G/L Clearing Account Reconciliation

Displays the debits and credits to the clearing accounts for each well during a given run. This will help you reconcile the amounts that are posting to and clearing out of the Revenue and Expense Clearing accounts.

The report can be run for a particular revenue or JIB run, or it can be run for a date range. When it is run by date range, it displays all entries in the chosen clearing account and in what run closing they were processed.

Report Type
Detail: Shows the detail transactions for the chosen clearing account.
Summary: Shows only the totals per well for the chosen clearing account.

Type
Expense Clearing: Run for the expense clearing account.
Revenue Clearing: Run for the revenue clearing account.
Both Clearing Accounts: Run for both expense and revenue clearing.

Report By
Run No.: Reports all entries processed during the given run.
Date Range: Reports all transactions between the given date range regardless of whether they were processed in a revenue run.

Run No.
The run for which the report is to be produced.

Date Range
The beginning and ending date to use in choosing transactions to include on the report.

First/Last Well
Select the range of wells to include on the report

Reconciling with the G/L Clearing Account Reconciliation Report

After a run is closed view a "Summary Listing" of "Both Clearing Accounts" for the run that was closed.

Go to the end of each clearing account and verify that the total debits are the same as the total Credits.

If they are the same then the posting for this run was correct.

If you have differences on the summary report then you can run the report again as a "Detail Listing" to try and determine specifically what is causing the difference.

If you are not able to determine what is causing the difference from this report then you can compare
the G/L Account Activity Report, Revenue Expense Detail Report for the new run, and the Allocation File reports to further investigate.

Viewing the G/L Clearing Account Reconciliation for a date range

Running the report by date range will allow you to run the report for a broader time period than just a
specific run closing. Anything that has not been processed on a run closing will show as a difference on the report.

Revenue Clearing Account Reconciliation

The balance of the revenue clearing account at any time should be equal to the total of revenue that has not been processed on a revenue run closing. This includes any revenue in the new run and in the allocation file. Any revenue that has been processed on a run closing should have offsetting entries in the clearing account.