Gas Meter Reconciliation

Gas Meter Reconciliation allows sub-meter readings to be reconciled against their master meter reading. After the reconciliation, the correct MCF values can be allocated to the wells automatically.

To send the allocation to the well revenue file, save the allocation by clicking on the Save button or pressing the F10 key.

Cash Account
Choose the cash account to which this deposit entry should be debited. You may also choose the Undeposited Funds account if you wish to group this revenue receipt with other receipts in the Make Deposits .

Acct Date
Enter the accounting date for this receipt. This date is very important. When you run reports for the current run or you close the run, you are asked for an accounting date. That date marks the cut-off point for entries that will be processed during that run. Only items on or before that accounting date will be processed.

Allocate Evenly
Click this button to allocate all of the Master MCF to the wells evenly.

Meter ID
Choose the master meter ID from the list of meters by pressing the Meter ID button. This brings up the meter description and all the wells that are tied to this meter. The meter must first be defined in the Master Meter before it is available to be chosen for the reconciliation entry.

Range
The date range for this production period. The format is MM/DD, indicating the beginning and ending date for the production period.

Days On
The total number of days the well was producing during the given production period.

Production Year/Period
Enter the production year and period to which this income will be allocated.

Purchaser
Choose the revenue source from the list by pressing the Purchaser button. Purchasers must first be defined in the Purchaser Information .

Ref ID
A reference ID or check number for this production revenue.

Master MCF
Enter the reading from the master meter. Enter as the total number of MCF.

Price per MCF
Enter the price per MCF that the purchaser is paying.

Total
This field shows the total revenue that has been paid on this master meter. This amount is calculated automatically based on the Master MCF and price entered. You may over-type this amount to match the amount paid by the purchaser.

Round MCF to nearest whole number
If marked, the MCF will be rounded to a whole number instead of using decimals.

Gas Tax
Choose the type of gas tax being withheld by the purchaser: GTAX1, GTAX2, GTAX3, GTAX4. If more than one type of tax is being withheld, it must be combined into one total tax amount withheld by the purchaser. (Be sure to mark that the Purchaser withholds the tax in the well's Taxes settings in the Well Information .) If the purchaser is not withholding tax from the revenue paid on the master meter, then you can leave the tax selection empty/blank.

Total Tax
Enter the total amount of tax withheld by the purchaser from the gas revenue paid. Pick the appropriate type of tax, and then make the total positive. The system will recognize any positive tax as needing to be deducted from the Total Amount of the receipt. The tax amount displayed in the grid will be purposely shown as negative to indicate it is being deducted from the total revenue for each well. If a negative tax is entered, the system will recognize this as a tax to be credited to the owners within the well. Negative taxes will display as positive amounts in the grid detail.

Net Amount
Total deposit amount after tax withheld by the purchaser has been deducted.

Meter MCF
Enter the number of MCF from each well's sub-meter (deduct) reading. This will be the yellow column titled "Meter MCF."

As each sub meter reading is entered, the system will calculate the total of sub meter readings entered and then calculate each well's percentage of that total. Then the system will calculate the amount of MCF that should be allocated to each well based upon this percentage.

The tab key will take the cursor down a row while holding shift+tab will take you up a row.

Variance
This is a display only field, which shows the variance between the master meter reading and the subs total.

The variance is calculated by dividing the master meter reading by the total of the sub (deduct) meter readings. This variance is then multiplied by the sub (deduct) reading for each well to arrive at the actual MCF allocation.

Subs Total
The total MCF entered for the Sub Meters.

Print Reconciliation
Click this button to print the current gas meter reconciliation being displayed.