How Suspense Posts

When the run is closed the information that is put into suspense will be grouped by production period and split by revenue or expenses when posted to the clearing accounts. All Expenses allocated to an interest on the run closing will be grouped by production period and a debit will be made to one of the suspense accounts. All Revenue Categories (MCF, BBL, OTH, and taxes) allocated to an interest on the run will be grouped by production period and a credit will be made to one of the suspense accounts.
The suspense account that these transactions post to will depend on the type of suspense that each owner has. Owner holds, Interest Holds, Check Minimums, Frequency suspense will post to the account specified in the preferences as the legal suspense account. Deficits will post to the account specified in the preferences as the deficit account.

When an entry goes into or out of suspense it will show the following detail in QuickBooks as the "Type", "Memo", and "Split" for the situations listed.

Entries placed into suspense on a run closing:
Type = "General Journal"
Memo = "Owner Hold"/"Interest Hold"/"Current Deficit"/"Quarterly Interest
Held"/"Semi-Annual Interest Held"/"Annual Interest Held"/"Current Minimum"
Split = Revenue Clearing/Expense Clearing

Entries released from suspense on a run closing:
Type = "Check"
Memo = "Owner on Hold Released"(Currently showing as "Interest on Hold Released")/"Interest on Hold Released"/"Prior Deficit"/"Quarterly Pay Released"/"Semi Annual Pay Released/"Annual Pay Released"/"Prior Minimums"
Split = Checking

Clear Owner Suspense Utility (Create a check marked)
Type = Check
memo = "Owner Suspense Ck ####"
split = checking

Payments
Type = General Journal
Num = Check number entered on payment
memo = "Net Payment"
split = checking, will be a credit.

Suspense Transfers
Type = "General Journal"
Memo = "Minimum to Deficit"/Deficit to Minimum
split = deficit suspense/legal suspense,