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Revenue Distribution
Revenue Production Check entry features
easy input of all production information. Are lease operating
expenses currently netted from your production checks? Petroware2000
will handle any deduction necessary from working interest partners
or royalty interest and any combination, all on one screen
so that your net check always matches!
"I just pulled in 90 different
purchaser checks using Petroware2000's CDEX interface. Some
of my checks had 30-40 pages of detail! The revenue matched
the check detail perfectly and I didn't have to key one single
line of revenue detail before cutting our interest owner checks."
- Quote from and Midland Client -
Are you responsible for paying your own production taxes? Petroware2000 will
auto calculate the taxes for ANY property/well and interface to enter the taxes
payable into our accounts payable module--less work for you and more accurate
calculations! Credit line items and negative volume adjustments are simple. Petroware
will never limit the number of DOIs on a well, our active date driven DOIs offer
the greatest flexibility in the Industry.
A big plus, Seagate Crystal reports with the advantage of SQL database technology
will make your reporting requirements a breeze and export to any Microsoft product
is just a "click" away.
A few of the Revenue Distribution features:
- Prepares reports on cash, accrual, production date basis, transaction date
basis or revenue generation date basis.
- Nets JIB expenses with a variety of options and levels through the owner,
property and Division of Interest.
- Tracks acquisitions by owner / operator within the same well or lease for
financial reporting.
- Forces 8/8ths division of interest (DOI) to add up to 100%, and investors'
share to percentage of operated interest. DOIs are date-sensitive to insure
correct DOI application even for prior period adjustments.
- Purchaser master, with well & product set-up, makes check input VERY FAST
and completely error free. Purchaser set-up can be duplicated/copied for
moving wells to new purchaser.
- Duplication/edit feature allows user to replicate and recalculate DOIs
with a key stroke.
- Reports can be ran on 8/8ths, NRI or investor's share with multiple hierarchical
sort options.
- Revenue Production input auto calculates taxes for submittal to state or
federal agencies with an interface to enter taxes payable into accounts payable
screen. Transmission charges can be calculated in the same manner.
- Prepares operating statements and payout analysis by lease, by well, by
investor and by investor by investor type.
- Produces true revenue accruals with automatic reversing entries.
- Provides on-line search of investor, property, and DOI files with our exclusive "look-up" feature
for faster and more accurate input.
- Provides CDEX (Check-Stub Data Exchange) interface for electronic acceptance
of purchaser revenue detail.
- Enables cash flow reports on multiple interest acquisitions within property
for reserve economics comparison and cost basis analysis.
- Allows multiple interest types in a single property, same owner code, with
easy exemption mark and review. No multiple DOIs required for MMS and State
Exemption from taxes.
- Provides automatic electronic data transfer to affiliated companies.
©2003 Avatar Systems, Inc. |
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