Operating Statements

Operating Statements are used to Disburses Revenue and Bill the Investors their fair share of each well.

Terminology:

JIB = Joint Interest Billing = bill to Investors for expenses for their share on each well

Revenue Disbursement = paying Investors their share of Revenue from each well

Operating Statement = a combination of the two above

Nothing is enetered directly into this system, as it gets it's data from the debits and credits made by other systems, Transactions, A/P, A/R, G/L etc... The coding used in your Master Files determines who gets an Operating Statement and how big their share is on each Transaction for each Well.

NORMAL PROCEDURE FOR PRODUCING OPERATING STATEMENTS

1. Print or Display the 3 Preliminary Reports - verifys that all data has been entered correctly.

2. Print all Operating Statements for one company at a time. - These will be mailed to Investors.

3. Print all Revenue Checks for that company. - Mail to Investors.

4. Update for the Operating Statements & Revenue Checks for that company. - Nothing is updated in files until this routine, so in case you make an error, you can repeat the process.

In This Section

1. Print or Display the 3 Preliminary Reports and Verify Correctness of Data

Transactions by Unit Report

Owners Share by Unit Report

Operating Statement Summary - You should always at least display this report.

2. Print the Operating Statements

3. Print the Revenue Checks

4. Update for Statements and Checks

TUTORIAL SCENARIO

Execute each of the sections above for Company Number 01 and all other values as shown in the respective images EXCEPT FOR DATES. Use dates that will apply to the dates you entered for your transactions. Refer to the respective Notes on Fields if you need more info. When finished with each section Return to the Tutorial.