Transfer Inventory to Wells

This allows you to transfer items that you have entered as an inventory purchase to a well, charging the owners in that well for the items.

Item ID
Enter or select the item ID that you wish to transfer. The available items are defined on the Maintain> Inventory/Billing Codes .

Quantity/Price
The number of items you wish to transfer and the price for this item. It should be filled in with the price specified when the item was setup. It can be overwritten here.

Total Charge
The quantity times the price. It can be overwritten, if desired.

Exp Code
Enter or select the expense code under which this expense should be reported.

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

Accounting Date
Enter the accounting date that should be associated with this item. This date will determine whether this expense gets processed during a closing.

Well ID
Enter or select the well ID to which this expense should be charged.

Description
Enter the description for this expense.

Click the transfer button to send this expense to the specified well. The system will debit the Expense Clearing Account, and credit the Inventory Account specified on the General Ledger Preferences.