Checking Account
The account that is credited for owner checks and the default account debited for revenue entry.

Owner Deficit Receivable
The account to which owner deficits are posted.

Legal/Min Suspense Account
The account to which owner minimum check amounts, owners on hold, interests on hold and owners that are disbursed quarterly, semi-annually and annually are posted.

Product Tax 1-4 Payable
The account to which severance taxes is posted for each of the four available taxes. This is used when the operator is responsible for withholding tax from well production.

JIB Receivable Account
The account to which joint interest billing receivables are posted.

Backup and Tax Withholding
The account to which backup withholding and/or tax withholding amounts are posted. These amounts are set in the Owner Information screen.

Compression and Gathering Account
The account to which compression and gathering amounts are posted. This account is used if the operator is responsible for withholding compression and gathering.

Fixed/Well Exp by Well Clearing
The account to use for posting fixed expenses. This will keep fixed expense separate from the general expense entered through Enter Bills. This should be an Accounts Payable type of account. If this is left empty, fixed expenses will be posted by default to the Accounts Payable account.

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See also

General Ledger | Accounts Payable | Accounts Receivable | Check Printing | Reporting | Miscellaneous | Rev Dist / JIB Posting | AFE Management | Land Management | House Gas