Credit Cards

Expenses paid for with a credit card can be entered on the General Journal Entry window.

Debit the Expense Clearing account. A well and expense code should be associated with the Debit.
Credit the account you use for the respective credit card. You do not have to choose the well and code again for the credit line.

The General Journal Entry window does not have a place to associate the expenses with a production period so the expenses will be placed into the allocation file. This means that the expenses will not appear on any owner or well reports until they have been released from the allocation file onto the new run. You will have to use the "Allocate Held Expenses" window to assign the production period.

An the Allocate Held Expenses window specify the production period that these expenses should be associated with then select the expenses and press the allocate button. The expenses will then be on the new run and will have the production period associated with them. If you have expenses from multiple production periods then you will have to repeat these steps for releasing from the allocation file for each period.

The balance of the account used for the credit card will accumulate the balance. A payable will not be created.