Posting Income for the Vendor that represents your company

If you have a vendor setup in this SherWare Company that represents your company, or any entity where you will be entering the revenue/expenses for that vendor into this company, then you can set that vendor up to post directly to the chart of accounts. This will then post the activity for that vendor directly to an income account instead of creating a check to pay the vendor. This saves you time as you will then not have to print a check to pay yourself, then manually enter it again. The income will post when the run is closed.

IMPORTANT:
Only expenses entered on the well expenses by well window and expenses processed as fixed expenses will be able to post as income for the vendor. Expenses entered on the Enter Bills window will not respect this posting setup and will still post as a bill. You will then have to pay the bill which will create a check.

Setup Posted Vendor:
To setup a vendor to post you can mark the option to "Transfer This Vendor's Activity To G/L" on the Misc tab of the Vendor information window.

Setup Income Accounts:
Every expense code that will be charged by a posted vendor must have an income account associated with it so that SherWare will know what account to post the posted vendors income to. This account will be specified in on the Expense Codes window in the "Account to Use for Posting Operator Vendor Revenue" field. These expenses will post when the run is closed. If an account is not specified then the income will post to the account specified as your "Catch All Account" in the General Ledger Preferences.

Entering expenses from a posted vendor:
Enter any expenses from a posted vendor on the Well Expenses by Well window or on the Fixed Expenses window. Any expenses entered on a window other than these two will not use this processing to post the vendor income.

Posting:
Amounts will post to the income accounts when the run is closed.

Unspecified Accounts:
If an account is not specified then the income will post to the account specified as your "Catch All Account" in the General Ledger Preferences.