When we closed the revenue run we got a report "revenue closing summary by well" and it had differences or variances on it. Could you explain to me why they might be there?

A difference on the closing summary means that there was revenue or expenses that either were not able to be allocated to owners, or too much was allocated. This is most commonly caused by not having your DOI total up to 100% (or total more than 100%). This causes the system to allocate an incorrect amount vs. what was entered for the well, causing a difference.

It can also be caused by entering revenue using a type that has no ownership in the DOI. For example, if you enter OTH revenue, but have no owners with interest in the OTH class, it won't be able to allocate the money to anyone, so it will show as a difference. You can run the Well Revenue Operating Summary report, and check the rounding amounts for the wells at bottom of the report. Rounding amounts there show up as differences on the closing summary, and this is a good report to run prior to closing to see if there are any potential problems. You can also run the Utilities > Division of Interest Utilities > Check Division of Interest option to find any wells with incomplete DOI.

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