AFE Management

The AFE (Authorization for Expenditure) processing is an optional module. Your software will not have the ability to create AFEs unless you have purchased this module. If you did not purchase it then you may not be able to see this tab in the preferences. Contact SherWare Support if you are interested in adding this capability.

Cost Plus Pct
Enter a percentage that should be "tacked" onto the AFE costs as a Cost Plus charge. The system will multiply the total AFE charge for an owner by this decimal percentage and add it to the owner's AFE invoice. 1% should be filled in as .01

Location Fee
Enter a dollar amount for a location fee, if one is charged. This amount will be added to the total AFE charge before the owner's share is calculated.

Allocate Expenses to Owners
If this is marked, it will allocate any AFE Expenses to owners on JIB Statements or Owner Distribution Statements as they are received. This option allows AFE expenses to be included in the Revenue run or JIB run closing process. If this option is unmarked, the AFE expenses entered will not be included as part of the run closing process, and will not appear on regular well reports. *If you change this option after AFE expenses have been entered, you will have to resave each bill for the change to take place.*

Note: If you need to enter AFE expenses that are deducted from revenue on the Cash/Production Revenue Receipts window, this option to Allocate Expenses to Owners must be checked. If this option is unchecked, you will not be able to select AFE expenses from the Type pulldown menu within the Cash/Production Revenue Receipts window for a well.