Throughout the 2007 year I had entered in some expenses incorrectly, not amount wise but in the expense code. How would I fix this so the statement will read correctly for their owner's taxes?

To change the expense code that was used, you can use the Well Expenses by Well screen. Enter a detail line for the expense with the same date, amount, expense code, etc. the total should be a negative amount for the same amount that was charged. This will reverse the original entry. You can then enter it in again with the correct information, but still use the old date.

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I am confused as always and wonder if you could shed any light on why there were the entries in the well 8/8th screen. I see some things have been entered in the enter bills section & some others in the 8/8th.

The Well 8/8ths screen will show all expenses regardless of the screen they are entered it. You can tell which screen by the color.

Black Text - Entered on the 8/8ths screen
Blue Text - Entered on the Enter Bills screen
Red Text - Fixed Expenses

I do not know the reasoning behind why some things are entered on the 8/8ths screen for your company.

Are you the vendor for the expenses entered on the 8/8ths screen? If you are the vendor for expenses and you have your vendor set to post then you must enter any expenses for your vendor on the 8/8ths screen.

Other than that situation, it does not matter where you enter expenses. It is a preference. Just remember that the 8/8ths screen will be entered on the "Gross" amount for the well (as the name of the screen refers to) and the Enter Bills screen will just have entered on it the net of what your company is responsible for.

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