Auditing the adjusting entries

To review what adjusting entries were made, you can look at the Well Revenue By Well screen (Tasks menu) or look at
the Well Revenue by Purchaser report for the "Cost Recovery Fee" purchaser. The report will show all fees that were allocated to each well.

The "Cost Recovery Fee" purchaser was added to your software automatically for this processing, and will be used for the adjusting entries that are created.

Since this is a new purchaser DMIE users will need to synchronize the purchasers with QuickBooks before you will be able to post the next run closing after an adjusting entry was made.

If you need to adjust the amount of the adjustment that was created you can do so on the Well Revenue by Well screen by editing the entry that was made.

If you need to delete the adjustment created for a well, you would have to do this from the Well Revenue By Well screen by selecting the entry you want to delete then pressing the delete button. The entry will be sent to the allocation file. You will then have to also delete it from the allocation file if you want to delete it permanently. Entries that are deleted from either the Oil & Gas Accounting Manager or DMIE will not remove the posting that was originally created. You will need to make a manual journal entry to reverse the balances in the respective accounts.

You can delete all of the adjusting entries by choosing "Remove Cost Recovery Adjustments" from the Ohio State
Compliance Reports menu. If you do this, you will need to create the adjustment again if needed.