ODS - FAQ
Financials ›› Owner Detail Statment ››
1. Can I print the Owner Detail Statement for anything PRIOR to 2011?
A: No. This report is only good as of Operating Statements printed on or after 01/01/2011 and updated on or after 01/01/2011, and for those who installed the 2010 Derek updates in January.
2. I converted my Platinum Program data into the Derek Program after January 2011. Can I still print the Owner Detail Statement for information in 2011?
A: You will only get the information starting from the first set of Operating Statements you printed and updated in the Derek Program for 2011. Any Operating Statements done in the Platinum Program, in 2011, will not be available on the Owner Detail Statement.
3. I entered my journal entries for Revenue, Tax and Expense disbursements for the new year of 2011, with a November 2010 date. I printed my Operating Statements for 11/01/2010 - 11/30/2010, but dated by revenue checks 01/31/2011 and used a "Tran Date to assign for updates" as 01/31/2011 so that the information would be in the 2011 Tax Year. What dates should I use when printing the "Owner Detail Statement - JIB Listing" and the "Owner Detail Statement - Period to Period"?
A: Since the program was designed to start retaining information as of January 01, 2011...and not any time prior to that, you will not be able to get the "Owner Detail Statement - JIB Listing" for the time period of 11/01/2010 - 11/30/2010. If you do print the "Owner Detail Statement - JIB Listing" for the dates of 01/01/2011 - 01/31/2011, it will reflect the true values for an update period of March 2011 (assuming you used an update date 2 months later than the Operating Statement Dates). However, you will be able to get an accurate "Owner Detail Statement - Period to Period" for November's transactions by using the dates of 01/01/2011 - 01/31/2011. These statements are only true if you have this particular scenario.
4. So are you saying that for my November 2010 transactions that were dated November 2010 but updated with a January 2011 date will not reflect on the "Owner Detail Statement - JIB Listing" ?
A: That is correct. You will not be able to get that detailed information on the "Owner Detail Statement - JIB Listing" for this first year if your scenario resembles this example. Just remember for the future that you will be able to get the detail on this report by entering the dates on the journal entries for Revenue, Tax and Expense disbursements on the filter.
5. Are you also saying that I WILL be able to get my November 2010 transactions that were dated November 2010 but updated with a January 2011 date on the "Owner Detail Statement - Period to Period"?
A: Yes, as long as you use a Beginning date of 01/01/2011 and an ending date of 01/31/2011. Just remember that this report will be based on the "Tran date to assign for update" that you used when updating your Operating Statements. In this scenario, we used 01/31/2011 as our "Tran date to assign for update".
6. I printed the "Owner Detail Statement - JIB Listing" with the beginning date of 01/01/2011 and the ending date of 01/31/2011. I see figures for each owner that reflect Operating Statements printed with a date range of 01/01/2011 - 01/31/2011. However, I left the exact same filter conditions except I added a check mark in the box that says "Print Recap" and the totals are completely different. Why?
A: These two reports gather information differently. The "Owner Detail Statement - JIB Listing" (without "Print Recap") gathers information based on the transaction dates used when you entered the journal entries for sales, taxes and expenses for each owner on each well that was included in that months Operating Statement run. The "Owner Detail Statement - JIB Listing" (with 'Print Recap") gathers information based on the date you used for the update, called the "Tran date to assign for update".
EXAMPLE: You printed Operating Statements for 01/01/2011 - 01/31/2011, but when you updated these Operating Statements, you used the "Tran date to assign for updates" as 03/31/2011. So in this scenario, the "Owner Detail Statement - JIB Listing" (with "Print Recap") will show figures based on the date of 03/31/2011 even though your filter conditions show the Beginning Date as of 01/01/2011 and Ending Date as of 01/31/2011.
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