Since the First Purchaser System shares properties with the Revenue/Billing Module, this Setup Checklist is based upon the assumption that the property is already set up in Revenue/Billing.

One-time setup:

Company Setup – Basic company information, including regulatory filing information.

Property Link – Company defaults for all properties.

Product – Products to be used in the system.

Severance Tax – Severance tax calculations that will be used to calculate the taxes for each product purchased and/or sold. An estimate is presented on the Run Statements, but the calculation takes place in the Revenue/Billing module.

Destination Company – CODE master (API Crude Oil Data Exchange) - used with CODE export.

Location Class – Optional if recording the cost of sales to multiple facilities.

Routine Setup

Purchaser/Operator – Set up Sub-Accounts. NOTE: The return address on the statements is the purchaser's. This is to support situations in which there could be different purchasers for a group of properties.

Property – Information for each property or storage facility using the system.

Field/Pool – Field/Pools that will be associated with your properties are required for some state reports.

Tank/Meter – Set up tank strapping, meter, and LACT unit information for each property and storage facility.

Destination Company CODEs – identify CODE with properties, used with CODE export (API Crude Oil Data Exchange).

Driver Hauling Rate - if needed.

Pricing

Price Index – Information from Posted Price Bulletins. This information can be imported in.

Gravity Scale – Price adjustments based upon gravity as defined.

BS&W – Price adjustments based upon BS&W as defined.

Sulfur – Price adjustments based upon Sulfur as defined.

Price Contracts – Contract information with associated information on indexes and Price Adjustment Scales.

Driver Rate - Driver Rates associated with each driver. This information is used on the driver payments reports.

Hauling Rates - Hauling rates are associated with each price contract. Used for hauling invoices.

Marketer Rates - Marketer Rates associated with each marketer. Associated to each price contract for Marketer Statements.

Purchase Fees - Purchaser Fees associated for each price contract. Used for rejection tickets, split load, and min bbls.

Vehicle Maintenance – If needed.

Early Pay Group - Set up various groups to allow you to associate with a price contract.

Volume Adjustment—generate new volume adjustments for properties that have (Has Volume Adjustment) selected on the price contract tab.