Tool to Apply Non-Released Suspense to A/R

Apply Non-Released Suspense to Accounts Receivable

This special routine allows you to post the Life to Date Suspense amount toward outstanding Accounts Receivable invoices.

Select JIB - Tools for Statements - Apply to A/R - Apply Suspense Revenue to A/R

APPLY NON-RELEASED SUSPENSE AMOUNTS TO ACCOUNTS RECEIVABLE:

If an owner has a life to date suspense amount of $24 and owes $40 in Accounts Receivable invoices, you may apply this amount against the oldest Accounts Receivable invoices for this well and reduce the amount he owes to $16.

RESTRICTIONS

You may only use this routine if an owner has a greater Accounts Receivable balance than his life to date suspense balance.

HOW IT WORKS

You can apply life to date suspense amount against Accounts Receivable invoices for only one owner on one well at a time.

The program will perform a sanity check to verify that the Accounts Receivable balance is greater than life to date suspense balance for the specified owner on a specified well. You will be prompted if the sanity check fails. The suspense status is not relevant.

The suspense amount will be applied as a payment record to the oldest Accounts Receivable invoice in the Accounts Receivable Detail file for the unit specified. The Accounts Receivable Inquiry Report will indicate this as a 'Pay Accounts Receivable from Net Revenue in Suspense'.

A payment application type record will be recorded in the Accounts Receivable Detail file and the Accounts Receivable Posting Register. A credit will be posted to general ledger number 11300, Accounts Receivable and a debit will be posted to general ledger number 21010, suspense in the Transaction file. The life to date, year to date and month to date suspense balance for this owner will be reduced to zero in the DOI file. The gross revenue released and gross taxes are updated in the Division of Interest file.

You will be asked to print an Operating Statement for this owner reflecting the Accounts Receivable prior balance amount for this unit and suspense release amount applied. The Operating Statement will show the remaining total amount the owner owes for the unit. A printout of the update for this owner will show the files updated when you applied the suspense balance against Accounts Receivable invoices.

You may apply life to date suspense amount against Accounts Receivable invoices for only one owner on one well at a time.

FILES UPDATED FOR SUSPENSE APPLIED TO ACCOUNTS RECEIVABLE INVOICES

DOI.DBF- Update DOI revenue & tax released amount.

ARDET.DBF - Update Accounts Receivable invoices paid from suspense released.

ARREG.DBF - Update Accounts Receivable Posting Register for Accounts Receivable invoices paid.

TRAN.DBF - Debit to general ledger number 21010 and credit to general ledger number 11300.