Rounding

Due to the nature of oil and & gas accounting and dividing monies using two decimal places between multiple parties with interests of up to seven decimal places, rounding can often raise questions. By default the maximum rounding amount to adjust is $.50. If you would like a different amount as the maximum to adjust, enter it in the Miscellaneous Preferences screen.

Also by default the system adjusts rounding to the working interest owner with the lowest owner ID in each well, unless a different owner is specified on the well information record. If you would like the working interest owner with the highest owner ID to have rounding adjusted to them, check the option box beside the rounding amount in the Miscellaneous Preferences screen. If you would like to select an owner, other than the highest or lowest owner ID in the well you can do this from the well information screen. Only working interest owners with an interest in this well will be available for selection. If an owner is entered in the well information screen this will override the global setting of the highest or lowest owner in the well. A favorite among our clients is to adjust all rounding to your company if it has an interest in the well. These options can help to prevent calls from your investors.