BILLING CORRECTIONS

This utility will enable you to quickly and easily identify the billing entries that must be corrected.  It does this with a pair of wizard-type screens that first allow you to narrow the search to the property and billing dates and then limit the correction to specific entries.

There are two types of Billing Corrections:

1. By Property
2. By Owner

These corrections consist of two actions.  First, the automatic correction at the owner level of exactly what was previously billed to the owner.  It doesn't matter how the DOI or deck is currently defined.  The system pulls from history the exact billing amount(s) and reverses them on the next billing.  Then, it creates new billing entries that will run through the next billing cycle.  These entries can optionally be recoded to a different property, deck, and/or AFE, as needed.

The next billing cycle, which includes the corrected property, will process the reversing entries and, depending on your options, the new billing entries.

We recommend doing a special billing cycle that only includes this correction.  You might hold it and mail it with your next billing, but by going ahead and running a billing cycle, then the correct entries will not be commingled with the next month's entries.

Some reasons to use the Property level correction:

1. A/P Invoice was billed to the wrong property.
2. DOI was set up with the wrong Billing Percentages and billed out one or more months.
3. Certain charges to a well need to be reversed and absorbed by the Operator.
4. Correct an Overhead generated charge via the Overhead Maintenance Option.

Some of the reasons to use the Owner level correction:

1. An owner sold their share, and the DOI was not changed before a prior billing(s).
   NOTE: If Pak Accounting detects multiple entries that are very much alike, the entries will be identified with the account, effective date, reference number, 100% amount, and description so that the user can divide the correction into multiple corrections.  This eliminates both sets of entries being included in the same correction process.

In addition, Pak Accounting will print issues that cannot be electronically corrected.