Well Revenue by Well (8/8ths)

Well revenue can be entered on a well-by-well basis by choosing Well Revenue by Well (8/8ths) from the Tasks menu. This window assumes you are entering gross amounts for the well. Entering revenue through this window will create individual deposits for each well, as opposed to creating one deposit amount for the total check amount as in the Production Receipt window. The Well Revenue by Well (8/8ths) window is primarily used for making correcting entries to a well's revenue totals, and also for viewing the total revenue entered for a well during a run, regardless of the data entry window used.

Any detail line can be deleted by clicking on the entry, then clicking on the Delete Detail Line button at the bottom of the screen. If you delete an item that was originally entered as a Production Revenue Receipt or as a Gas Meter Reconciliation entry, it will ask you if you want to return the entry to the allocation file to be allocated at a later period. Choosing "No" will not affect the original entry.

Detail lines that appear in blue represent revenue that was entered as a Production Receipt or through the Gas Meter Reconciliation window. Blue detail lines cannot be edited within the Well Revenue by Well (8/8ths) window, but rather must be edited on the original data entry window. Detail lines that appear in black represent items that were added or modified on this window.

Well ID
The well ID of the well for which the income will be entered.

Well Name
The well name will fill in automatically once you select an ID.

Run No.
If you are wanting to use this window as a reference to see what processed on a prior run you can enter the run number which you want to view. Revenue can be entered or edited only on a New Run. If there is already revenue entered for the run that you choose, it will be displayed in the grid at the bottom of the screen. Entries cannot be made for a past run, only viewed.

Type
Enter the source of the income. Valid choices are BBL, MCF, OTH, MISC1, MISC2, TRANS, GTAX1-GTAX4, OTAX1-OTAX4, PTAX1-PTAX4.

Received From
Enter the revenue source name from which the income was received. If a default purchaser was entered into the Well Information screen for this well, it will appear here after the type has been entered. The source of revenue must first be defined in the Purchaser Information screen.

Acct Date
Enter the accounting date the income was received. This date is very important. When you run reports for the current run or you close the run, you are asked for an accounting date. That date marks the cut-off point for entries that will be processed during that run. Only items on or before that accounting date will be processed.

# Units
Enter the number of units.

Price
Enter the price per unit received.

Total
The total is automatically calculated based upon the units and price entered. If the total is not the correct total, perhaps because of rounding, you can overtype the total so that it matches the amount received.

Production Year/Period
The production year and period for which this revenue is being received.

Period Range
Enter the range for this production period. For example: if period 02 does not start on the first day of the month and end on the last, enter the range. 02/14 - 03/13. This information will print beside each revenue entry on the owner's statement. The range format is MM/DD.

Days On
The number of days the well produced during the period. If the Miscellaneous Preference "Calculate Days On From Period Range Entered" is chosen, the number of days will automatically fill in for you, after the Period Range is entered.

Ref ID
Enter the check No. or other reference identification.

Notes
Enter any notes about this entry. These notes do not appear on the owner's statements, and will only be stored in this screen with this individual entry.

Don't Post to QB
Mark this option if you do not want to post this entry into QuickBooks once you save it. You should rarely use this feature, as it is only used if you have already entered this revenue or expense in QuickBooks previously. There is a "NP" (No Post) column that will be checked if the option was marked for that detail to not post to QuickBooks. Each detail line that was marked to not post will have a mark in this column indicating that the detail did not post. For more information on this topic, see Don't Post to QuickBooks topic.

Allocate All To
If this income entry should be allocated 100% to one owner in the well, enter that owner's ID code here. The income in this detail line will then be allocated 100% to the given owner.

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