Defines the Account and Sub-Account for Purchaser Clearing or Cash when adding a deposit. It can be overridden at the data entry point.

***Pak Accounting’s recommended option is to use a “Purchaser Clearing Account.”****

Sub-Table

for Operators

If the company is on an accrual basis, the income will be recorded in the production month, and the cash deposit will be recorded in the month you receive it. The cash basis option records the revenue on the same date as the deposit. This option only applies to entries recorded directly to the General Ledger as defined in the Division Order Maintenance screens. If the entries are sent to the Revenue Disbursement System you must define the Cash or Accrual Option in the Investor Entry Maintenance option, Revenue Tab.

Also see Accounting Concepts - Accruals vs Cash Basis.

Set to “Yes” by a check mark if one or both of the following situations apply:

1. You will need to manually add additional costs to the revenue disbursed. An example would be adding company compression costs to a gas distribution (i.e. it is not on the purchaser check received by you).
2. You have outside operated properties and you require those costs to be billed via Joint Interest Billing because you have partners in those properties. Quite often these costs are netted against the income received.

Hundred Percent Options

[Required if (a) you are disbursing your entries in the Revenue system or (b) you are sending entries to the General Ledger and desire 8/8ths information recorded in your books. ]