Purchaser Information

To access the Purchaser data-entry window, choose Purchaser Information from the Maintain, Disbursement & JIB Files menu. Purchasers are the ones who purchase the product from the wells. A Purchaser Information record should be set up for each entity that you receive well revenue from.

Purchaser ID
Enter a unique 1-10 character ID code for this purchaser. The code can be a mixture of alpha and numeric characters.

Purchaser Name
Enter the name of the company from which revenue will be received. Purchasers are the entities from which income or revenue is received. The reason they are entered here is so that the system can better distinguish income amounts that should be lumped together into a single deposit in the check register. For example, for one well, "East Ohio Gas Co." may be entered as the income source. On the next well, "East Ohio Gas Company" is entered. Even though we know they are the same company, the Accounting Manager doesn't have the ability to think with "fuzzy logic." In this case, it would assign two different deposits, one from "East Ohio Gas Co." and another from "East Ohio Gas Company" even though they should be lumped together as one. Setting up the purchasers here gives the ability to choose a purchaser from a list instead of having to type one in.

Purchaser Address
Enter the address for this purchaser, including the phone and fax numbers.

Default Price
Enter the default price received from this purchaser. This price is used whenever this revenue source is entered when receiving well revenue. It can be overridden by typing a new price at the time of entry.