, but the net is a negative number. I cannot get anything to take a negative entry.

The Production Receipts will not allow you to save a negative receipt, because we're not able to make a negative deposit in QuickBooks. Therefore, I'd recommend using the Well Revenue by Well (8/8ths) screen instead, which does allow you to save an overall negative balance. Simply enter the negative amounts for each well applicable.

Top

We just found out that the chart integrator we use made a mistake on some charts which resulted in us being overpaid for 3 months of production in 2007. We in turn overpaid our land owners using these incorrect numbers. Is it possible to do a production run with negative quantities so that when we run historical reports we will see the corrected production numbers? If that is not possible is there another way to correct these old production numbers?

That is possible. You can enter the negative production and amounts on the Well Revenue by Well screen.

However, I assume that the purchaser will show this adjustment on the next check that they send you. I recommend just waiting until you receive the next check to make this correction. You can then enter the check as normal and add an extra detail line with the negative amount for the adjustment.
Top

Return to Entering Negative Statements