Owner History Adjustments
Owner History is where historical amounts are stored. Once something is allocated to an owner on a run closing the totals will be summarized by well and production period and stored as owner history. This history is then used when viewing reports that display historical numbers for a given month or range of time. This information is also used to create the 1099s.
This window allows you to adjust the history that is stored for an owner. Generally this is done if you start using the software in the middle of the year and want to fill in the owner totals for the first part of the year so that they will report on the 1099. You can make slight adjustments if you need to make a correction for an owner, but generally if something needs corrected you would not use this window because any changes made here will not be included on their owner distribution statement so they would not have record of the change.
You will only be able to see manual adjustments to the history on this window. Entries created from a run closing will not display for you.
Nothing will post for adjustments entered on this window.
The information entered on this screen will NOT be reflected on any reports that are for a specific run number. The information entered here will only affect historical reports (reports ran for a date or period range) and 1099s.
General Fields
Revenue Expenses Tab
Taxes Tab
Interests Tab
Owner ID
Enter the ID of the owner this history record belongs to.
Well ID
Enter the well ID of the well this history record describes.
Year, Period, Date
Enter the year, period and date this transaction took place.
Group
The group to which this well interest belongs.
Program
The program ID of the program this history record is associated with. If the interest is not part of a program, leave this field empty. If you are not sure you can look at this owner's interest in the well on the division of interest window. The "Program" field in the top right corner is what needs specified here.
NOTE: If the 1065 & K1 Module is enabled, any Owner History records with a program specified will be included on the Form 1065 and schedule K-1 created at year end.
Record Type
The type of interest that created this owner history record. The two types are Revenue Interest that includes both revenue and net interests, and JIB Interest.
Owner Type
The type of owner. The owner types are: Royalty, Override and Working.
Interest Type
The type of owner interest. The interest types are Both - both oil and gas; Gas - gas interest only; Oil - oil interest only.
Direct Paid
The revenue that was directly paid by the purchaser. The choices are: None - no revenue was directly paid; Both - both gas and oil revenue was directly paid; Gas - gas revenue was directly paid; Oil - oil revenue was directly paid.
Flat Rate Record
Mark this option to indicate that this history is from a flat rate royalty interest.
Net Amount
The net amount of the adjustment. You do not have to fill in every field on the window. Only fill in the fields that you feel are pertinant until the Net Amount in the bottom right corner is the amount of the overall adjustment that you want to make.
Oil Revenue
The amount of oil income.
Gas Revenue
The amount of gas income.
Other Revenue
The amount of revenue from other well products.
Trans
The amount of transportation income.
Misc Rev 1
The amount of miscellaneous revenue entered using the MISC1 code.
Misc Rev 2
The amount of miscellaneous revenue entered using the MISC2 code.
Working Interest
The owner's working interest expense amount.
Class 1 Exp - Class 5 Exp
Enter the owner's share of expenses for each of expense classes 1-5.
Gathering
Enter the gathering charges for this well and period.
Compression
Enter the compression charges for this well and period.
Flat Amount
The flat rate royalty amount, if this history record describes a flat rate.
BCP Expense
Enter the owner's share of expenses for the before casing point expense class.
ACP Expense
Enter the owner's share of expenses for the after casing point expense class.
Oil Tax 1 - Oil Tax 4
The amounts calculated for the four different types of oil taxes.
Gas Tax 1 - Gas Tax 4
The amounts calculated for the four different types of gas taxes.
Other Tax 1 - Other Tax 4
The amounts calculated for the four different types of other product taxes.
Tax W/H
The amount of state tax withholding.
Backup W/H Amount
The amount of federal backup tax withholding.
This page contains a snapshot of all the owner's interests in this well at this point in time.
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